Russian President Vladimir Putin signed a law that reduces the maximum daily rate, their full cost and payments on short-term consumer loans and borrowings from July 1, 2023. The relevant document has been officially published. portal legal information.
According to the law, the maximum interest rate is reduced from 1% to 0.8% per day in consumer loan agreements with a repayment period of not more than one year. The ceiling value of a loan or the entire cost of the loan is reduced from 365 to 292% per annum, and the maximum amount of all payments above is reduced from 150% to 130% of the loan amount.
The law provides for halving the maximum permissible amount of fixed payments on consumer loans issued to individuals, up to ten thousand rubles for a period of up to (inclusive) 15 days. In addition, accrual of interest, penalties and commissions according to these micro loans ends when the sum of these payments reaches 15% of the principal debt instead of 30% as before.
It was previously reported to the State Duma of the Russian Federation accepted In the third reading, a law tightening the standards for microfinance institutions (MFOs) to give loans to citizens.