I lived in an occupation and the Oschadbank charged interest on a loan, is this legal?

In accordance with the Law of Ukraine "On Amendments to the Tax Code of Ukraine and other legislative acts of Ukraine regarding the effect of norms for the period of martial law" provides for some relaxation in terms of credit obligations.

Loan relief is as follows:

• During martial law, creditors are not responsible for late payment of loans.

• The bank cannot charge any penalty or fine. Any penalties, fines, etc. charged by the bank for late payment of the loan, starting from February 24, 2022, the bank must write off.

• In case of late payment of the loan, the interest rate does not increase.

• Such changes are effective during the entire martial law and within 30 days after its end.

But banks can continue to charge interest for the use of loan funds, the loan will still have to be paid after the end of martial law. Therefore, if a person has the ability to repay the loan, it is best to pay with interest.

If you are unable to repay loans, it is better to apply to the bank for a loan holiday. Please note that the bank's adoption of such a decision is its right, not its obligation.