Among Russian borrowers, there was a change of generations. If five years ago the loans were taken exclusively middle-aged people, but today it is citizens between 25 and 29 years old. Sociologists new trend is explained by the desire of young people to live large on a modest income. This behavior, as experts predict, could increase the debt load of the population. The fact that an inexperienced borrowers lend primarily microfinance institutions (MFIs). And they do it under extreme interest that the young can not afford.
photo: Alex geldings
Russians are increasingly looking for financial support not in the banks, and microfinance institutions. However, this behavior of our fellow citizens is understandable: MFIs give the money quickly and easily. However, under a furious rate, which can reach hundreds of percent. As a result, the population mired in debt. According to the Bank, the size of the microloan portfolio in the first quarter of 2017 amounted to 96,4 billion. This is 9.4% more than at the end of 2016. And the number of borrowers since the beginning of the year increased 14.6%, to 5.9 million people. And among them, more and more people from 25 to 29 years. “The older generation has already been experienced in previous crises and loans at inhuman rates, comes a young, inexperienced generation,” — said the first Deputy Director of the Institute of actual Economics Ivan Antropov.
And if middle-aged people, not just burned, try to do without loans, for young payday loans now become commonplace. As explained by associate Professor of economic sociology at HSE Dilyara Ibragimova, “against the background of a General decline in income among young people interest in lending more because the needs are greater”. Unlike their parents they do not agree to accept the restrictions imposed by low incomes. I want a beautiful life right here and now.
Meanwhile, MFI hit the ground running. He felt the weakness of its “green” borrowers, they put all the new snares. According to the National Bureau of credit histories (nbki), MFIs approve more than 50% of applications for state entities. For comparison: banks give a positive answer only in 38% of cases. “From the point of view of banks and MFIs “good”, Mature borrowers getting smaller, so they turn their attention to the segment of citizens who are just entering into the adult — including financially — life”, — says marketing Director of NCB Alexey Volkov.
However, both banks and MFIs are aware of the fact that the youth is quite risky from a financial point of view of age group. So, for example, banks try to offer her credit card, where there is a limit. “However, the business model initially allows MFIs to provide loans to high-risk segments of borrowers and to effectively manage credit risk. Including using parameters such as the size of the micro-loans”, — said Volkov.
By the way, according to the NBCH, in the second quarter of 2017 the average size of a microloan in young people increased by 11.5% compared to the same period last year. It amounted to 9.8 thousand virtually any.
However, experts call this trend dangerous. “Rapidly increasing debt burden on young people — the economically active stratum of the population, forcing her income to spend on the purchase of goods — this could support the industry, and for the payment of extortionate interest”, says Antropov. Therefore, according to him, the government should consider the revision limits the upper limit of the overpayment on the loan and on measures of wage growth. Otherwise the whole country will turn into debtors.
As for young borrowers, experts advise them to seek an alternative loan “to paycheck” and not to succumb to the temptation to make impulse purchases. As recommended by Ibragimov, before you buy something, you need to think about whether you need this thing to pay for it two or three prices. Otherwise, to answer for the fleeting desire to have Mature.