Senators of the Russian Federation approved amendments that make it easier for citizens to pay off debts on consumer loans. The agency reports that “Hit the primer”.
The changes will affect the order of debt repayment in case of lack of funds for full repayment of the loan.
Currently, the interest of the loan is paid first, then the principal, then penalties and other payments. According to the adopted law, the penalty will be moved to the end of the list.
“This will allow borrowers to repay the interest and principal amount for the current payment period before paying the penalty,” the publication writes.
The changes are expected to come into force on July 1, 2024. They will be valid for contracts concluded after the specified date.
Before that, State Duma deputies protected lenders from banks increasing interest rates. According to the document, the bank will be able to: to increase for such borrowers the rate is up to the level prevailing at the time similar uninsured loans were made. The State Duma explained that this was done to protect people from a sharp increase in mortgage prices.
Previously VTB guess There was a 16% decrease in individual loan issuances.