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The full cost of the loan will include all additional services

The full cost of the loan will include all additional services
Photo: pixabay.ru
In Russia, they want to make information on consumer loans more transparent. Banks may be obliged to indicate in the full cost of the loan all additional services, be it insurance, legal advice or additional fees.

As reported "News", the corresponding bill is being developed with the participation of the Central Bank. According to the initiators, it will contribute not only to better informed citizens, but may also put pressure on the capital of banks. 

Since 2008, banks have been obliged to communicate to customers information on all costs of the loan before the conclusion of the contract. However, this did not become a 100% solution to the problem. Often, lenders offer to pay for services that are not in the loan agreement from borrowed funds and borrowers do not fully understand the size of future financial obligations.

In addition, banks often charge fees, for example, for depositing or withdrawing funds through the cashier, which is now obligated to be included in the full cost of the loan. True, according to some experts, lenders will seek to compensate for the loss of additional income and may raise interest rates on loans. 

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