The analyst spoke about the cooling-off period for loans

Starting from September 1, new rules will come into force in Russia, introducing a mandatory cooling-off period for borrowers. This is the time period during which you can easily cancel an already approved loan. This measure is designed to increase the security of citizens in the credit market, Alexey Lossan, an analyst at the financial marketplace Compare, told Izvestia on September 1.

The duration of this period depends on the loan amount. For loans from 50 to 200 thousand rubles, it will be at least four hours. If the requested amount exceeds 200 thousand rubles, the time limit for reflection increases to 48 hours.

"It is important to emphasize that the cooling—off period is not just a technical delay, but a fundamental measure aimed at improving the safety of borrowers. Its main goal is to protect people from impulsive decisions and fraudulent schemes," he said.

According to him, scammers often use emotional pressure, demanding urgent loan processing under various pretexts. This innovation will give borrowers the opportunity to think about their actions soberly and reduce the risk of hasty decisions leading to financial losses.

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At the same time, the analyst drew attention to a number of important exceptions. Thus, the cooling-off period will not apply to loans of less than 50 thousand rubles, as well as to mortgage loans. Targeted loans are also exempt from this rule: car loans when transferring funds to a dealer and educational loans when paying directly to an educational institution.

In addition, an exception is made for loans with guarantors or co-borrowers and for refinancing, if it does not increase the total amount of debt.

On August 30, Chairman of the State Duma Vyacheslav Volodin announced a number of draft laws that will enter into force in September 2025. He clarified that from the beginning of autumn, a set of measures aimed at combating fraudsters will be launched, including the so—called "cooling-off periods" when issuing loans. No financial transactions will be carried out during these transfers; the ability to appoint authorized persons to confirm transfers from accounts and receive cash.