Banks will help Russians save up for a mortgage
A bill on an irrevocable contribution should be submitted to the State Duma of Russia. Its initiators propose amendments to the Civil Code of the Russian Federation. The main essence of the changes is to allow the opening of irrevocable deposits in Russian banks.
Funds from such deposits will not be withdrawn in whole or in part until a certain period has passed. If a citizen can withdraw at least all the money from a deposit, only in this case he will lose interest, then he will not be able to withdraw money from an irrevocable deposit, in principle - of course, until the term for which the deposit has been opened expires.
What is the essence of the discovery of such contributions? The authors of the bill are convinced that the opening of irrevocable deposits, which allows banks to freely dispose of clients' funds for a certain period of time, will significantly reduce mortgage interest. The availability of mortgages today excites many Russians, especially young people. Indeed, compared with other developed countries, interest on mortgage loans in Russia is very high. The state is seeking opportunities for more favorable conditions for mortgage lending, however, they are not applicable in all situations. For example, young families receive preferential mortgages, but they must meet certain criteria.
The need for the adoption of the bill is explained by concern for solving the housing problems of young Russians. The authors of the bill believe that many young people cannot immediately pay a mortgage fee, but they are able to pay 20-30 thousand rubles a month for a special deposit in the bank in exchange for the fact that the bank will be ready to provide them with credit on favorable terms.
Irrevocable contributions are common in several countries in Western Europe. Their owners open such deposits for accumulation, collect a certain amount on them, then pay it as a down payment to the bank, which provides a mortgage on favorable terms. This is a kind of mutually beneficial cooperation between the bank and the client - the bank uses the client’s funds for some time without fear of losing them, and the client then receives a mortgage loan with very low interest rates.
Some experts make forecasts that if irrevocable deposits are allowed in Russia, then interest on a mortgage loan can fall very significantly. Of course, this is unlikely, because in the current economic situations when Russians have huge debts on loans, and the number of bank deposits is reduced, banks simply can not afford to so much reduce interest on payments. This is only possible if irrevocable deposits will be drawn up for very long periods of time - for example, for ten years. In addition, there is no doubt that irrevocable deposits concern only the relatively well-off part of Russians, since it is rare for any of the young people to give 30 thousand rubles a month, while also paying for a rented (since there is no own housing) apartment. However, as an irrevocable contribution, the authors of the bill plan to allow the use of maternity capital, which may slightly change the situation for young Russian families.
Funds from such deposits will not be withdrawn in whole or in part until a certain period has passed. If a citizen can withdraw at least all the money from a deposit, only in this case he will lose interest, then he will not be able to withdraw money from an irrevocable deposit, in principle - of course, until the term for which the deposit has been opened expires.
What is the essence of the discovery of such contributions? The authors of the bill are convinced that the opening of irrevocable deposits, which allows banks to freely dispose of clients' funds for a certain period of time, will significantly reduce mortgage interest. The availability of mortgages today excites many Russians, especially young people. Indeed, compared with other developed countries, interest on mortgage loans in Russia is very high. The state is seeking opportunities for more favorable conditions for mortgage lending, however, they are not applicable in all situations. For example, young families receive preferential mortgages, but they must meet certain criteria.
The need for the adoption of the bill is explained by concern for solving the housing problems of young Russians. The authors of the bill believe that many young people cannot immediately pay a mortgage fee, but they are able to pay 20-30 thousand rubles a month for a special deposit in the bank in exchange for the fact that the bank will be ready to provide them with credit on favorable terms.
Irrevocable contributions are common in several countries in Western Europe. Their owners open such deposits for accumulation, collect a certain amount on them, then pay it as a down payment to the bank, which provides a mortgage on favorable terms. This is a kind of mutually beneficial cooperation between the bank and the client - the bank uses the client’s funds for some time without fear of losing them, and the client then receives a mortgage loan with very low interest rates.
Some experts make forecasts that if irrevocable deposits are allowed in Russia, then interest on a mortgage loan can fall very significantly. Of course, this is unlikely, because in the current economic situations when Russians have huge debts on loans, and the number of bank deposits is reduced, banks simply can not afford to so much reduce interest on payments. This is only possible if irrevocable deposits will be drawn up for very long periods of time - for example, for ten years. In addition, there is no doubt that irrevocable deposits concern only the relatively well-off part of Russians, since it is rare for any of the young people to give 30 thousand rubles a month, while also paying for a rented (since there is no own housing) apartment. However, as an irrevocable contribution, the authors of the bill plan to allow the use of maternity capital, which may slightly change the situation for young Russian families.
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