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Post: Putin signs law reducing microcredit payments


Russian President Vladimir Putin. archive photo

Putin signed a law reducing microcredit payments from July 1, 2023

MOSCOW, December 29 – RIA Novosti. Russian President Vladimir Putin signed a law on reducing the maximum daily rate, their full cost and repayments on short-term consumer loans and borrowings from July 1, 2023. The document has been officially published portal legal information.

The law stipulates that the maximum interest rate within the scope of consumer loan (loan) contracts with a repayment period not exceeding one year should be reduced from 1% to 0.8% per day.

At the same time, the maximum value of a loan or the total cost of the loan is reduced from 365 to 292% per annum and the maximum amount of all payments above – from 150% to 130% of the amount granted. credit (debt).

In addition, the maximum allowable value of the fixed payment amount on consumer loans (loans) issued to individuals up to 10 thousand rubles for a period of up to 15 days is halved.

According to the law, interest, penalties and commissions are not accrued when such micro loans reach 15% of the principal amount. Previously, this threshold was 30%.

Source: Ria

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