Express credits in Russia. What situation?


Still recently the necessary goods in shops allowed the population to get at once the express credit. Certainly, such credits are convenient, but real position of the credit rate became a fly in the ointment.

To catch the client, banks went on artful advertising in which the percent on credit payment could decrease to 1 %, thus, actually left an order of 10-15 %. 15 percent Whence could undertake?

The matter is that express credits stand out operatively, and about the consumer the minimum the information gathers, at such state of affairs, the considerable quantity of consumers will not return credits and what to extinguish not returned sums, the bank winds the big percent on express credits, than provides to itself also a high profit level.

However since July, 1st, 2007 the Central bank of the Russian Federation has ordered to banks to give the full information under credits given to the population. In this case the bank should specify full cost of the credit taking into account all payments. In that case frauds will hide difficultly though from a legal side, all was lawful and to the instruction, simply banks bribed consumers obviously underestimated interest rates, than actually.

After July, 1st 2007 banks are obliged to increase reserve funds for repayment of debts, in turn high-percentage rates of debts will extinguish difficultly, that can lead to ruin of banks.
Certainly, express credits bribe the availability, but nevertheless the boom has passed, now consumer credits much more effectively move ahead. As consumer credits serve for the decision of long-term problems, such as, habitation building, car purchase they are very important. But express credits still will refuse not soon, after all they allow to solve short-term problems, let for it to have and overpay the high interest rates exposed by bank.

It is possible to add to the aforesaid, that the cores of the user of express credits are not most protected social classes which have low level of incomes on which it is possible to receive rather small sum of money, therefore popularity of express credits directly depends on how soon well-being of the population to increase. For now express credits - the fastest and accessible way to receive necessary, let even small, the sum of money or a thing.

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This entry was posted on Thursday, September 25, 2008 at 5:45 пп and is filed under About credits in general.