The full cost of loans has exceeded 34% on average

The total cost of loans (TCO) in the Russian Federation reached an average of 34.2% in the top 10 banks by the volume of the portfolio of loans to individuals, according to the data from their websites, which were studied by "Izvestia". For almost two months after the last increase in the key rate (up to 21%), it has grown by 1.4 p.p. We are talking about an indicator that includes not only the interest on the loan, but also all additional payments. For example, if it is required to take out insurance or a certain rate.

Neither to give nor take: the average size of consumer loans fell to Br132.4 thousand

This is the lowest value in the last seven years

At the same time, the minimum cost of loans reached an average of 28.8% - for two months, this indicator increased by 3 p.p., follows from data from the websites of major banks. This suggests that financial institutions have not only laid in the prices of the previous increase in the key rate, but also the possibility of its further growth at the meeting on December 20 - for this they are preparing. According to Izvestia's consensus forecast, the rate may increase by 2 p.p. to a new record of 23%.

The average loan term in October this year is 2.5 years, according to the United Credit Bureau (UCB). Overpayment on such a loan at an average APR of 34% will be one and a half times - about 44%.

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Don't be sorry: the average cost of consumer loans exceeded 34%