Military Bonds in 2026: How Much Can You Earn and Is Income Taxable?

Military bonds remain one of the ways available to Ukrainians to invest and simultaneously support the state budget. In 2026, citizens’ interest in OVDP continues to grow, and the volume of government securities owned by individuals has already exceeded 150 billion hryvnias.

What are military bonds

Military bonds are a type of domestic government loan bonds (OVDP). The state issues them to attract funds to the budget, in particular to finance needs in conditions of full-scale war.

The mechanism for the investor is quite simple: a citizen buys government securities, and after their maturity, the state returns the nominal value and pays the income stipulated in the terms of the issue.

The amount of earnings depends on the specific bonds, their term of circulation, the rate and the price at which they were purchased.

Among hryvnia-denominated military government bonds, there are issues with rates exceeding 16% per annum, and for individual securities the figure exceeded 17%.

How much can you earn with 100 thousand hryvnias

If you conditionally purchase military bonds with a nominal value of 100 thousand hryvnias at a rate of about 16% per annum and hold them until maturity, the estimated income for the year may be about 16 thousand hryvnias.

However, the actual result may differ. Not only the nominal rate is important, but also the purchase price of the securities, the maturity date and the terms of a particular issue.

In addition, government bonds can be sold on the secondary market before the established term. In this case, the financial result will depend on the market value of the securities at the time of sale.

Do I need to pay income taxes

One of the features of government bonds for individuals is their tax regime.

According to the rules established by the Tax Code of Ukraine, income of individuals from government securities, in particular OVDPs, is not included in taxable income.

At the same time, before purchasing securities, investors should check the current terms of a specific issue, as well as possible commissions of the bank or broker through which the transaction is carried out.

Ukrainians are increasing their investments in OVDPs

The popularity of government bonds among the population has increased significantly over the past year.

According to the Ministry of Finance, as of June 24, 2026, the portfolio of OVDPs owned by individuals reached 153.6 billion hryvnias, setting a historical maximum.

At the beginning of July, citizens’ investments amounted to about 150 billion hryvnias – approximately 59% more than a year earlier.

Thus, OVDPs are increasingly used by Ukrainians not only as a way of financial support for the state, but also as an investment instrument.

Where to buy military bonds

Ukrainians can purchase military government bonds through banks and licensed brokers. Individual issues are also available directly through the “Diya” application.

In particular, in 2026, the “Bilogirsk” military bond issue was presented with a nominal yield of 15.15% per annum and maturity in July 2027.

Before buying, you should pay attention not only to the interest rate, but also to the maturity date. If the money may be needed earlier, the sale of bonds before the maturity date may take place at a market price that will differ from the cost of their purchase.

Thus, the amount of potential earnings on military government bonds depends on the amount invested, the yield of a specific issue, the investment term, and the purchase price of the securities. At the same time, the funds raised by the state through military bonds are directed to financing the state budget in times of war.