Cooling period for loans

Starting on December 14, 2024, O!Bank introduces the “cooling period” for online loans as required by NBKR.

The National Bank of the Kyrgyz Republic has passed a decree aimed at strengthening the confidence in the banking system and protecting clients in the context of digital finance service growth.

The mentioned decree introduces the “cooling period” term for online loan issue.

What does it mean?

From now on, the money lent online are credited after a specific period, not at once.   

The cooling period duration depends on the loan amount:   

• 15,000 to 50,000 KGS: 3 hours;

• 50,000 to 100,000 KGS: 6 hours;

• over 100,000 KGS: 24 hours.  

In case of a loan over 100,000 KGS, control call will be made to confirm the client’s consent.   

Loans in amount of up to 200,000 KGS are available in the upgraded My O! superapp. Use this link to learn more.