Abstract: The research subject is the banks’ loan facilities for the population, which are the element of the social product of the country influencing the scale and dynamics of its economic growth. The study is aimed at specification of the system of rates which assess the influence of retail lending on the economic growth; detection of the content and the composition of factors determining this influence and the analysis of their development trends; elaboration of the directions of strengthening of retail lending positive impact on the scales and dynamics of the economic growth in Russia. To achieve the research task and guarantee the validity of the conclusions, the authors apply the abstract-logical, the subject-object, the analytical, and the comparative research methods. The authors assess the impact of retail lending on the economic growth in Russia based on the dynamics of consumer loans rates within the GDP for the period of 1998 – 2015, taking into account its growth rates and the character of the downturn in the development of Russian economy. The authors detect and systematically analyze the main factors of impact of consumer loans on the economic growth. The study substantiates the thesis that this impact is represented by the complex multifactor system in which the resultant feature is the size of GDP, the factors are the volume of loans, the level of loan arrears, the peculiarities of lending policy of banks, the macroeconomic situation, the monetary policy of the Central Bank, the loan consumers’ repayment ability, and the level of inflation. It is established that each factor is characterized by its own function and dynamics, and has multidirectional impact on the economic growth, which can both stimulate the economic growth, and restrain the production of social product. The authors describe the negative influence indicators. It is necessary to control these indicators and timely correct the reasons of negative tendencies in the impact of retail lending on social product, thus providing for the positive character of retail lending influence on the economic growth.