Translation. Region: Russian Federation –
Source: Central Bank of Russia
An important disclaimer is at the bottom of this article.
Installment service operators—intermediaries through which goods, works, and services can be purchased in installments—are now subject to the supervision of the Bank of Russia.registry As of April 1, 14 organizations were included.
Law, which sets requirements for installment plan operators, has come into force. The service is now free for consumers. Different prices for goods are prohibited depending on whether they are purchased through an installment plan or not.
The maximum period for which an installment plan can be issued is 6 months from April 1, 2026, and 4 months from April 1, 2028.
Information on outstanding debts over 50,000 rubles with a single installment plan provider will be transmitted to credit bureaus. This will allow banks and microfinance organizations to better assess the debt burden of individuals applying for a loan.
The penalty for late payment of such payments is limited to 20% per annum of the overdue debt, which protects people from accumulating excessive debt.
The regulator allows installment plan operators to enter the financial market and maintains a register of them. Materials on the admission procedure have been published. on the Bank of Russia website.
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