The National Bank of Ukraine (NBU) introduced changes to the rules, under which the banks calculate the total cost of the consumer loan and real annual interest rate under the consumer loan agreement, NBU’s press office informs.
In particular, the National Bank supplemented the rules with the regulation, which is in the Law on Consumer Lending. The law says that in case of lending in the form of crediting the account and credit line, the bank may not provide the consumer with the payments schedule.
The changes will come into force on March 4.
