Even with tighter rules from the central bank and slower access to credit, a sharp pullback in demand for consumer and auto loans is unlikely. A leading comparison expert observed that, in any scenario, applying for a loan before year-end remains a sensible move.
He noted how, after the central bank raised its key rate, banks started to pass higher funding costs onto loan borrowers. That trend, he believes, is set to continue into next year.
“Expect ongoing limits on cash loans and stricter borrower requirements. If policymakers decide to ease monetary policy, it will not happen soon,” the expert explained.
According to him, average interest rates for consumer loans tend to sit in the high teens to mid-twenties annually. Still, even under these conditions, lenders will continue to offer loans for urgent needs or quality-of-life improvements in the near term.
“If the policy stance weakens and rates drop, refinancing a higher-interest loan could become attractive,” he added.
Recent remarks from the central bank chair suggested a potential rate rise could come in the spring, prompting cautious expectations among borrowers and lenders alike.
There were also discussions in government circles about new lending requirements for citizens, signaling ongoing scrutiny of credit access and consumer protections.