Minfin Proposes Tripling Insurance Coverage for New Construction Buyers

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The Russian Ministry of Finance has proposed an initiative that will directly affect home buyers and depositors. The department has prepared a bill on a significant increase in insurance compensation for two main banking products.

One of them concerns escrow account insurance. The maximum amount that the state will return through the Deposit Insurance Agency will increase threefold - from 10 to 30 million rubles. This will allow the vast majority of real estate transactions, especially in large cities where prices are higher, to be fully insured.

Insurance coverage for ruble deposits of individuals with an irrevocable savings certificate for a term of 1-3 years will also increase. The limit will increase from 1.4 to 2 million rubles.

The bill is currently out for public discussion. If the initiative is approved, the new limits will come into effect in 2026.