For most citizens of our country, obtaining a loan is the only way to purchase the necessary goods or pay for services. Only a few can afford to buy a car or apartment for cash. In this regard, the question of whether to take a loan now is more relevant for Russians than ever.
Prospects for Lending
Amid tensions in foreign policy relations with Europe and the United States and rising inflation, domestic banking structures are experiencing serious problems with liquidity. For this reason, they seriously thought about raising interest rates in order to somehow increase the volume of working capital. The matter is complicated by the fact that some banking institutions have their licenses revoked, so the degree of trust on the part of depositors has significantly decreased.
The question of whether to take a loan now is quite acute for representatives of small and medium-sized businesses. The proposed loan terms have been tightened at times. Many companies simply cannot fulfill their obligations to repay the loan and are forced to resort to bankruptcy proceedings.
Tactics of behavior of banking institutions
As already emphasized, credit organizations have tightened requirements for borrowers. However, it has not yet reached a real increase in interest rates. Despite the growing problems with the H1 indicator, large banking institutions are in no hurry to change their rates. At the same time, experts believe that an increase in interest rates on loans this year will nevertheless happen. Of course, the percentage of borrowers who are worried about whether it is worth taking a loan now and who will be refused to issue money will increase. What will they do? It is likely that they will look for alternative solutions to the material problem by contacting the MFI. Yes, experts predict high growth rates in the microfinance sector in 2015.
However, in the institutions of express loans, the interest rate will be rather large. All this against the backdrop of the economic crisis, wage cuts and staff reductions will indicate one thing - the debt hole will grow. Of course, the question of whether to take a loan now, everyone should decide for himself, but experts give a disappointing forecast - it is high interest rates and a shortage of cash among the population that will provoke delays in paying off debt.
What loans will be in demand this year
Financial analysts assure that this year the demand for mortgage lending programs will increase. The difficult geopolitical situation and the instability of the exchange rate will contribute to the fact that the basic objects - real estate and land - will significantly increase in value.
Mortgage
If you are considering whether it is worth taking a loan now, it is best to make a choice in favor of mortgage lending, especially since no significant increase in interest rates in this segment is expected in the near future.
Car loan
In 2015, a loan for the purchase of cars, moreover of Russian production, will also be in demand.
There are several reasons for this. First of all, the cost of foreign cars will skyrocket. In addition, after the deterioration of relations with the EU countries, the demand for foreign cars in Russia decreased. In addition, the citizens of our country, for reasons of patriotism, want to increase the prestige of the domestic automotive industry, whose products are several times cheaper than imported "iron horses". Thus, if you do not know whether it is worth taking a loan now, then buying a Russian car with borrowed funds will be the right decision!
Consumer loan
Certainly, consumer lending programs will not lose their popularity. However, borrowers should consider that the interest rate in this segment will seriously increase. This is again explained by the crisis in the economy and the devaluation of the national currency. If interest rates for the first two types will increase slightly and gradually, then for this type of loan - sharply and quickly.
Difficult to answer the questions: “Is it worth taking a loan? Live on credit now or buy later? ”
In 2015, potential borrowers will need to more seriously assess their own solvency when drawing up a new loan agreement.
Will there be a default this year
Many Russians fear a default in the domestic economy. What it is? This is partly a situation in which a country is unable to pay off external debts. I am glad that our country has almost none. To some extent, default can be called a failure in reforming the pension system. The considered negative phenomenon in the economy may occur due to a budget deficit, if, for example, we are talking about a decrease in the amount of money received from the sale of natural resources for export.
The global crisis this year will reduce consumption, and therefore, demand for energy will fall, which will certainly hit the Russian economy. To improve the situation, it is necessary to establish business ties with China, to which our country already supplies hydrocarbons, which favorably affects the economic situation in the eastern regions of the country.
What will happen to financial stability and wages
Currently, an increase in gas prices has been recorded, as well as an increase in inflation. Food prices are skyrocketing, and the ruble is falling.
What does this mean? Just that the goods will go up in price, and the ordinary employee will not be able to count on bonuses and cash bonuses from the bosses. More and more commercial structures will initiate bankruptcy proceedings, which will automatically entail an increase in unemployment. Salaries will not be increased, at least in the first six months of 2015. In any case, you will need to think seven times about whether it is worth taking a loan now. The opinions of experts on this subject are, unfortunately, disappointing.
Does it make sense to take foreign currency loans this year
This question should be answered in the affirmative. The benefit of a foreign currency borrower with an appreciation of the dollar and the euro is obvious. In 2008, those who issued long-term loans in foreign currency during the period of its active growth and paid off the debt in rubles remained the winner. After 3 months, the American and European currencies began to fall in price, respectively, borrowers began to pay less. Clients also felt the benefit, who did not begin to exchange the loan currency for domestic rubles. This year, the euro and the dollar should not drop sharply, however, some reputable experts say that by the summer the dollar will cost no more than 45 rubles.
Is it worth the wait for lower interest rates
Those who are particularly worried about the question of whether to take a loan now and whether it is profitable should know that in the near future interest rates will not decrease.
Moreover, one part of the experts is convinced that it is more advisable to refuse a loan today, since interest will steadily grow, while the other, on the contrary, approves debt obligations and claims that it is better to deal with banking institutions, rather than microfinance organizations. It should be emphasized that in an MFI the borrower will receive money at 150% per annum, which, of course, is very, very much. The rate at the bank is much lower, but guarantees that the loan will be approved are minimal.
Considering the question of whether it is worth taking a loan now or better to refrain from it, one cannot but take into account the opinion of financial analysts who recommend borrowing money precisely in banking institutions, where the share of household deposits is high. The larger the amount of money received as a deposit is operated by a banking institution, the higher is its liquidity indicator, which indicates its reliability.
Still take or not take
Of course, for many, the question of whether it is worth taking loans now and what it threatens with is of paramount importance. Weigh carefully the pros and cons, and only then make the final decision. Think about whether you really need a thing whose purchase you want to arrange on credit. Carefully study the available offers in the banking services market and choose the one that is most beneficial for you. If you can postpone the loan, it is better to do this in order to avoid unforeseen material problems. In other words, apply for a loan only as a last resort, for example, if you need to pay for your children’s studies or expensive treatment for your near and dear ones.
General recommendations
So, you have positively resolved the question of whether it is worth taking a loan now. Useful tips below will help you.
First of all, opt for ruble loans. So you can minimize the risk of increasing the amount of debt in case the dollar starts to grow. If you get paid in American or European currency, then it is better to borrow money in rubles anyway. The depreciation of the national currency will help reduce the amount of your debt.
Also pay attention to the fact that it is more advisable to get a loan for the purchase of a product, since the interest rate on it is lower than that of cash loans.
Keep in mind the fact that you are not obliged to follow the bank and pay insurance and other commission fees - all this is voluntary.
Well, of course, check how reliable a particular banking institution is. Before signing a loan agreement, carefully read all its conditions, especially those that are written in small print. So you can protect yourself from unpleasant surprises in the future!