Russians will be banned from taking out more than one loan in MFIs from 2026

Starting in 2026, Russians will not be able to take out more than one loan from microfinance organizations (MFIs) at the same time. Such measures were announced by Anatoly Aksakov, head of the State Duma Committee on the Financial Market, in an interview with Izvestia.

The first debt: half of the clients of MFIs take loans to pay for housing and communal services and basic needs

What is the reason for the growing demand for such loans and what will change this alarming trend?

According to the Central Bank's initiative, if a person already has an outstanding debt, they will be refused a new one. Also, starting in 2026, Russia will introduce a three-day cooling-off period for issuing loans so that citizens can think about their decision. In addition, the authorities intend to reduce the maximum level of overpayment for microloans from 130% to 100%.

These proposals have already been submitted to the State Duma and will be considered in the autumn. Aksakov noted that the ideas were discussed with departments and market participants. The authorities supported the initiative, noting that it is important to limit abuse amid the growing demand for microloans from citizens.

Experts fear that such restrictions may lead to an increase in shadow lending, so it is planned to tighten control over this area, including a ban on advertising the services of black lenders, which is also proposed by the Central Bank. In addition, MFIs attract customers through the instant issuance of loans, which sometimes contributes to impulsive decisions. In this regard, the cooling-off period will become an important tool for protecting the interests of borrowers.

Read more in the exclusive Izvestia article:

An interesting story: Russians will be banned from taking out more than one loan from MFIs starting in 2026.