The conditions for changing interest rates on loans and deposits should be obvious to the client, so banks should write the possible values in the same font as the most favorable interest. This is stated in a joint information letter from the Bank of Russia and the Federal Antimonopoly Service (FAS).
The document was published on the website of the Central Bank. Experts pointed out that most often banks incorrectly inform citizens about the size of the rate, focusing on the minimum value in the case of a loan or the maximum in the case of a deposit.
At the same time, experts noted, customers are paying less attention to
- the size of the increased interest rate on the loan in case of non-compliance with the terms of the agreement;
- limited period of validity of the minimum rate on the loan;
- the need to purchase additional services to place a deposit at an attractive percentage;
- accrual of interest on the deposit at different rates at different times.
“These approaches to the disclosure of information about financial products can lead to unreasonable advantages over competitors and violations in the field of competition. Given the specific circumstances, these actions can be considered as a violation of the provisions of the Federal Law of July 26, 2006 No. 135-FZ “On Protection of Competition”, as well as basic standards,” the letter says.
To prevent such situations, the Central Bank and the FAS recommended that banks indicate on their websites in the same font without using any graphic techniques the value of the rate for the product, information about the conditions that may affect it, as well as the range of the total cost of the loan in percent per annum.
Meanwhile, Parlamentskaya Gazeta was investigating the grounds for exclusion of entrepreneurs from the open database of small and medium-sized businesses. This register has been maintained by the Federal Tax Service since 2016. Those included in it have a variety of preferences: preferential loans, guaranteed business support, a smaller number of inspections by control and supervisory authorities.
At the same time, entrepreneurs can be excluded from the database without notice. To solve this problem, Airat Farrakhov (United Russia), a member of the State Duma Committee on Budget and Taxes, sent requests with a proposal to inform businessmen about such a measure to the Federal Tax Service and the Ministry of Economic Development.
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