Dear clients!
The NBU reports the adoption of the Law of Ukraine No. 2120-IX «On amendments to the Tax Code of Ukraine and other legislative acts of Ukraine regarding the operation of norms for the period of martial law».
The new law changes a number of rules for the operation of banks and non-bank financial institutions, in particular those that provide lending services.
The purpose of these changes is to ease the situation for Ukrainian borrowers for the time of war and for the first time of post-war economic recovery.
So, what is changing:
- during the period of martial law and within 30 days after the day of its termination or cancellation, the consumer will not bear responsibility to the lender in case of delay in fulfilling obligations under a consumer loan;
- in case of such delay, the consumer is released, in particular, from the obligation to pay the lender a penalty (fine, late fee) and other payments, the payment of which is provided for by the consumer loan agreement for the delay in fulfillment (non-fulfillment, partial fulfillment) by the consumer of obligations under such an agreement;
- in case of non-fulfillment of obligations under a consumer loan agreement, an increase in the interest rate for the use of the loan is prohibited, except in cases where the setting of a variable interest rate is provided for by the loan agreement or consumer loan agreement.
Important!
The new rules do not provide for the cancellation of interest for the use of credit funds – such an accrual is lawful on the part of the creditor.
Credit holidays – this is the postponement of debt payment, not its forgiveness.
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