Microloan law - the law and MFOs, what the borrower needs to know about his rights. The RF Armed Forces against MFOs: how much should you pay for an overdue microloan? Maximum amount of debt on microloans

Since January 1, 2017, a new law on microloans has been in force, which has significantly changed the operating mechanism of these organizations.

Requirements for microfinance organizations have become significantly more stringent. The interest rate and loan term are now regulated.

Thus, before issuing loans, companies are now required to conduct a more serious check of borrowers and issue loans of no more than a certain amount at a fixed interest rate.

From January 1, 2017, the following restrictions came into effect:

• MFOs do not have the right to charge a client interest for using money after their amount reaches three times the amount of the principal debt. It is worth understanding that we are talking about percentages only. Penalties in the form of penalties and fines for late payment will be accrued based on the terms of the agreement;
• When the loan is overdue, fines are charged solely on the principal amount of the debt. The accrual of fines should stop when the principal amount of the debt is doubled;
• this information should be placed on the first page of the agreement with the borrower.

However, that's not all. The Central Bank of the Russian Federation also tightened its requirements for microfinance organizations in the summer of 2017. Thus, reporting requirements have increased.

From 2019, rules come into force according to which one borrower cannot receive more than 9 microloans during the year.

You can use the extension no more than 5 times a year. In the future, the number of possible requests to these organizations is planned to be reduced to 5, and the number of extensions to 3.

The Law on Microloans provides for the possibility of considering a claim from a client within 30 days, but new requirements of the Central Bank of the Russian Federation have reduced this period by 2 times.

Interest on microloans with calculation examples

Today, the maximum interest on a microloan is legally regulated at the legislative level and amounts to 800% per annum. The law significantly reduced the capabilities of financial and credit organizations and protected the interests of borrowers.

The interest rate on a microloan cannot be more than three times the amount of the principal debt.

So, if a client applied for 2 thousand rubles to an MFO, he will need to return 6 thousand rubles in the form of interest and 2 thousand rubles of the principal debt itself.

Information about this must be on the first page of the contract. It comes immediately after the names of the parties.

If the borrower falls into arrears, when the borrower has issued 4 thousand rubles and has not paid anything, he may be required to pay no more than 8 thousand rubles in penalties and 4 thousand rubles in the body of the debt.

However, this rule came into force on January 1, 2017. If the borrower's contract was executed earlier than this date and is due to delay or multiple extensions, he cannot comply with the new requirements.⁠

When will microloans close?

This is a very profitable sector of the economy, which provides large revenues to the federal budget. Therefore, one should not hope for the speedy closure of MFOs in Russia.

The main thing is to understand how these organizations work in practice in order to use them to your advantage.

Additional requirements for microfinance organizations

The state began to pursue a strict policy regarding these companies, requiring them to significantly increase the reserve for overdue loans.

Now microfinance organizations, along with banks, must reserve 100% of the debt amount when a client falls into arrears.

This guarantees the financial stability of the organization and the exit from the market of companies that cannot provide stable operation within the framework of current laws. The presence of large lenders in the market ensures healthy competition and a natural reduction in rates for customers.

Thus, the new law helps protect borrowers from high interest rates and regulates the procedure for repaying the debt according to the schedule and in case of default.

Microfinance organizations (MFOs) have limited the accrual of interest on microloans.

Limitation of interest on microloans

On January 1, 2017, Articles 12 and 12.1 of the Federal Law “On Microfinance Activities and Microfinance Organizations” dated July 2, 2010 N 151-FZ came into force, which introduces a ban on Microfinance Organizations (MFOs) charging borrowers unreasonably high interest rates on consumer microloans. What is the reason for limiting interest on microloans? The reason is as simple as the world - microfinance organizations (MFOs), in an effort to obtain excess income, issue microloans instantly and with virtually no verification of the client’s solvency.
Microloan- this is a small loan that is provided for a short period of time, and, as a rule, without confirmation and verification of the borrower’s solvency.

In Article 2 of Federal Law No. 151-FZ dated July 2, 2010, the concept of “microloan” is described as follows:

3) microloan - a loan provided by the lender to the borrower on the terms stipulated by the loan agreement, in an amount not exceeding the maximum amount of the borrower's obligations to the lender on the principal debt established by this Federal Law;

Federal Law No. 151 of July 2, 2010 There are two types of restrictions on the accrual of interest by Microfinance Organizations (MFOs) on issued consumer microloans, namely:

1. Three-fold limitation on the accrual of interest under a consumer microloan agreement.
2. Stopping the accrual of interest on overdue loans as soon as the interest reaches twice the amount of the outstanding portion of the debt.

The Bank of Russia explains the essence of the restrictions introduced by Federal Law No. 151, which boils down to the following:

1. From January 1, 2017, a three-fold limitation on the accrual of interest under a consumer microloan agreement entered into from this date comes into force.

If the repayment period under the agreement does not exceed one year, microfinance organizations (MFOs) do not have the right to charge interest to the individual borrower after the amount reaches three times the loan amount.

So, for example, with a loan of 5,000 rubles, the borrower’s debt at no point in time can exceed 20,000 rubles. This amount includes:

• loan amount of 5,000 rubles
• accrued interest in the amount of 15,000 rubles (5,000 rubles x 3).

The Bank of Russia draws the attention of borrowers to the fact that the limitation established on the amount of interest does not apply by law to penalties (fines, penalties), as well as to payments for services provided to it for a fee.

This is how it is stated in Federal Law No. 151-FZ dated 07/02/2010 (as amended on 07/03/2016) “On microfinance activities and microfinance organizations” (as amended and supplemented, entered into force on 01/01/2017) :

Article 12. Restrictions on the activities of a microfinance organization (as amended by Federal Law dated December 29, 2015 N 407-FZ)
1. A microfinance organization has no right:
9) accrue interest to an individual borrower under a consumer loan agreement, the repayment period of the consumer loan for which does not exceed one year, with the exception of penalties (fines, penalties) and payments for services provided to the borrower for a fee, if the amount accrued interest agreement will reach three times the loan amount. The condition containing this prohibition must be indicated by the microfinance organization on the first page of the consumer loan agreement, the repayment period of the consumer loan for which does not exceed one year, before the table containing the individual terms of the consumer loan agreement; (as amended by Federal Law No. 230-FZ dated July 3, 2016)

In this case, the MFO will be able to start accruing interest again only after the borrower has partially repaid the loan and (or) paid the interest due.

Penalties (fines, penalties) should be charged only on the portion of the principal debt not repaid by the borrower.

So, for example, if the outstanding portion under an overdue agreement is 5,000 rubles, the amount charged from the borrower will be equal to 15,000 rubles, which includes the amount of overdue debt - 5,000 rubles and accrued interest - 10,000 rubles (5,000 rubles x2).

Each MFO is required to place information about these restrictions on the first page of a short-term consumer loan agreement before the table with the individual terms of the agreement.

Federal Law No. 151-FZ dated July 2, 2010 “On microfinance activities and microfinance organizations” (as amended and supplemented) speaks about this restriction as follows:

Article 12.1. Peculiarities of calculating interest and other payments in case of delay in fulfilling loan obligations (introduced by Federal Law dated July 3, 2016 N 230-FZ)
1. After a delay in fulfilling the obligation of a borrower - an individual to repay the loan amount and (or) pay interest due, a microfinance organization under a consumer loan agreement, the repayment period of the consumer loan for which does not exceed one year, has the right to continue to accrue interest to the borrower - an individual only on the part of the principal debt that has not been repaid by him. Interest on the portion of the principal debt not repaid by the borrower continues to accrue until the total amount interest payable in an amount equal to twice the amount of the outstanding portion of the loan. A microfinance organization does not have the right to accrue interest for the period of time from the moment the total amount of interest payable reaches an amount equal to twice the amount of the outstanding part of the loan until the borrower partially repays the loan amount and (or) pays the due interest.

2. After there is a delay in fulfilling the obligation of the borrower - an individual to repay the loan amount and (or) pay the due interest, the microfinance organization under a consumer loan agreement, the repayment period of the consumer loan for which does not exceed one year, has the right to charge the borrower - an individual a penalty (fines, penalties) and other measures of liability only for the portion of the principal amount not repaid by the borrower.

3. The conditions specified in parts 1 and 2 of this article must be indicated by the microfinance organization on the first page of the consumer loan agreement, the repayment period of which does not exceed one year, before the table containing the individual terms of the consumer loan agreement.

• Message from the Bank of Russia dated January 1, 2017 - “The accrual of interest on short-term microloans is limited”
• Federal Law of July 2, 2010 N 151-FZ “On microfinance activities and microfinance organizations” (as amended and supplemented)
• Federal Law of July 3, 2016 N 230-FZ “On the protection of the rights and legitimate interests of individuals when carrying out activities to repay overdue debts and on amendments to the Federal Law “On MICROFINANCE ACTIVITIES AND MICROFINANCE ORGANIZATIONS””

The activities of MFOs are regulated by Federal Law 151, which establishes the size, procedure and conditions for granting loans. A microfinance organization has the status of a legal entity, accordingly it must be entered in the state register, and can carry out microfinance activities in the form of a microcredit or microfinance company.

Based on this Federal Law on MFOs, the Bank of Russia enters information about a legal entity into the state register of microfinance organizations, refuses to enter information or excludes it from the register. The information is open and publicly available. So, if you are interested in a specific company, you can find information about it on the official website of the Central Bank of Russia.

In general, microfinance organizations have the right to provide loans in an amount of no more than 1 million rubles. with a maximum return period of no more than 1 year. Interest is most often calculated at a daily rate, which averages 2 – 2.5%/day. In annual equivalent this amounts to 730 – 912.5%.

Interest rates on short-term microloans are always huge. However, many clients choose such financial products because of the simplicity and speed of completing a transaction and receiving funds. MFOs, unlike banks, do not require packages of documents, all kinds of certificates of income and place of work - most often a passport is enough.

It is also important that the borrower can take a small amount, ranging from 1,000 – 3,000 rubles, depending on the conditions in a particular company. Banks do not provide such small loans. The maximum microcredit term is 1 year, but most organizations usually limit it to 1 month (30 days).

It makes sense to take out a microloan when you really need money very urgently for a short period of time - and you are sure that you will be able to return it on the due date. Otherwise, high interest, fines and late fees can lead to endless debts when you pay a renewal fee or are charged fines, but the amount of the principal debt will not decrease.

Regulation of MFO activities

Let's consider the main conditions for providing microloans in accordance with the Federal Law on MFOs:

1. Companies provide loans in Russian currency on the basis of a microloan agreement.
2. The microfinance organization specifies the terms of the loan in the microloan rules, which are approved by the company’s management body.
3. The rules for granting a loan are publicly available for review. It should contain the following information: the procedure for submitting and considering an application, the procedure for concluding an agreement and providing a payment schedule, additional conditions that are established by the organization and are not terms of the loan agreement.
4. The agreement may provide for the issuance of a targeted microloan, which implies control over the use of funds and imposing on the borrower the obligation to ensure such control.
5. The rules cannot establish the rights and obligations of the parties under a microloan agreement. If the provision rules contain conditions that contradict the agreement, the terms of the agreement concluded with the borrower apply.

Always carefully study the documentation posted in the public domain, carefully read the general and individual conditions, and if you do not understand something, ask questions to the company’s manager/consultant.

In addition, according to some amendments to another law on microfinance organizations, for the illegal use of the phrase microfinance organization, a fine for legal entities may be 100,000–300,000 rubles, for failure to provide the rules for review – 50,000–100,000 rubles.

Responsibilities of a microfinance company

According to Federal Law 151 on MFOs, the company has the following obligations to a potential borrower:

• post the rules for providing microloans in a place accessible for viewing, as well as on the Internet;
• disclose information about persons influencing decision-making by the management bodies of a microfinance company;
• inform the potential client whether the organization is included in the state register, and, upon his request, provide a copy of the relevant document (usually a certificate of the microfinance organization);
• provide complete and reliable information about the terms of the loan to the person who submitted the application, including the rights and obligations associated with receiving a microloan;
• when submitting an application, before signing the agreement and receiving the loan, inform about the conditions, possible changes at the initiative of the parties, payments related to the receipt, servicing, repayment of the loan and violation of obligations;
• guarantee the secrecy of transactions carried out by MFO borrowers;
• comply with economic standards in accordance with the law on MFOs 2017 and regulations Bank of Russia;
• perform other duties in accordance with legislation, legal norms and acts of the Central Bank of the Russian Federation, constituent documentation and the terms of concluded agreements.

Before signing an agreement at the application stage, we recommend that you study the rules, additional loan agreements, the payment schedule - and ask questions if there are nuances that you do not understand. Remember, employees of a microfinance organization are required to provide complete, reliable information before concluding a transaction.

Features of calculating interest in case of delay

In 2016, the law was revised to determine how many microfinance organizations can charge maximum interest on the amount of an outstanding microloan. The interest limit has changed from four times the principal amount to three times.

Thus, on January 1, 2017, the law on microfinance organizations came into force, according to which microfinance organizations have the right to charge interest until the amount of the principal debt reaches three times. In this case, the company can charge a commission only on the outstanding part of the loan.

So, how is debt calculated in case of late payment:

1. The accrued interest should not exceed twice the amount of the outstanding debt. From the moment the interest debt reaches double the principal amount of the debt, the organization has no right to continue accruing interest. But from the moment of partial repayment of the principal debt or payment of interest, the accrual of commission can be resumed.
2. If there is a delay in payment, the organization also has the right to apply penalties with the accrual of additional fees for the borrower’s failure to fulfill its obligations.

To understand the calculations, let’s take a debt (microloan or part of a microloan) of 10,000 rubles. - this is the amount of the principal debt; interest on it cannot be more than 20,000 rubles. (twice the amount of debt with interest). As a result, the total debt is 30,000 rubles. (three times the principal amount).

The information specified in paragraphs 1 and 2 must be indicated on the first page of the loan agreement with a repayment period of no more than 1 year - before the table indicating the individual conditions for the provision of a microloan.

Due to the above circumstances, many microfinance companies sell debts with overdue payments exceeding 90 days to collectors and agencies or write them off. This happens because it is unprofitable to continue accruing interest, since organizations pay taxes based on accrued interest, and not on actual profits - due to debts with such a period of arrears, profits are significantly reduced.

The best microloan offers

Supreme Court Russian Federation supported the borrower’s position and significantly reduced the amount of his debt under the microloan agreement (). Moreover, the logic of the Court in calculating the interest to be paid differs significantly from the approaches that previous courts applied in this case. Let's take a closer look at it.

A microfinance organization (MFO) and citizen K. entered into an agreement, according to which K. received a loan in the amount of 10 thousand rubles. with a return period of July 11, 2014 at 730% per annum.

Since a citizen cash did not return, the MFO applied to the court to collect the principal and interest, but only on October 21, 2015, demanding interest for the use of the loan for the period from July 12, 2014 to October 21, 2015, that is, for 467 days. Thus, according to the MFO, the citizen had to pay an amount more than 10 times the loan, namely 108.5 thousand rubles.

In the court of first instance, the company's claims were only partially satisfied, and it received 28.7 thousand rubles, including interest. Let us recall that the courts have the right to reduce the penalty payable if it is clearly disproportionate to the consequences of violation of the obligation (). The court of first instance considered that it could exercise this right and reduce the interest rate for using the loan, calculated taking into account 730% per annum, that is, 2% of the loan amount for each day of delay, from 93.4 thousand to 15 thousand rubles.

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But at the appeal stage, the amount to be paid was significantly increased - taking into account the state duty, it amounted to 107.1 thousand rubles. for 467 days of using the loan. The appellate court pointed out that such interest is not a penalty, that is, a measure of liability for violation of the obligation to repay the loan amount (). This means, he determined, in the previous instance it was impossible to reduce the amount of claims on the basis of .

K. filed a cassation appeal, considering the appeal ruling illegal. The Supreme Court of the Russian Federation took his side, but at the same time, interestingly, did not agree with the reasoning of the trial court.

The RF Armed Forces determined that in in this case really cannot be applied, since the interest under the loan agreement provided for is a fee for the use of funds and cannot be reduced by the court. But in this case, according to the Court, it was necessary to take into account another norm and proceed from other principles. He pointed out that the court is obliged to evaluate the terms of a particular contract from the point of view of their reasonableness and fairness. That is, in such a situation, it is necessary to maintain a balance of interests of the parties - to take into account that the terms of the contract are not clearly burdensome for the borrower, but at the same time take into account the position of the creditor, since he is the party whose rights are violated by the failure to fulfill the obligation.

Moving from general principles In a special case, the Supreme Court of the Russian Federation decided that the accrual of interest for such a long period - 467 days - cannot be considered legal, since they were established by the agreement only for a period of 15 calendar days. The court explained that this approach contradicts the essence of the legislative regulation of microloan agreements, since it actually indicates the open-ended nature of the borrower’s obligations and the absence of any restrictions on the amount of interest for using the loan.

Please note that currently MFOs do not have the right to charge a borrower who is an individual, interest and other payments if, taking into account already accrued interest and payments, the debt reaches three times the loan amount. This provision, which is important, applies to cases where the loan repayment period does not exceed one year, and it came into force only on January 1, 2017 (clause 9, part 1, article 12 of the Federal Law of July 2, 2010 No. 151-FZ " ").

True, in its ruling, the RF Supreme Court referred to the previous version of the law, according to which the debt cannot reach four times the loan amount. Despite the fact that neither version of the provision was in force at the time of concluding the microloan agreement dated June 27, 2014, the Court considered it necessary to reduce the amount of debt.

OPINION

Artyom Karapetov, director of the M-Logos Law Institute, professor High school Economy under the Government of the Russian Federation, Doctor of Economics n.

“Recently, there have been several rulings of the Judicial Collegium in civil cases, which calmly accepted the accrual of interest on microloans in the amount of more than 500% per annum. But in this new case, the RF Armed Forces came up with an interesting method of limiting high interest rates. It decided to use such old agreements for this purpose. "antibiotic" in the form of a complete refusal to apply to such consumer loans general rules and about a loan, according to which the interest on the loan established in the agreement flows until the debt is fully repaid and during the period of delay, too. Apparently, this approach should, in the opinion of the RF Supreme Court, be applied to all consumer microloan agreements concluded before the entry into force of amendments to the law on microfinance organizations establishing an interest ceiling. In my opinion, this is clearly a disproportionate reaction. I wonder if the Court is prepared to apply the same approach to treaties consumer loan and to regular loan agreements between consumers?

The calculation of the RF Armed Forces boils down to the following. By decision of the court of first instance, the citizen was charged interest for using the loan for 15 days, when the rate of 730% per annum was taken into account (for the period from July 12, 2014 to July 26, 2014). But for the next period before the date the MFO goes to court, that is, from July 27, 2014 to October 21, 2015 (452 ​​days), interest on the loan is subject to collection based on the weighted average calculated by the Bank of Russia interest rate 17.53% per annum. It's about on the rate on loans provided to individuals in rubles for a period of more than one year, as of June 2014. Thus, a citizen only needs to pay 2,170 rubles to the microfinance organization. and a state duty in proportion to the size of the satisfied claims in the amount of 400 rubles.

Based on this conclusion, the RF Supreme Court adopted a new decision in the case, partially canceling the appeal ruling.

Such a relatively new business in Russia as microcredit is considered by many to be something existing in itself and not subject to any legislative regulation. However, in the few years that have passed since the first microloan was issued, not only the number of organizations offering money for short-term loans has increased, but also the number of laws regulating their activities. Of course, for those who plan to take out microloans, it is advisable to study the legislation on this matter in full and in detail, so that later there are no problems. unpleasant surprises. Moreover, people who are completely ignorant of jurisprudence would benefit from consulting an experienced lawyer, but you can still try to familiarize yourself with the main points on your own.

Who regulates the activities of MFOs?

Microfinance organizations, namely they are engaged in issuing small amounts for short periods of time upon provision of a minimum package of documents, are registered in the unified register of the Central Bank of Russia. Of course, if they work legally, but it is better not to contact others, no matter what attractive conditions they put forward.

The Civil Code and Federal Laws are the truths that every MFO must adhere to in its work. One of the clauses of the Law states that an organization working with microloans is obliged to regularly report on its activities to the Central Bank, and in addition, any of them can be checked at any time and without warning by supervisory authorities (Prosecutor's Office, Tax Services, etc.) .

The essence of the Federal Law on microcredit

The Law on Microloans contains a huge amount of information, clarifications and additions, which, moreover, are regularly amended. As of today, the Law, as amended on March 29, 2016, is in force, stating:

• For legal entities, as well as those who are registered as entrepreneurs, it is now possible to receive not one, but three million rubles as a microloan, while for ordinary citizens the amount has not been changed ();
• A distinction has been introduced between microfinance and microcredit organizations: the former can attract funds from any citizen of the Russian Federation for deposits, the latter - exclusively belonging to their founders;
• Without registration in the State Register of MFOs of the Central Bank of the Russian Federation, it is prohibited to work in the field of microcredit;
• If the rules for submitting reports are violated or are unreliable, the Bank of Russia has the right to exclude the MFO from the state register.

What does an MFO have no legal basis for?

The new law on microloans cares even more about consumers and their protection, so it clearly stipulates what no microfinance or microcredit organization has the right to do:

1) Change the interest rate at your own discretion without the consent of the borrower.

2) Penalize the borrower for early repayment of the loan if he notified of his intention to do so no later than 10 days before making the payment itself.

3) Conduct microfinance in any currency other than the Russian ruble.

4) Simultaneously with microfinance, conduct trade or production activities.

Interest rate regulation

Both the Laws and the amendments to them pay great attention to the amount of interest that an MFO has the right to charge for a loan issued. Perhaps, if the new Law on Microloans 2017 comes out, other conditions will be stipulated there, but today they are as follows:

• Interest on microloans for short periods must be specified in the contract, and their amount should be indicated for the year, regardless of the period for which they are issued;
• All options for changing the interest rate on a microloan are legal only if they are written down and the consumer is familiar with them and agrees;
• Interest on the amount borrowed should not exceed the principal debt by more than four times, regardless of the period for which the money was issued.

Amendments to the law in 2017 on consumer microloans

Under microloan agreements that were concluded from January 1, 2017, microfinance organizations do not have the right to charge interest after reaching 3 times the loan amount. But all additional services of MFOs, as well as fines and penalties, are not included in this limitation. Interest is charged only on the remaining outstanding amount of the debt. The accrual of interest stops when a threshold of 2 times this amount (part of the debt) is reached.