In Russia, the repayment period for equipment and furniture loans has almost doubled in the last six months, reaching 21 months. The newspaper reports this with reference to the United Credit Bureau “News”.
According to available data, in January, POS loans, which were given without a direct visit to the store or the seller’s site, started to be given with an average maturity of 21 months. Last year this figure was one year. The average loan amount for goods and services in January was 72 thousand rubles, compared to 55 thousand a year ago.
According to experts, one of the main reasons for the increase in the average POS loan maturity is the increase in prices of goods and services. In addition, the increase in interest rates and the Central Bank’s macroprudential regulation policy aim to reduce the debt burden of the population.
These changes forced banks to take measures to prevent monthly payments from increasing. For this reason, financial institutions began to provide longer-term loans to their customers.
Before reportedHe said the economist predicted further declines in mortgage issuances to Russians.
Formerly Central Bank of the Russian Federation raised key rate up to 16%.