Translartion. Region: Russians Fedetion –
Source: Central Bank of Russia –
The total cost of credit (TCC) under consumer credit (loan) agreements concluded or amended from April 1, 2025, must not exceed by more than a third average market value for the relevant category of credit (loan). Limiting the APR will help control the growth of interest rates on loans, which will ensure the protection of people’s interests.
In Q4 2024, the Bank of Russia decided to temporarily lift the PSC1 restriction so that financial institutions could adapt to the tightened monetary conditions. During the relaxation, market participants managed to adjust the cost of their credit products. Now that market conditions have generally stabilized and the cost of funding has begun to decline, financial institutions can comply with the PSC restriction as usual.
1 From October 10, 2024 to March 31, 2025 suspended limitation of the APR for credit institutions on consumer mortgage loans for the purchase (construction) of housing or land.
From January 1 to March 31, 2025 suspended limitation of the APR for credit institutions for all other categories of consumer loans (credits); for credit consumer cooperatives, agricultural credit consumer cooperatives, pawnshops – for all categories of consumer loans; for microfinance organizations – for certain categories of consumer loans.
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