Russia ties family mortgage rates to the number of children. In Moscow, the rate for one-child families doubles to 12% on October 1.

Russia has revamped its "Family Mortgage" program, linking mortgage interest rates to the number of children in a family and their location within the country. As of October 1, the rate for one-child families in Moscow, St. Petersburg, and the surrounding regions will double to 12%, whereas families with five or more children will enjoy a rate as low as 4%.

In these areas, families can borrow up to 12 million rubles for one-child families at the new rate, and up to 18 million rubles for families with five or more children. Meanwhile, outside these metropolitan areas, the rate for one-child families will remain at 10%, with a loan limit of 6 million rubles, while families with five or more children can borrow up to 10 million rubles at a rate of 2%.

The Finance Ministry claims this adjustment aims to better align the program with demographic goals. Previously, the program offered a uniform 6% rate with a 12 million ruble limit in key cities and a 6 million ruble cap elsewhere, with borrowers required to make a 20% down payment. The initiative was introduced in 2018, and there have been recent discussions about modifying the program's terms.