The actual installment cost of goods positioned as free of charge may be 60% annually. This was announced by Alexander Danilov, head of the regulatory department of the Bank of Russia, writes RBC.
“Have you seen somewhere a free installment plan (socialbites.ca)?” – asked a question on the Finopolis forum, suggesting that such an installment plan will most likely not come true.
Danilov also added that most installment plans contain some conditions.
“There is a penalty if you don’t pay anything. If you are late, the fee is included. We thought: 60% per year,” the expert informed.
According to him, this needs to be regulated because it affects one’s budget.
Danilov added that the Bank of Russia is analyzing large companies, not “marginal” installment services.
RBC reportedA bill has been submitted to the State Duma according to which the maximum installment period will be six months from December 2025 and four months from December 2027. The free installment plan limit is 15 thousand rubles. Marketplaces asked the authorities to remove this limit. The changes will also prohibit sellers from setting different prices for the same product depending on whether it is purchased in installments or not.
With idea Associate Professor of the Financial University of the Government of the Russian Federation Pyotr Shcherbachenko said that the amount of free installments of up to 15 thousand rubles is not enough to purchase socially important goods, including household appliances and electronics. He emphasized that in order to reduce the debt burden of the population, it is necessary to talk about ways to create a financial safety net as well as increasing the financial literacy of the people.
Previously it became clearThat is why Russians mostly take microloans.