The average term of a cash loan in Russian banks has decreased to a minimum since the beginning of 2019

December 24. /MEDIA TALK/. In November 2024, the average term for granting cash loans was reduced to two years. Kommersant writes about this today with reference to data from the United Credit Bureau. This is the lowest result since the beginning of 2019. At the same time, average interest rates and the full amount of loan repayments reached their five–year peak of 30.4% and 31.7% per annum, respectively.


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In early December, the trend continued: the loan term was reduced to 21 months, while the weighted average interest rates increased by another 0.6%. The reduction in lending is taking place against the background of the Central Bank's increased control over the provision of unsecured loans to citizens and the high level of the base interest rate.

In November 2024, banks issued 1.57 million credit cards, which was the lowest result in almost two years.