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The maximum size of loans for vacations approved in Russia

The maximum size of loans for vacations approved in Russia
Photo: pixabay.com

Russian Prime Minister Mikhail Mishustin approved the maximum amount of loans for the provision of vacations. For consumer loans, it is 250 thousand rubles for individuals, 300 thousand for individual entrepreneurs, 100 thousand for loans to individuals with a credit limit.

As noted in decree government, to obtain a deferral of payment of a car loan, its amount should not exceed 600 thousand rubles. Mortgage vacations will be given if the loan amount does not exceed 1,5 million rubles. The same amount is approved for loans not related to business.

Vacation Law entered into force from April 3. It is designed for Russians whose income compared with the monthly average for 2019 decreased by more than 30%. Deferral of payments will be granted on loans received before the law comes into force.

Vacations will be given for up to six months. In this case, it will be necessary to provide documents confirming a decrease in income

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