Designing for the majority of our country citizens. A loan is the only way to buy the necessary goods or pay for services. Few can afford to buy a car or an apartment for cash. In this context, the question of whether a loan should now be taken out is more relevant than ever for the Russians.
Facing Foreign Policy Tensions Domestic banking institutions face serious liquidity problems due to their relationship with Europe and the United States and rising inflation. For this reason, they are seriously considering raising interest rates to at least somehow increase the volume of working capital. The case is aggravated by the fact that licenses are being withdrawn from some banking institutions, which has significantly reduced investor confidence.
The question of whether to take out a loan now is pretty acute for small and medium-sized businesses. The proposed loan terms have temporarily tightened. Many companies simply cannot meet their loan repayment obligations and have to file for bankruptcy.
Tactics of banking institutions
As already emphasized, credit institutions tightened requirements for borrowers. However, there has not yet been a real rise in interest rates. Despite growing problems with the H1 indicator, large banking institutions are in no hurry to change their interest rates. However, experts assume that the interest rate hike for loans will continue in the current year. Of course, the percentage of borrowers who are concerned about whether to take out a loan now and who are being denied the money is increasing. What are you going to do? It is likely that they will look for alternative solutions to the material problem by contacting the MFI. Yes, experts expect a high growth rate in the microfinance sector for 2015.
However, interest rate in the institutions of express credit rate will be rather large. Against the background of the economic crisis, wage cuts and downsizing, all of this will prove one thing: the debt pit will grow. Everyone has to decide for themselves whether it is worth taking out a loan now, but experts give a disappointing outlook – high interest rates and a lack of funds for the population will lead to delays in the repayment of debts.
What loans will be in demand this year?
Financial analysts are assuring this this year, and demand for mortgage programs will increase. The complex geopolitical situation and the instability of the exchange rate will help to significantly increase the value of the basic objects – real estate and land.
If you are considering whether it pays off now when you take out a loan, it is best to make a decision in favor of mortgage loans, especially since no significant rate hike is expected in this segment in the near future.
A loan for car purchases and Russian production is also in demand in 2015.
This can be explained for several reasons. First, the cost of foreign cars will rise rapidly. In addition, after the deterioration in relations with EU countries, the demand for foreign cars in Russia has decreased. In addition, for reasons of patriotism, the citizens of our country want to increase the reputation of the domestic automotive industry, whose products are many times cheaper than imported “iron horses”. So if you don’t know if it is worth taking out a loan now, buying a Russian car with borrowed money is the right decision!
Certainly not lose popularity and consumer credit programs. However, borrowers should take into account that the interest rate will rise significantly in this segment. This is in turn explained by the economic crisis and the devaluation of the national currency. If the first two types of interest rates rise slightly and gradually, then this type of loan is sharp and quick.
Questions that are difficult to answer: “Is it worth taking out a loan? Live on credit now or buy later? “
In 2015, potential borrowers will have to assess their solvency even more when signing a new loan agreement.
Will there be a failure this year?
Many Russians fear an internal payment default. What’s this? In part, this is a situation in which the country cannot pay foreign debt. I am glad that our country has almost none. To some extent, the failure can be described as a failure to reform the pension system. For example, the negative economic phenomenon under consideration may be due to a budget deficit when there is a decrease in revenue from the sale of raw materials for export.
The global crisis this year will reduce consumption, as a result, energy consumption will decrease, which will surely hit the Russian economy. To improve the situation, it is necessary to build business relationships with China, to which our country already supplies hydrocarbons, which has a positive effect on the economic situation in the eastern regions of the country.
Does it make sense to take out foreign currency loans this year?
This question should be answered in the affirmative. The advantage of a foreign currency borrower with an appreciation of the dollar and the euro is obvious. In 2008, the winners were those who issued long-term foreign currency loans during the active growth and paid off the debt in dollars. After 3 months, the American and European currencies started to fall in price, the borrowers started to pay less. Customers also felt the benefit of not starting to convert the currency of the loan into domestic dollars. The euro and dollar should not fall sharply this year. However, some reputable experts say that the dollar will not cost more than 45 dollars by the summer.