Published on: 2026-10-09
Source: Central Bank of Russia – Central Bank of Russia –
An important disclaimer is at the bottom of this article.
Starting from October 1, loans under the “Family Mortgage” program can still be provided for a long term; however, the period of government interest rate subsidy is now limited to 15 years, the Bank of Russia reminded. in the information letter.
According to the program rules, the interest rate on a loan for a period exceeding 15 years may be increased by no more than 4 percentage points, but not higher than the key rate at that time plus 3 percentage points (for loans to pay for construction work on individual residential houses – plus 3.5 percentage points).
At the same time, banks must form the payment schedule based on the fact that the loan interest rate will be increased by 4 percentage points after the grace period, unless a lower value is stipulated in the contract. At the same time, banks are recommended to inform borrowers that the payment amount for the loan period after 15 years may change depending on the key rate.
It is also recommended to calculate the borrower’s debt burden ratio and the total cost of credit for the loan period after 15 years taking into account an interest rate increased by 4 percentage points, unless a lower value is specified in the contract. This will help limit the risks for banks and borrowers while supporting the possibility of obtaining loans for a term exceeding 15 years under the family mortgage program.
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Please note; This information is raw content obtained directly from the information source. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.