A credit holiday is not a cancellation, it's just a deferral of debt payments.
< p> During martial law everything changes. Our needs and priorities are becoming radically opposite. and security.
Although we are in such a difficult situation, no one has canceled our obligations. We have to take care of the family, go to work, etc.
The question of loans remained open, because there is nothing to pay it off, and we don’t want to accumulate more debt.
There is a way out — credit holidays .
Loan holidays
The National Bank of Ukraine allowed banks not to consider non-payment of loans as a delay during wartime and 30 days after that, if the non-payment is related to Russian aggression.
Then have introduced such credit holidays. What does this mean?
A credit holiday is not a cancellation, but only a deferral of debt payment.
Also, this function does not reduce the loan amount. Such a break may refer to the payment of the principal amount of the loan or accrued interest.
How to arrange a loan holiday
You need to negotiate with your bank about the execution of this pause. However, if you have enough resources to pay the loan, you should continue to do so.
It should be remembered that the agreement between the bank and the borrower is voluntary.
Some banks already independently initiated a deferral of loan payments. Such information can be found on the official website of your bank or by calling the hotline.