Cooling-off period for consumer loans and microloans to become effective on 1 September 2025
Starting from this date, loans and microloans worth ₽50,000—200,000 will be available for use only four hours after a consumer loan (microloan) agreement is signed, while those over ₽200,000 will become available in 48 hours. During the cooling-off period, a borrower is entitled to cancel the loan agreement. These rules are established by the law, which will help protect people from taking out loans and microloans under the influence of fraudsters.
The cooling-off period will not apply to loans and microloans below ₽50,000 as well as to mortgage, education, and car loans (if funds are transferred to a car seller that is a legal entity). A fast purchase of goods and services on credit will be possible only during a personal visit to a store (an organisation). The cooling-off period will not apply to loans taken out with the participation of a co-borrower or guarantors, as well as a borrower’s trusted contact person. It will be possible to refinance loans and microloans issued earlier without any delays if the outstanding amount does not increase.
More information about the cooling-off period and other measures introduced to counter credit fraud are available in the Questions and Answers section.