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The term for issuing unsecured loans in Russia may be limited to five years, and banks will be required to include in the calculation of the total cost of loans any payments to the lender and offer alternative loan options without purchasing additional services.
The corresponding bill is planned to be adopted in the spring session of the lower house of parliament, one of the authors of the document, the head of the State Duma committee on the financial market, Anatoly Aksakov, told the Izvestia newspaper.
Moreover, the newspaper notes, the Ministry of Finance and the Central Bank of the Russian Federation support the initiative.
However, financial institutions and experts warn that the adoption of the document may lead to an increase in interest rates and reduce the availability of loans for citizens.
We also recall that earlier the Kommersant newspaper stated that Russian banks in January of this year provided the population with 913.9 billion rubles. loans (an increase of 22.7% yoy), which was another record for this month in the retail lending market.
As the publication pointed out, in the segment of long and expensive loans – mortgages and car loans – there has been a slowdown in the number of loans issued. However, in the unsecured segment, citizens, on the contrary, increased their activity, including against the backdrop of high inflation.
Source: Rosbalt
Tristin is an accomplished author and journalist, known for his in-depth and engaging writing on sports. He currently works as a writer at 247 News Agency, where he has established himself as a respected voice in the sports industry.
