Over 12.5 million Russians admit guilt on loan applications
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In the five months since the self-restriction service on loans became available to Russians on March 1, 2025, the total number of applications has reached an impressive 13.76 million. This figure, according to the Credit Bureau "United Credit Bureau" (UCB), shows that a significant number of Russians are taking steps to manage their debt.
The majority of these applications (90.9%) are for a full ban on credit products, with just 1.6% for a full ban on MFO loans. Other restriction options account for 1.8% of total applications, while only 4.3% are for limiting online loans from banks and microfinance organizations.
Interestingly, the number of citizens who imposed self-restriction was slightly over 890,000 in July 2025, the lowest since the service's launch. This suggests that some individuals may be lifting their self-restrictions, with around 472,000 people having already done so. Last month alone, nearly 108 people lifted their self-restrictions.
Simultaneously, citizens submitted 730,000 applications to lift previously imposed restrictions, indicating a dynamic and ongoing process of self-regulation among Russians.
The usage of self-restriction on loans among Russians since its launch has been influenced by recent legislative and economic developments. For instance, Russia adopted measures affecting lending and loan repayment conditions for businesses, including credit holidays allowing deferral of principal payments. This, combined with a 43% drop in subsidies for SMEs and a 17% decline in the number of SMEs receiving aid, may have contributed to the increased use of self-restriction mechanisms.
However, precise detailed data on the number of applications, specific types of restrictions applied, and their changes over time since March 2025 is not readily available. As of now, approximately 196,000 applications have been submitted for a full ban on MFO loans, and around 220,000 applications have been submitted for a full ban on MFO loans and online banking. Additionally, nearly 588,000 applications have been submitted for limiting online loans from banks and microfinance organizations.
While the exact reasons behind these trends remain unclear, it is evident that self-restriction on loans has become a popular tool for Russians seeking to manage their debt in a volatile economic climate.
[1] Source: Russian Central Bank [3] Source: Sberbank
- Many Russians are focusing on managing their personal-finance by utilizing the loan self-restriction service, with an overwhelming majority applying for a full ban on credit products, as shown in the data from the Credit Bureau "United Credit Bureau" (UCB).
- The fluctuation in the number of self-restriction applications submitted by Russians indicates a growing interest in business-related financial planning, as they adapt to changes in lending and loan repayment conditions for businesses.
