Waking up after a period of hibernation, the retail bankers to slowly resume the issuance of unsecured loans. Optimists predict annual growth in cash loans at 10% and realistic estimates of avoided, but state a slight recovery in the segment. The flagship product of now — refinancing.
photo: Gennady Cherkasov
Respondents “EV” bankers give different rating for different periods. But from them we can conclude that the market cash loans the ice was broken, but melted. Vice-President of SMP Bank Roman tsivinyuk notes that in January–June 2017 the market of retail lending increased by 5.8%. The analyst of Bank “home credit” Stanislav Duginski gives the figures of the Central Bank of the Russian Federation according to which in January–may the growth of the portfolio of unsecured loans increased by 2.7%, and predicts annual growth in the range of 7-10%. In a press-service of Sberbank said that the portfolio of consumer credits of the Bank since the beginning of year has grown on 0,4%, “but gradually the rate increase.”
Zepinic, meanwhile, believes that the aggregate plus provides retail banking mainly mortgages, not consumer crediting. The market of cash loans is also rising, but more modestly: “it is Connected including with a rather low demand: if you had a cash loan for the average Bank customer was familiar with the product, now to the borrowed funds borrowers are treated more cautiously.”
“Basically, the recovery is due to the fact that customers are implementing the accumulated pent-up demand which was formed as a result of the transition from consumer savings behaviors because of the recent financial crisis”, — says the Director of the Department of development credit Bank products “Renaissance credit” Dmitry Kurganov.
The long-awaited decline
If the dynamics of the market financiers differ, the stakes are crystal clear: over the year they fell, and noticeable. “According to the index “Banks.ru” the average rate on unsecured non-earmarked cash loans in Russian banks included in the top 30 in the portfolio of loans to natural persons, since the beginning of the year decreased by 1.36 percentage points from 22.87 to 21 and 51% per annum. In June 2016, the rate was 27.3 per cent per annum”, — says the expert on credit products of the portal Anastasiya Belik.
The drop is predictable: because the Central Bank has repeatedly lowered its key interest rate, and the overall economic climate was better. Not surprisingly, the most popular trend in the segment of cash loans became a refinance in a separate product, or at the initiative of the borrower, which simply draws a new loan at a lower rate, which closes the already existing, more expensive.
However, by unscrupulous “creditopolis” with poor payment discipline will not help even refinancing. If earlier the banks were going to meet clients with overdue payments on loans issued by other banks, refinancing would-be borrowers, but now this practice is not honored. “We refinance only those loans for which customers have not previously made the exit delay, allowing you to build a portfolio at the expense of quality loans,” — says the Vice-President of “Mail Bank” Grigory Babadzhanyan. And colleagues agree with him.
Entangled in microloans comrades in banks course no: to refinance, they can count only in microfinance institutions. As the Director of legal Department GK “Rusmikrofinans” Anastasia Loktionov, about 70-80% of applications for refinancing comes from customers who are rejected by banks. “Payments on the microloans are viewed as an additional burden for the borrower, sometimes even their presence in the credit history is already a reason for refusal,” — said the expert.
Among their own
The minimum tariff plank for a cash loans looks quite nice — 12-14% per annum. But such a bet can only count “zarplatniki”, employees of budget organizations, partner companies, existing clients with positive credit history in this particular Bank. “For these categories usually offer more competitive rates: the rate is lower by 1-3 percentage points, than for new customers. In addition, the Bank may consider request of “his” borrowers on a reduced package of documents, as it can evaluate its financial position on the basis of information about the flow of funds account”, says Belik.
But even “their” customers will receive the lowest rate, if you are applying for a large sum — more than 400-500 thousand. the larger the amount and longer the term, the lower the rate. However, according to the respondents “EV” banks, the average loan amount cash is only 150-200 thousand Although this amount of money should not expect people with tainted credit reputation: the way to the banks they ordered, the only hope is to start the loan over a new leaf in MFIs, where even with bad credit history can count on 15-20 thousand virtually any borrowed. Only bets of course, multiples are different from Bank.
In credit institutions the maximum level of interest rates on cash loans the market average is 25-27% on the price tag can count customers from the street.
If you are ripe to cash loan, you first should know that can offer the “salary” Bank. The most favorable conditions for credit organizations offer payroll clients. Some banks lower interest rate will offer, who will go to the Bank on an individual payroll service. This option became available after the abolition of wage slavery.
If you are already being served by the Bank and passed the verification of identity, a few hundredths of a percentage point can save by taking out a loan online.
The classic rule — the more proof of income documents, the lower the rate, has not been canceled.
To impose insurance banks may not, but many of them offer reduced rates when making a life insurance and health. Attractive at first glance can be not so beneficial, so it makes sense to use calculator and calculate what will be the cost of the loan with the policy and without it.
Some banks have loyalty programs for disciplined borrowers that allow after a year of service credit with no late payments to lower the rate on 0,5–1 percentage point.