Despite the restrictions imposed by the Central Bank of the Russian Federation and the decrease in credit availability, a sharp decline in demand for consumer, vehicle loans and similar products should not be expected. Comparison expert Maxim Glazkov said that, given any scenario, it makes sense to apply for a loan before the end of this year. RT.
He noted that after the Central Bank of Russia increased the interest rate to 16% annually in December, banks began to recover the increase in the cost of money by increasing loan interest rates. The expert is confident that the same will continue in 2024.
“Limits on cash loans and other requirements for borrowers will continue to be tightened. If the regulator plans to ease monetary policy, this will not happen in the near future,” Glazkov said.
According to him, the average interest rates for consumer loans in Russia are around 22-24% per year. However, the expert advises that even under these conditions, you should not completely stop giving loans in 2024, especially if the loan will help solve an urgent problem or simply improve the quality of life.
“And if the state’s monetary policy softens and, as a result, interest rates fall, it will be possible to refinance a previously taken loan at a high interest rate,” Glazkov added.
Recently the head of the Central Bank of Russia, Elvira Nabiullina statedHe said the regulator should start raising the key interest rate in the spring of this year.
Formerly in the State Duma said about a new requirement for Russians when issuing loans.