Every second Russian has a bank loan, and every third debtor is forced to pay two loans, according to the results of a study by Raiffeisenbank obtained by TASS.
"Every second Russian has loans, while about 8% have already closed existing loans and have not yet increased their debt burden, the Raiffeisenbank survey shows. 46% of respondents serve one loan, every third has two loans. 20% of respondents currently have three or more loans, "the bank reported.
Normally, Russians take small loans. Thus, the total amount of liabilities for 40% of respondents does not exceed 100,000 rubles ($1,366), for another 38% this amount is up to 500,000 rubles ($6,830). At the same time, the majority of respondents have a consumer loan or credit card, and 33% pay a mortgage.
According to the survey, a consumer loan from a bank has been the most popular credit product for Russians over the past three months. Credit cards rank second, followed by cash loans and mortgages. Almost 40% of respondents want to take out a new loan in the next six months, and only 1% intend to apply for refinancing of their existing debt, APA reports citing TASS.
Most often, Russians take out a loan to buy a car, build or buy housing, as well as for repairs. Less often, borrowed money is planned to be spent on household appliances, education or medicine. Some respondents plan to take out a loan for business development, buy a dacha or go on vacation, according to Raiffeisenbank.
According to Dmitry Sivov, head of the consumer loans development department at Raiffeisenbank, the lending market is gradually "reviving" after the pandemic. In July, the issuance of consumer loans at Raiffeisenbank increased by 76% compared to a month earlier.
About 2,000 Russians over 18 years old from Moscow, St. Petersburg, Rostov-on-Don, Novosibirsk, Samara and other cities took part in the study of Raiffeisenbank.