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BANKS HAVE RAISED CREDIT CARD RATES

... moratorium by the underestimated indicators of a number of banks on credit cards in the third quarter of last year. These data serve as the basis for calculating the maximum full cost of the loan in the first quarter of 2025. According to the rules of the Bank of Russia, the maximum total cost of a loan cannot be more than a third higher than the average market rate.

THE LITERACY TEST WAS PROPOSED TO BE MADE MANDATORY WHEN RECEIVING THE FIRST LOAN

... deputy to the head of the Central Bank, Elvira Nabiullina. According to Demin, the literacy test should include information about the actual amount of overpayments and the situation in the economy. In addition, it should contain data on the real risks of bankruptcy of a citizen. The deputy from the New People faction notes that the mandatory introduction of a financial literacy test when receiving the first loan should help reduce the number of impulsively taken loans. Also, such an innovation will help reduce the risks of falling into a debt trap.

ALFA-BANK RAISES THE INITIAL MORTGAGE PAYMENT

... The new mortgage commission will affect transactions for the purchase of primary and secondary housing, as well as private homes. It already operates in VTB, Sberbank and Alfa-Bank. As experts explain, such a fee is a necessary measure. Earlier, the Bank of Russia reduced the possible maximum full cost of the loan. If the costs are included in the loan amount itself, then its full cost may exceed this limit. In this way, credit institutions are trying to maintain their profits.

Costs of loans and mortgages may rise for unvaccinated citizens

... policy of issuing loans in the nearest future - clients without vaccination certificates may expect an unpleasant surprise in 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 ...

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