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25 May, Monday

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Молния

Government approved maximum loans entitled to repayment holidays

Economy/Business

The Russian Government has approved maximum loan sizes for banks to provide loan breaks.

According to a government decree, the maximum amount of a consumer loan for individuals to receive repayment holidays will be 250 thousand rubles, for individual entrepreneurs — 300 thousand, a consumer loan with a credit limit for individuals — 100 thousand rubles.

The maximum size of a car loan for obtaining a loan break should not exceed 600 thousand rubles.

“It will be 1.5 million rubles for loans issued for purposes not related to entrepreneurial activity, and obligations for which are secured by a mortgage,” the document states.

As the Bashinform News Agency reported, the law on repayment holidays for Russians, whose income decreased by more than a third compared with the average monthly income for 2019, began to operate since April 3.

/translated by Tatiana Aksyutina
Tags: loan breaks
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