Restriction on payment of interest to microfinance organizations. The maximum interest on a microloan based on the law. What has changed for microfinance organizations

For example, with a loan of 5000 rubles. the borrower's debt at no time can exceed 20,000 rubles, the regulator said in a statement. This amount includes the amount of the loan in the amount of 5000 rubles. and accrued interest in the amount of 15 000 RUB. However, this rule does not apply to fines and penalties, as well as payments for services provided to the borrower for a fee.

Interest limits were introduced in March 2016, when they could not exceed four times the loan amount. First Deputy Chairman of the Central Bank Sergei Shvetsov pointed out that this should not exert significant pressure on the business of conscientious market participants. He promised that the Central Bank will analyze how the business of companies will change, and after that “it will be possible to make a decision to reduce this figure by half.

Another restriction, which comes into force on January 1, concerns the delay in payments on a short-term (up to one year) microloan, the Central Bank indicates: after the delay occurs, the MFI can charge the debtor interest only on the remainder of the principal amount, but the accrual will stop as soon as the interest reaches double this amount.

Payroll rate

According to the Central Bank, the average market total cost of a microloan is up to 30,000 rubles. for up to 30 days in Q3 2016 was 596% per annum, from 31 to 60 days - 310% per annum, and over 365 days - 55.7%. The average amount of a microloan to individuals in the third quarter amounted to 9,200 rubles.

The law is aimed at limiting the appetites of individual players in the microfinance market, who did not care too much about building a strategy for long-term work in the market, Boris Batin, CEO of MoneyMan, believes. In general, the market was ready for the fact that the restrictions would be tightened, but the profitability of some participants would still decrease, especially those who kept loans with a large delay on their balance sheet, accruing interest and hoping to recover the entire amount, Andrey Paranich, deputy director of Mir SRO, warns. However, according to him, market leaders tend to write off debt 90 days or more overdue, as it reduces profits. Most companies sell debts to collectors after the delay exceeds 90 days, confirms the general director of Bystrodeneg Yuri Provkin, it is unprofitable to accrue interest further - the tax is paid based on the accrued interest, and not on the actual income received. The restrictions, according to Paranich, concern loans up to one year, since that is where the high rates are (see cut).

For the market, this is a significant limitation, the profitability of some companies may be reduced by 30%, says Provkin. The restriction will reduce interest income, but will allow borrowers not to get into a situation where the debt becomes disproportionate to the original loan amount, says a representative of the company PAY P.S. (MFI, issues loans online), which means that the likelihood of returning even old debts is growing.

A microloan is a profitable deal for both the microfinance organization itself and its client. The borrower receives the necessary funds here and now, and the microfinance organization receives a high income from interest for the use of funds, which reaches 4% per day.

Not always the borrower is able to pay such high interest and a debt arises. As soon as there are delays fines are assigned. If at this stage the debtor cannot pay off, the microfinance organization engages a collection agency.

The profit of an MFI is interest that puts psychological pressure on a person. 4% per day - at first glance, this is a trifle, but in terms of the month of using the loan, you get a round amount to be reimbursed. But there are people who are unable to repay a microcredit even for a whole year.

In European civilized countries, the system of issuing small loans is also common, but there are no extortionate interest rates, there is no practice of forceful demand to return the previously taken microcredit.

In Russia, due to a relic of the 90s of the twentieth century, microfinance is a very sore subject, which is discussed in our state and at the highest level.

In order to stop extortion, misconduct on the part of collectors, the President of the Russian Federation has recently adopted a number of laws regarding changes in the microcredit and banking sectors and collection agencies. The activity has not yet been completely banned, but the monitoring of their behavior has been tightened. Now collectors cannot insist on a conversation with the debtor if he does not want to. He only needs to notify the collection agency in writing of the refusal.

Significantly reduced the possible number of calls and visits to the debtor.

Other bills relate directly to the microfinance market. Only an organization that officially has the status of a microcredit is entitled to issue microloans. MFIs were usually born at banking institutions, but some companies were engaged in issuing loans clandestinely. The Russian government decided to eradicate this.

Another law that caused an uproar in microfinance institutions and made the lot of some borrowers easier concerns the calculation of the final debt.

On January 1, 2017, articles of the Federal Law “On Microfinance Activities and Microfinance Organizations” came into force. They disclose provisions that prohibit unreasonably high interest rates on microcredit. The law does not specifically refer to the amount of the maximum interest rate on microloans; it establishes the total possible amount of funds to be returned to the microfinance organization.

The bill received a wide response, because it significantly oppressed those involved. But the authorities took care, first of all, of citizens who live on loans and credits and do not know where to go.

Until recently, the interest rate for using a loan for a year would have been 700% - this is a large amount of overpayment. But this was the income of microfinance companies. They issued loans without checking the solvency of a person, and then they began to intimidate them with collectors, police, courts, bailiffs, etc. Due to the weak legal literacy of the population of Russia, this brought good profit.

Today, the bill regulates the procedure for collecting funds from debtors:

a threefold limit on interest - this means that the maximum amount of overpayment is equal to a coefficient of 3. In other words, a person took a microcredit in the amount of 5 thousand rubles. Even if he did not pay them for two years, then the court, according to the new law that has already entered into force, will be obliged to recognize a debt of a maximum of 20 thousand rubles for him. 15 thousand rubles in this case is three times the amount of%, and 5 thousand rubles is the main body of the loan.
termination of accrual of overpayment as soon as it reaches twice the loan amount - previously microfinance organizations charged interest not only on the body of the loan, but also on the accumulated debt. Now the maximum interest rate on a microloan, according to the law, is twice the size of the body of a microcredit. And even if other conditions are prescribed in the contract, in court a microfinance organization has the right to demand only double the amount of interest.

Both scenarios are being considered by the court.

For a long time after the appearance of the first microfinance organization, the state gave freedom of action to these companies in the field of setting interest rates. This led to the fact that many borrowers, having taken a microcredit, paid an amount ten times higher than the original one. The law on microloans, which entered into force on January 1, 2017, limited the possibility of excessively high accrual of interest on loans, also affecting many other aspects.

What has changed for microfinance institutions

The above law on microloans regulates the relationship between borrowers and MFIs. Companies carry out their activities on the basis of the Civil Code and Federal Law. At the same time, they are registered in the unified register of the Central Bank of Russia and are obliged to provide it with reports on the work performed after certain periods. In addition, unscheduled checks of company data may be carried out. The 2017 Law on Microloans made the following changes to the activities of organizations issuing loans to the population:

Division into MFC and MCC - microfinance and microcredit companies, respectively. The difference lies in the fact that the former have the right to conduct financial activities both in terms of issuing loans and attracting deposits, while their authorized capital must be at least seventy million rubles. They can also attract investors from outside, while the amount of investments can be at least one and a half million rubles. MCCs acquire the right exclusively to issue loans.
Issuance of loans via the Internet is now allowed only by the IFC. MCCs will work through stationary points or with the help of specialists who personally meet with borrowers.
Customers are now identified not only by passport, but by SNILS. To do this, IFCs must send a request to intermediary banks, which in turn receive information about a potential client in the Pension Fund of the Russian Federation.

Law on MFIs 2017 | Worth knowing!

According to the law on microloans of 2017, all existing MFIs were transferred to the status of MFCs. In one year, they must independently decide which of the two types of companies they belong to.

How the new law affected the terms of loan repayment

The new law on microloans is aimed at protecting citizens applying for borrowed funds from MFIs:

There is a maximum amount of interest on a loan. Under the new law, they cannot exceed the loan amount by more than three times. That is, if the client took 3,000 rubles, then after reaching the amount of interest of 9,000 rubles, their growth stops. This restriction applies to contracts with a term of up to one year. However, the law does not apply to fines, penalties and forfeits.
Additional paid services also do not fall under the law. This may be a fee for improving or checking credit history, insurance. Interest on them can grow as before.
The changes also affected the procedure for calculating interest. If there are overdue payments, interest is calculated only on the remaining loan amount. At the same time, it has a ceiling - it can exceed the loan amount no more than twice. As long as the borrower does not contribute funds to repay it, it cannot increase.
When concluding an agreement, the MFI is obliged to indicate all restrictions on the first page of the agreement.

Since the maximum interest on a microloan is limited by law, many MFIs try to circumvent it by indicating the loan amount at a minimum amount, while interest is charged, for example, on a credit history recovery fee. You should carefully study this clause in the contract.

The maximum amount of a microloan under the law is one million rubles for the MFC and half of this amount for the MCC.

How the law on MFIs 2017 affected the activities of collection agencies

When the law on microloans was adopted, the greatest changes affected collectors, who now do not have the right to:

Call on weekdays from 22.00 to 08.00, on weekends from 20.00 to 09.00 (at the same time, the number of calls cannot be more than one);
Send more than two messages per day to the phone;
Visit the debtor more than once a week;
Notify others about the debt of the defaulter, using leaflets, announcements.

At the same time, the law on microloans also regulates the size of the authorized capital of collection agencies - it must be at least ten million rubles.

The Micro Loan Interest Act is designed to protect the public, and plans are being made to find ways to significantly reduce the maximum amount of interest charged. These changes are not expected soon, because before March 1, 2018, all MFIs need to decide which category - IFC or MCC they fit and how this choice will affect their future activities.