The Central Bank will prohibit issuing more than 10 thousand rubles “before payday”
The Bank of Russia will force microfinance organizations (MFOs) to reduce the maximum amount of short-term loans to 10,000 rubles, and their terms to 15 days. The maximum rate will be 1.5% per day, and from July 2019 - 1%. In this scenario, the maximum amount of overpayment on a payday loan will be 2-3 thousand rubles, taking into account all fines and penalties. Now such loans can be issued for up to 45 thousand rubles, the average rate is 2% per day, the maximum term is about 2 months.