The National Bank of Ukraine has clarified what exceptions and conditions will have credit holidays for borrowers of banks, according to which fines and penalties will not be punished for late loans. The explanation is posted on the NBU website.

As stated in the clarification of the National Bank, such changes are provided for by Law No. 2120-IX. The document amended the Tax Code of Ukraine. As a result:.

Removal of liability in case of delay on a consumer loan; such a rule will be valid during martial law and another 30 days after it;

in case of delay, the borrower is exempted from paying a penalty (fine, penalty fee) and other payments for delay;

all fines imposed after February 24 must be written off;

when the loan is overdue, it is forbidden to increase the interest rate; exception - cases where a variable interest rate is provided for by a loan contract.

At the same time, the new rules do not provide for the abolition of interest for the use of credit funds..

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Earlier, at the end of February, some banks voluntarily introduced the same rules for Ukrainians.. While the rules apply to all credit institutions.