Overpayments on loans and borrowings have been limited in Russia.

      A series of laws aimed at protecting the financial rights of citizens and reducing debt burdens came into effect in Russia on April 1. This was reported by the press service of the State Duma. The new regulations are designed to strengthen the protection of citizens and their savings, as well as to make the financial and banking system more balanced, so that borrowers do not face excessive and unjustified expenses. All changes took effect on April 1. State Duma Chairman Vyacheslav Volodin noted that protecting citizens and their savings, as well as improving financial market regulation, remain priority areas for the parliament's work. He added that since 2025, 58 federal laws aimed at developing financial regulation have already been adopted. The State Duma also explained that as of April 1, a law establishing rules for installment service operations came into effect. Now, when purchasing goods in this manner, their price must be equal to the cost when paid in full, and the maximum installment period is limited to six months. As Volodin emphasized, such services have become popular in recent years; however, there were no unified rules for their regulation before, which created risks for users. He also noted that the corresponding changes were initiated by the deputies. Furthermore, as of April 1, a limit on charges for consumer loans and borrowings with a term of up to one year came into effect. Now, the amount of interest, penalties, and fees cannot exceed 100% of the principal debt instead of the previous 130%. This means that the total amount of debt cannot exceed twice the amount of the loan.

      Photo: © Salavat Kamaletdinov / "Tatar-inform"