In the event of the final adoption of the law, banks will no longer be able to include in the loan agreement a clause on the mandatory minimum balance on the account from which the debt is repaid.
According to vesti.ru, the account can be kept empty for almost a month and replenished only on the eve of the bank writing off the next payment.
Banks will also no longer be able to impose any additional services and lump-sum payment of insurance payments for the entire lending period. The maximum penalty for failure by the borrower to repay the loan will not exceed 20% of the amount of the overdue debt.
At the same time, the Central Bank plans to include in the calculation of the cost of the loan payment for all additional services. This means that the full cost of the loan will include such payments that are not related to the loan itself. For example, legal advice, medical insurance and some commissions.
Most often, the loan recipient does not know about the cost of additional services that the bank offers him to purchase along with the loan. And therefore, it does not fully understand the level of financial burden received. Including the full cost of these additional products in the calculation will help increase the transparency of such services.