Borrowers can take credit holidays twice - Central Bank

As Mikhail Mamuta, head of the Service for the Protection of Consumer Rights and Ensuring the Availability of Financial Services of the Bank of Russia, explained, borrowers have the right to take credit holidays more than once.

“The emergence of holiday laws has pushed most banks to launch their programs. Therefore, if a person finds himself in a difficult situation, asking the bank what kind of holidays they are given - by force of law or according to the bank’s program would be appropriate? If so, by the bank's internal program, the borrower retains the right to retake a vacation by law. And then let him see what is more convenient. The main thing is that he is satisfied with the results, "explained the top manager.

According to the Central Bank, in 2023, according to the law and banks’ programs, almost 870 thousand loans and borrowings from citizens were restructured for a total amount of 454 billion rubles, as well as 17.4 thousand loans for small and medium-sized businesses for a total amount of 509 billion rubles.

Credit holidays are permanent from 2024. This measure was first introduced during the pandemic to support people and businesses. As Bashinform News Agency reported, vacations can be taken on vintage consumer loans. Back in the summer, such standards came into effect for mortgage loans.

Author: Elina Akhmetova