Notices about new loan agreements to be sent via Public Services portal
Borrowers will be notified of new loan (microloan) agreements via their personal accounts on the Public Services portal. They will thus quickly receive information about their debt obligations and be able to waive them during the cooling-off period if a particular loan (microloan) agreement has been signed through fraud or has been an impulsive decision. This law developed jointly with the Bank of Russia was adopted by the State Duma.
Starting from 1 October 2027, banks and microfinance organisations (MFOs) will be obliged to promptly transfer information on consumer loans (including credit cards) and microloans to credit history bureaus. The latter, in turn, will immediately send these data to the borrowers via their personal accounts on the Public Services portal.
The notification of a new loan or microloan should indicate individual terms, the interest rate, the principal or the credit card limit, and the repayment period. If the amount exceeds ₽50,000, the notification should also include information on the option of refusing the disbursement and specify the exact period during which the person should contact the bank or MFO to cancel the agreement. Thus, borrowers will receive the notification even if the relevant message or push notification from the bank or MFO fails to reach them for any reason.
This is another instrument protecting people from financial fraud and allowing them to quickly withdraw from hastily signed loan (microloan) agreements.