Most often, microcredits are obtained due to force majeure circumstances.
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The All-Russian Center for Public Opinion Research (VTsIOM) conducted a large-scale study on microfinance organizations (MFIs).
Once upon a time, these MFIs were fierce and attracted people with the availability of loans. To pay for something extra, for example the money needed to buy an apartment, people borrowed 600% or more a year against the security of that apartment. There was no time to pay, the debt grew to astronomical proportions, and legally savvy financiers (here is the agreement, here is the signature) took the entire apartment from the victim through the courts. It was easy to fall into slavery even by asking for a loan for a vacation or a new mobile phone.
After numerous complaints and publications, including in Komsomolskaya Pravda, the Central Bank has brought relative order in this area. The possibility of obtaining a loan without bureaucratic procedures and without many documents proving solvency has been preserved, but appetite has reduced. Now the maximum rate is 0.8% daily or 292% annually.
What is a typical borrower like? According to VTsIOM, this is a woman between 35 and 44 years old with higher education and average income. You work as a specialist, are married, have no children or have already reached adulthood.
“It should be noted that, although they are not the overwhelming majority, the majority of MFO borrowers are women, and among them the majority are married,” marketing specialist and consumer behavior psychology expert Arsen commented on kp.ru. Dallakyan. – The question arises: why should a married woman take out a loan herself and where is the man? Maybe you already have several loans outstanding and are at risk of being rejected, but you need money.
Basically, the expert noted, microcredits are contracted due to force majeure circumstances that require immediate expenses.
“I crashed a car, I need money for repairs, someone got sick, I need money for treatment,” Dallakyan gives examples. – Money is also needed in positive situations, for example for a wedding. Another reason to seek help from an MFO is the need to intercept money a few days before payday. Basically, it is a grocery loan.
In August, the Bank of Russia proposed ways to further reform MFOs that would ease the financial burden on clients. In particular, it is planned to allow only one loan “before payday”, introduce a cooling period (after repayment of the loan, the next one can only be taken after 3 days) and limit the level of maximum overpayment of the loan 130% to 100% of the loan amount.
According to the National Bureau of Credit History (NBKI), in August 2024, the average amount of a payday loan was 9.88 thousand rubles. This is 5.1% more than in August 2023 (9.4 thousand rubles).
THOSE WHO REQUEST A LOAN MOST FREQUENTLY “BEFORE THE SALARY”, %
women 57
Age 35-44 years 29
Higher education 66
Average financial situation 66
Employee 56
Position – specialist 57
Married 55
No minor children 51
Source: VTsIOM
HOW MUCH MONEY IS BORROWED “BEFORE THE SALARY”, rub.*
2019 415 billion
2020 417 billion
2021 631 billion
2022 772 billion
2023 1 billion 7 million
* Total volume of microcredits
Source: Central Bank
