Military personnel will not accrue interest and penalties

The military, in military service, banks should not charge interest on the loan and penalties for late payment.

Военнослужащим не будут начислять проценты по кредиту и штрафы

This was stated by the press service of the NBU.

“It is the requirements of the legislation, namely the law of Ukraine “On social and legal protection of servicemen and members of their families” (paragraph 15 of article 14)”, – stated in the message.

It is noted that this means that the loan serviceman during military service is actually “frozen”. As a result, the military has the ability to temporarily not pay back the loan, and the Bank does not charge interest and penalties for late payments.

In addition, the NBU noted that he had received more than 100 treatment for 5 months from servicemen complaining of charging banks interest for their loans during the period of military service.

The national Bank stressed that such appeals became more frequent at the beginning of 2020. All soldiers complained of 17 banks.

Moreover, it is reported that the rules exempting military personnel from accruing interest, fines and penalties at the time of military service, apply not only to banks and non-Bank financial institutions.

“The national Bank is not their regulator, but gets complaints from troops, including about infringements of the legislation of non-Bank financial institutions”, – stated in the message.