A large Russian bank announced the effectiveness of the self-prohibition mechanism for consumer loans

VTB assessed the effectiveness of the self-prohibition mechanism for consumer loans: every month the new service helps clients save about 300 million rubles by blocking unwanted loans and reducing the risks of fraud.

As of early December, about 5% of borrowers who applied for loans used the tool. According to the bank's forecasts, next year the figure will remain at the same level. About this on the eve of the 16th VTB Investment Forum “RUSSIA CALLING!” said Senior Vice President, Head of VTB Retail Business Products Department Alexey Okhorzin.

The self-prohibition mechanism, introduced on March 1, 2025, allows Russians to independently limit the issuance of new consumer loans remotely through the State Services portal or at the MFC. The ban does not apply to mortgages, car loans and educational loans. Information about the restrictions introduced is reflected in the credit history and is stored until immediately canceled by the borrower.

“Modern customer protection mechanisms are becoming more sophisticated and effective. They help not only to protect money from fraudulent schemes, but also to prevent rash and spontaneous decisions. Interest in self-prohibitions reflects the increase in financial literacy and responsibility of the population and makes it possible to reduce risks by blocking potentially dangerous loans already at the stage of consideration of applications,” commented Alexey Okhorzin, VTB Senior Vice President, Head of the Retail Business Products Department.

At the beginning of September, VTB launched its own self-restriction service. Bans can be set on remote processing of consumer loans, cash car loans and on early withdrawal of money from a deposit. To remove restrictions, the client will need to contact the bank office in person.

On September 1, an additional protection tool became operational – the “cooling off period”. For loans in the amount of 50 to 200 thousand rubles, the disbursement of funds is postponed for at least 4 hours after signing the agreement, and for amounts over 200 thousand – for 48 hours. At this time, the client can refuse the loan and stop processing if fraudsters are trying to take out the loan. According to bank statistics, the percentage of refusals during this period does not exceed 3%. At the same time, in offices this figure is lower than when applying online, and loans up to 200 thousand rubles are refused less often than for larger amounts.

In addition, since 2017, it has been possible to establish a self-ban on real estate transactions without personal presence through Rosreestr or State Services. This helps especially elderly owners and owners located far from their place of residence to prevent unlawful disposal of property.

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