Microfinance institutions found a scheme that allows to increase the total value of loans for borrowers, despite the limitations of the Bank of Russia, reports “Kommersant”.
According to the newspaper, to the borrower offer a loan for the purchase of goods loan in cash, the interest on which may be several times more. De facto, the product is a POS loan, so how to get him the money in cash is not only a commodity, but the contract is silent on this matter. It is decorated in the form of a loan in cash, which the client automatically transfers the point of sale for the goods. This was told to customers who apply for loans to buy phones for a company that is focused on work with labor migrants from Uzbekistan, Tajikistan and Kyrgyzstan (in the registry of the Central Bank, the IFC ISC). From 1 July 2014, the full cost of credit (PSK) may not exceed the size limit set by the Central Bank. On POS-loans — 41.3 per cent per annum, and cash loans is 365 percent.
In turn Director of the aforementioned company for the provision of lending services as Atamirzaev said that the new product organization is positioned as POS-loan. Rates on such loans is 0.5 percent per day, or 180,5% per annum, the amount to 15 000 rubles for a period of 3 months. However, as writes the edition, in check to get the customer the goods provided that the source of payment subsequent payment (credit), in other words, the loan is directly connected with the purchase.
the Bank of Russia said that the regulator pays special attention to the sale of financial products organizations, in accordance with legal limitations proper to inform consumers about the conditions of relevant products and services to prevent misselling (imposing, but people need options when selling of goods and services) and the introduction of citizens in error. The Central Bank drew the attention of the consumers that before signing the contract, you need to carefully study it. From the point of view of the interviewed lawyers to challenge such a Treaty extremely difficult. In General the activities of microfinance organizations in this situation it is problematic to call it illegal, rather, they just need to “pack” your product, and the main weapon of the client in this case is mindfulness, they explained. However, such actions can also be classified as a violation of the law “On protection of consumer rights”, because, in fact, is the introduction of the buyer to deceive. According to lawyers, this is not a direct violation of the law, however, it is exactly the abuse.
As explained by the publication of market participants is not the onlytion company that uses such a scheme, there are other microfinance organizations, have taken it on Board.
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