Translation. Region: Russian Federal
Source: Central Bank of Russia –
An important disclaimer is at the bottom of this article.
Banks are not required to set an anti-fraud cooling period for a car loan if the money is transferred to a car dealer, including through the borrower's bank account. In this case, settlements must be made in such a way that the client cannot change the purpose of the payment or withdraw the money in cash. explanation given by the Bank of Russia.
Let us recall that the cooling-off period for loans and credits is set to begin on September 1, 2025. by law to protect borrowers from fraudulent activities. Lenders may issue loans to clients in excess of 200 thousand rubles no earlier than 48 hours after the conclusion of the agreement.
However, the rule does not apply to targeted car loans. This is due to the fact that such a loan is considered targeted, and it is assumed that the borrower has already made an informed decision. And the risk of theft of borrowed funds by fraudsters is minimal, because the money is immediately transferred to the account of the seller of the vehicle.
Preview photo: Merch Hub / Shutterstock / Fotodom
Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.