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Costs of loans and mortgages may rise for unvaccinated citizens

... the form of increased rates. A possible legal development was reported by Izvestia. This may affect mortgage and consumer loans. According to the media outlet, the increase in rates for the unvaccinated is associated with insurance risks. In fact, banks have a right to raise the rates - if a client refuses to purchase life and health insurance, then the financial institution will be able to raise interest rates to reduce its risks. Loans bundled with insurance may start to be offered at lower rates ...

The term of unsecured loans may be shortened in Russia

... house of parliament. It is proposed to reduce the term of such loans to five calendar years. Additionally, the document contains a legal development on changing the procedure for calculating the full cost of a loan product, as well as an obligation for banks not to impose additional services on borrowers. It was proposed to make an exception for consumer loans, which are provided for the provision of state or regional subsidies. The explanatory note to the document indicates that it was created to protect ...

What laws come into force in December

From the beginning of winter, a number of laws is about to come into force in Russia, and the most significant of which are here in our selection. Banks will no longer be able to ‘put marks’ against the borrowers’ names We are talking about the marks of the borrower's consent to provide him/her with additional services in the loan agreement. At the moment, banks can put such ‘tmarks’ on their own,...

RUSSIANS MUST PROVIDE FINANCIAL SATEMENTS ON FOREIGN E-WALLETS

... transactions of which exceeds 600 thousand rubles. The head of the Association of Electronic Money and Money Transfer Market Participants, Viktor Dostov , explained that the foreign wallets, which are accepted for payment without going through a Russian bank, are out of law now. This does not apply to foreign payment cards. Violators were warned of penalties. Concealment will cost 20-40% of the amount transferred through the wallet. Inaccuracy in reporting for individuals will cost 2-3 thousand rubles,...

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