OREANDA-NEWS. Renaissances Capital Bank (Renaissance Credit TM) has suspended accrual of interests and credit penalties for borrowers conscribed to the Ukrainian Armed Forces, including servicemen, conscripts and reservists.

Throughout the mobilisation period the bank will not charge penalties for untimely credit repayments by borrowers who are servicemen, conscripts and reservists having confirmation documents.

The bank will not charge credit interests during the whole period of their service in the Ukrainian Armed Forces.

How can a serviceman, conscript or reservist take a repayment holiday?

In order to take a repayment holiday, a serviceman, conscript or reservist must apply to any Renaissance Credit branch and provide military service papers.

The documents shall include a mobilisation order issued in compliance with the laws of Ukraine and a military card or a temporary military card (with a military service record).

A borrower can also mail copies of the above documents to the bank, while the latter reserves the right to verify them and demand the original copies.

When suspending the penalties, the bank considers information of the official government agencies (the Ministry of Defence of Ukraine or its divisions, the National Bank of Ukraine) about the borrower's military service, given that such borrower is identifiable.

Renaissance Capital Bank (Renaissance Credit TM) is a part of FUIB Banking Group providing customer lending to Ukrainian individuals since 2006. The bank offers cash advance loans, consumer loans, credit cards and deposits. The sales network of lending products covers more than 4,000 outlets across Ukraine, including 900 own outlets and branches of Renaissance Credit. The bank partners with over 2,500 stores for consumer lending services. Renaissance Capital Bank is a part of SCM Group, the biggest financial and industrial group in Ukraine.