Translation. Region: Russian Federal
Source: Mainfin Bank –
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Why are the authorities introducing new restrictions for microloan lovers?
Additional restrictions on the market loans from MFO will be introduced at the initiative of the Central Bank of the Russian Federation. The State Duma explained the tightening of regulation by several reasons:
high level of indebtedness of the population – in 2024 alone, over 6.4 million people became new clients of microfinance organizations; easy access to microloans provokes Russians to make impulsive purchases; many borrowers find themselves in a debt hole, because they take out a new loan to pay off the previous one; also, due to low financial literacy, citizens fall into the trap of unscrupulous lenders and fraudulent companies.
Cooling the industry has been discussed by industry participants since 2024 – the Bank of Russia has planned a large-scale reform: MFIs are planned to be divided into three categories, which will determine the list of services offered and the amount of capital required.
How will the restrictions on issuing more than one loan work?
In 2026, it will become more difficult for Russians to get a loan from microfinance organizations – the State Duma is preparing to introduce several bans that will cool the market:
it will not be possible to have more than one loan in an MFI at the same time; a new microloan can be issued three days after the old debt is closed; the maximum overpayment will be reduced from 130 to 100% per annum; the authorities will introduce a three-day “cooling-off period” for microloans – this is already in effect for credit products of banks (money does not become available immediately after signing the contract).
“Tighter regulation could lead to the growth of the shadow segment, which will entail additional risks for borrowers – in pursuit of “easy” money, Russians could become victims of fraudsters,” experts express their concern.
Measures are also planned to be taken to combat illegal lenders – supervision of the industry will be strengthened and advertising of organizations that do not have a license but offer loans at high interest rates and property collateral will be prohibited. Such companies often disguise themselves as pawnshops and consignment shops, concealing fraudulent activity.
10:00 02.09.2025
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