This law does not apply to loans related to the purchase, construction, or completion of residential real estate unless provided for in its provisions. It establishes the rules for providing consumer loans, the terms of their contracts, the procedure for calculating and applying the borrower's debt burden indicator, as well as the conditions for amending and terminating contracts, the rights and obligations of the parties, methods for resolving disputes, and protecting borrowers' rights.
If the borrower's debt burden indicator exceeds 60%, the lender is required to notify them in advance about the risks associated with potential non-fulfillment of obligations and the possible consequences, by signing the notification.
Additionally, the law limits the nominal interest rate on consumer loans, which should not exceed 0.08% per day, based on the terms of the agreement.
