Consumer lending in Russia and the lowest rate in the world

Many borrowers celebrate the profitability of proposals in the Russian lending market, from here the consumer loan has become the most popular product designated by citizens.

And what about the world? What interest rate is offered in other countries?

About the consumer loan and the most favorable bets in the world today in our article.

In the first half of the year 2021, the number of Russians issued a consumer loan increased by more than 10% compared with the same period last year, which amounted to more than 7,000,000 issued consums.

Russians actively occupy money in banks and microfinance organizations to buy expensive goods or payment for services. So recent studies have shown that tourist trips, jewelry, household appliances, educational services, and repair auto and apartments have become the most popular among purchases on credit.

The amount of interest rate is governed by the central bank, which sets the minimum key value, below which credit and financial organizations cannot issue loans.

In addition, the interest rate for the Bank’s customers varies depending on the conditions on the basis of which the loan is issued. The reduced rate is waiting for those who offer collateral property to the lender, or provides the guarantor and the coacher, but also those who simply receive high income will not remain aside from profitable proposals.

Such a tendency was observed in Switzerland, Denmark, Sweden, as well as Japan. The interest rate in these countries fluctuated within the values from — 0.75% to — 0.1%.

To reduce interest rates in Russia, and approaching it to the one that in other countries, the state is actively struggling with inflation. Today, the decline in interest rate to zero can lead to hyperinflation, so the central bank does not hurry to an equalification with other countries.