How to buy Ukrainian government bonds (OVDP): step by step via Diia, a bank or a broker

What OVDP are and why people buy them

OVDP, Ukraine's domestic government bonds, are a way to lend money to the state. You buy a bond, the Ministry of Finance pays interest and returns the face value on the maturity date. The face value is 1,000 hryvnias, dollars or euros, depending on the issue.

Ukrainians use them widely: as of 1 October 2026, individuals held OVDP worth UAH 167.5 billion. There are three reasons: the state as the borrower, a fixed yield for the whole term and no tax on the income.

Why OVDP income is better than it looks

The bank withholds personal income tax of 18% and military levy of 5% from deposit interest, 23% in total. Interest and redemption income on OVDP, as well as profit from selling them before maturity, are not included in taxable income, so you keep the full yield.

So OVDP yielding 14% give as much as a deposit at 18.18% a year. You can work out your own deposit after tax in the deposit calculator, and a detailed comparison of guarantees and risks is in our article on deposits vs government bonds.

Where to buy OVDP

Make sure the bank or broker is licensed by the NSSMC: how to check is explained in our guide on how to check a broker. Never buy OVDP through outside «intermediaries» who ask you to send money to a personal card: that is a sign of fraud.

How to buy OVDP step by step

1. Choose a provider. In Diia, open the «Military bonds» section on the main screen. If you buy from a bank or broker, find the OVDP section in their app or account.
2. Compare issues. Each bond shows its maturity date, currency, price and yield to maturity. Yield to maturity is the key figure: it already reflects the price, coupons and term.
3. Enter the number of bonds. The app shows how much you pay now and how much you receive at maturity.
4. Sign the documents and pay. The provider opens a securities account for you if you do not have one. The bonds usually appear in your account within three working days.
5. Keep the confirmation. A statement from your securities account shows how many bonds you hold.

How you receive income and get your money back

• Coupons. On most hryvnia issues, the Ministry of Finance pays a coupon every six months. Short bonds may have no coupon: the income is then the difference between the purchase price and the face value.
• Redemption. On the maturity date, the face value and the last coupon are paid automatically to the account you named when opening the securities account. You do not need to do anything.
• Selling before maturity. You can sell a bond earlier through the same provider, but at the market price, which may be higher or lower than what you paid. So invest in OVDP money you can leave for the whole term.

Common mistakes

• Comparing bonds by price rather than yield to maturity. A cheaper bond is not necessarily a better deal.
• Choosing a longer term than you need. If you need the money earlier, you may lose part of the income when selling.
• Keeping your whole emergency fund in OVDP. Part of it is better kept in an account you can withdraw from on any day.
• Buying currency OVDP without counting the exchange. The spread when buying currency can eat part of the income.

In short

• OVDP are bought in Diia, in a banking app or through a broker. One bond has a face value of UAH 1,000.
• OVDP income is tax-free, so 14% on OVDP equals about 18.18% on a deposit.
• Choose by yield to maturity and fees, not by bond price.
• In September 2026, military OVDP were placed at Ministry of Finance auctions at 15.16-15.18% a year.
• Coupons and redemption are paid automatically; selling before maturity happens at the market price.

This article is for information only and is not investment advice. We do not recommend specific banks or brokers. Terms, prices and fees change, so check them with your provider before buying.