OVDP are domestic government bonds: debt securities under which the state, represented by the Ministry of Finance, undertakes to repay the face value and pay interest.
In plain words
By buying OVDP you lend to the state for a set period and receive interest and the face value at maturity. Individuals can buy them through banks, brokers or state apps. Under the Tax Code (version of 17 September 2026) interest on government securities issued by the Ministry of Finance is not included in an individual’s taxable income, so it is not subject to personal income tax; income that is outside taxable income is exempt from the military levy. The risks: the market price moves with interest rates and liquidity may be low; deposit guarantee does not apply to OVDP because they are securities, not bank deposits.
Sources
- Tax Code of Ukraine No. 2755-VI of 2 December 2010 — Art. 165.1.2; item 16-1(1.7) of Subsection 10, Section XX (version of 17 September 2026). Checked 14.10.2026.
Example. You buy OVDP for UAH 10,000 for a year at a 15% annual yield (illustrative): under the issue terms you receive about UAH 1,500 in interest, and neither 18% personal income tax nor the 5% military levy is withheld from it.