It enters into force from 1 July in Russia law on lowering the maximum daily interest rate on loans granted by microfinance institutions (MFIs).
The relevant document was signed by Russian President Vladimir Putin at the end of 2022.
It is understood from the document that the marginal rate in micro loans decreased from 1% to 0.8%. It follows from this that the total cost of such a loan can no longer exceed 292% per annum, although previously the maximum amount was 365%.
In addition, this law reduces the maximum interest debt amount from 150% to 130% of the loan amount. Once the debt reaches 130% of the loan amount, MFIs can no longer claim fines, penalties and other additional payments.
The changes also affected the terms of payday loans with a maturity of up to 15 days and not exceeding 10 thousand rubles. The daily rate of such loans decreased from 2% to 1% per day and the maximum loan amount decreased from 30% to 15%. As a result, with a loan of 10 thousand rubles, the amount of debt can reach 11.5 thousand rubles.
In February, the Committee of the Federation Council on Economic Policy of the Russian Federation made a proposal to the Ministry of Finance of the Russian Federation. increase The upper threshold of the possible volume of microcredit for small and medium-sized entrepreneurs from 5 million to 10 million rubles.
Earlier, the lawyer said that he appeared in Russia new system Fraud, when unauthorized persons take out micro-credits for citizens at a rate of 365% per year.