Deputies proposed automatically reducing rates on existing loans if the key key falls

LDPR deputies have submitted to the government a bill to automatically reduce interest rates on consumer loans. The initiative assumes that banks will be required to reduce rates on existing agreements when the Central Bank’s key rate is reduced.

As RIA Novosti writes with reference to the explanatory note, the reduction should take place without an application – borrowers will not have to contact the bank. The interest rate will decrease in proportion to the decrease in the Central Bank key rate.

“Financial paradox: The Central Bank reduces interest rates, but rates for people remain at the level of the crisis years. So the current decrease from 21% to 16.5% did not affect debt payments in any way. It is clear that this is beneficial for the banks, but given the excess profits of the sector, reaching billions of dollars, it is not their interests that need to be taken care of, but the budgets of ordinary Russian families“, said party leader Leonid Slutsky

According to him, about 13 million of them make payments every month under three or more contracts at once, while the average amount of debt of a person with overdue payments is 185 thousand rubles with an income of only 58 thousand.

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