We analyzed the legislation and found that most Russians have nothing to worry about. But there are nuances.

What the law says

According to Russian regulations, banks do not have the right to unilaterally increase the interest rate on loans already issued. The only exceptions are cases provided for by federal legislation or an agreement with the borrower.

Here are the three most common situations:

• The rate increases as agreed with the client (for example, at the end of the grace period).
• Changes to the agreement are made by court decision due to serious violations on the part of the borrower.
• The client refuses the concluded mortgage loan insurance agreement (the rate in this case can be raised, but not higher than the maximum that was established at the time of conclusion of the agreement).

In all other cases, banks can only unilaterally reduce interest rates on loans .