Online Loan for Military Personnel

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What credit benefits are provided to military personnel according to the law?

In Ukraine, special credit obligation benefits are in effect for servicemen of the Armed Forces of Ukraine (AFU) from the start of the special period until its end. The same guarantees apply to reservists and liable military personnel—from the moment of their mobilization until the end of the special period.

According to Clause 15 of Article 14 of the Law of Ukraine "On Social and Legal Protection of Servicemen and Members of Their Families," these categories of citizens are exempt from the accrual of interest on already issued loans. It is important to note that the provided benefits do not mean a complete write-off of the debt—the exemption applies only to interest, fines, and penalties, but not to the main loan amount (the principal).

To exercise the right to these benefits, the serviceman must notify their bank or creditor in writing and attach documents confirming the fact of military service—for example, a military ID, a mobilization order, or a certificate from the military unit. Only upon receiving official notification is the creditor obliged to cease the accrual of interest and penalties for the duration of the special provision.

Why might banks and MFOs reject a new loan application?

Despite the fact that servicemen of the AFU enjoy high public support and a number of benefits, banks and microfinance organizations (MFOs) may reject an application for a new online loan. The most common reasons for refusal are:

• Providing unreliable information and/or having critical errors in the application form (for example, when specifying passport data or full name);
• Lack of confirmed income or instability of cash receipts;
• Low credit rating or current delinquencies on active loans;
• A large number of open loans;
• The card for crediting loan funds does not belong to the serviceman applying for the loan;
• Non-compliance with the financial institution's age restrictions (for example, when the borrower's age is below the minimum required).

Also, MFOs will definitely refuse to grant a new loan if the borrower already has an outstanding loan with the specified credit organization at the time of application.