In Russia, commercial banks have stopped approving almost 80% of loan applications. This was reported by the Pravilamag portal.
According to the data, by the end of July, the loan approval rate was only 21.4%. At the same time, 60% of mortgage applications and every 4th–5th car loan and consumer loan application were rejected. This situation persists despite the availability of preferential programs. The reduction of the key rate to 18% and the decrease in loan interest rates also did not have a significant impact on the situation.
According to the Central Bank’s press service, the main reason for such a strict policy by banks is the increase in overdue debt on previously issued loans. Economist Andrey Barkhota noted that by the end of 2024, the total debt volume had reached almost 37 trillion rubles.
People with existing loan debt are deprived of the opportunity to take new loans. At the same time, even citizens without debts and with a good credit history sometimes receive refusals. If 50–80% of a person’s monthly income goes to debt repayments, banks also reject such applications. According to Banki.ru expert Inna Soldatenkova, the share of such borrowers is limited by the Central Bank.
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