Zaim V7a loan without traps: a borrower's reference

An independent reference on consumer loans. We neither issue nor match loans and do not work with lenders; we are not connected with the former site on this domain. This is not legal or financial advice.

Glossary

Glossary

A loan contract is written in language you rarely hear in everyday life. Here are the key terms with short explanations, so that when reading the terms you understand what is meant and can ask the lender a precise question.

An unclear word in a contract is no small matter. Often it hides a payment you did not know about.

— Editor's note

The definitions are simplified and based on the Russian consumer credit law. They help you find your way around the documents but do not replace the text of the law or a lawyer's advice.

Loan and lender

Consumer loan
Money that an organization lends to an individual for personal needs not related to business. The rules for such loans are set by Law No. 353-FZ.
MFO
Microfinance organization — a company that issues loans, usually small and short-term. Information about it must appear in the state register kept by the Bank of Russia.
Debt collector
An organization that recovers overdue debts on behalf of the lender or after buying the debt. Its actions are restricted by law: threats and pressure are not allowed.

Terms and cost

TCC (total cost of credit)
An indicator that includes interest and mandatory payments under the contract. It is shown in a square box in the top right corner of the first page of the contract.
Individual terms
The part of the contract that sets out the parameters of your loan: amount, term, interest rate, payment procedure and size, and liability for late payment.
Payment schedule
The timetable by which you repay the debt: dates, amounts and a breakdown of each payment into interest and principal.
Penalty
A fine or late fee for breaching the contract terms, most often for a late payment. Its amount is stated in the individual terms, so read this clause before signing.

Repayment and protection

Missed payment
A situation where a payment has not been made by the date in the schedule. From that point a penalty usually starts to accrue, and the information may end up in your credit history.
Restructuring
A change to the repayment terms agreed with the lender: for example, extending the term or temporarily reducing the payment. The lender is free either to agree or to refuse.
Early repayment
Repaying a loan ahead of schedule, in full or in part. Within 14 calendar days of receiving it, a loan can be repaid without notifying the lender, with interest only for the actual period.
Credit history
Information about your loans and how you repay them. It is kept by credit bureaus; checking it helps you spot in time a contract someone else took out in your name.
Self-ban
A flag that a citizen sets themselves so that they are not issued consumer credits and loans. Available since March 1, 2025, via the public services portal or at a multifunctional center.
  • Basics

    How a consumer loan works, what makes up the overpayment, who may issue loans, and what rights the law gives a borrower.

  • Documents

    Individual and general terms, the payment schedule, the add-on services application and the debt closure certificate: why each document matters.

  • FAQ

    Short answers about the cost of a loan, missed payments and debt, fraudsters, and protection against loans taken out in your name.

  • Guides

    Step-by-step guides: how to read a contract, how to check a lender, what to do about a missed payment and how to set a self-ban on new loans.

Sources

  • Federal Law No. 353-FZ of 21 December 2013 “On Consumer Credit (Loans)”
  • Bank of Russia directory of financial market participants (general terms)

This reference summarizes Russia's Federal Law No. 353-FZ “On Consumer Credit (Loans)” and public materials from the Bank of Russia. The law is amended from time to time, so before signing, check the version currently in force and the text of your own contract, and in a dispute, talk to a lawyer.