Real consumer loan rates are close to 40%

By the end of March, the average level of the total cost of loans approached 40%. This follows from data from the websites of banks that Izvestia studied. On average, among the top 15 market players, it jumped by 2.5 percentage points in two weeks. At the same time, the upper limit of the UCS has almost reached 50% on average, and for individual players it has gone to 60-76%.

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"The minimum rates are offered to borrowers with a high credit rating, stable income and no delinquencies, while the maximum rates are applied to customers with an increased risk of default, for example, if they have debts, low income or unstable employment," explained Magomed Gamzaev, director of the credit department at Compare.

The UC includes all expenses that the borrower pays during the loan period. In addition to the rate, this is usually also the cost of insurance and commissions — for servicing, maintaining the borrower's accounts, issuing cards, and other additional services.

Read more in the exclusive Izvestia article:

Value added: real consumer loan rates approached 40%