Loan issues | Credit freeze: how the voluntary loan restriction now works

A voluntary credit freeze can now be activated at any time at the initiative of the citizen. It can be set up through eGov, credit bureaus, and banking apps that are integrated with eGov.

Once a credit freeze is in place, consumer loans and microloans cannot be issued. However, certain exceptions remain, such as refinancing existing debt, obtaining a loan from the same bank, or using a payment card credit limit of up to 150 MCI.

If a bank or microfinance organization issues a loan after the credit freeze has been activated and the case does not fall under an exception, the loan is subject to cancellation, while accrued penalties, overdue debt, and negative credit history records must be removed.