OREANDA-NEWS  Russian President Vladimir Putin has signed a law that will allow borrowers from March 1, 2025 to establish a self-ban on issuing consumer loans and loans. Loans secured by a vehicle and a mortgage, as well as education loan agreements provided under state support, do not fall under self-lock.

According to the law, Russians will be able to establish in their credit history a ban on loans from banks and loans from microfinance organizations. An individual can submit an application for the establishment of a ban or its lifting an unlimited number of times through the IFC (from September 1, 2025) or the Public Services portal. It is mandatory to have a TIN in order to receive the service.

Data on the established or lifted ban will be entered into the credit history during the day if the credit bureau received applications from an individual before 22:00 Moscow time, otherwise — the next day. The ban will take effect the next day after entering the data into the credit history, the lifting of the ban — on the second day after entering the data.