In Russia, banks have limited the terms of cash loans
In Russia, banks have limited the terms of cash loans in the context of high interest rates.
In November 2024, the average term of a consumer loan was reduced to 26 months.
The average terms of cash and car loans continue to decrease for the fourth month in a row, as emphasized in an article by RBC .
Cash loan terms have been halved.
In auto loans, after a peak in August, the indicator fell to 67 months by November.
With this mortgage, as practice shows, loans have grown rapidly.
In the last month alone, the term has increased sharply by 5 years and 10 months. Such a trend has not been observed since at least 2020.
Experts largely attribute the rapid increase in mortgage terms to changes in the structure of housing loan issuances in November.
Increasing interest rates on loans leads to longer terms. Banks are interested in keeping the monthly payment attractive for the borrower.
