Information that these banks have cancelled credit vacations for their customers is spreading in social networks, in particular in telegram channels. The message says that these banks are now writing off interest on loans, driving Ukrainians into "minus". However, as the fact checker of the project "Spooner" found out, this is a manipulation. "Credit vacations are preferential terms of the contract, when customers have the right not to make the mandatory minimum payment, which is especially relevant in the case of being in a war zone or due to loss of income. PrivatBank's credit vacations for credit cards are valid till June 1, 2022. So, we can conclude that the credit vacations - it is preferential terms of the contract, when customers have the right not to make the mandatory minimum payment, the bank will not penalize for late payments, but they do not mean the absence of interest for the use of credit funds. We also could not find information on the cancellation of credit vacations on the Monobank's website," write the fact checkers.

PrivatBank explained that it continues to be fully responsible for the deposits of Ukrainians regardless of the circumstances and adds that the standard terms of the card grace period remain unchanged. "Credit vacations do not mean no interest for the use of credit funds," explains the speaker of PrivatBank Dokia Kuzmenko. However, in addition to the "vacations," in March PrivatBank set a credit rate of 0.001%, practically making the use of credit funds free. "We did this to support all of our customers and being aware of the more pressing problems facing the country. Our bank and customers understand that the banking system has to work to provide a front and a rear. The economic front is also very important to winning. And that's why, as of April 1, we partially brought back some rates, while reducing them from the pre-war level. For example, now we set the preferential credit rate at 1.7%, which is half as much as before the war. Interest will still be charged in May, but repayment will not be obligatory until June 1 under the credit vacations," the bank explained to the fact checkers. Accordingly, the message that banks canceled the credit vacations and accrued interest, which "drive Ukrainians into deficit," is now a manipulation.