are calibrating their products so philippines telegram data that borrowers pay high rates if they do not manage to repay the debt during the grace period. By the way, since July 1, the legislative restriction on the APR (the loan rate cannot exceed the average rate by more than one third) has come into effect again, and this will contribute to lower rates for citizens. We will assess how this will affect the lending dynamics.
“IT’S TIME TO REGULATOR THE INSTALLMENT PLAN”
— Another new trend is the growth of online shopping. And marketplaces have started to actively use installments. How do you rate it?
— This market is growing rapidly. At the end of last year, 2.2 million citizens used installment services. The terms there are short — up to 6 months, and the amounts — no more than 80 thousand rubles. The market volume was about 10 billion rubles per month. In the overall market volume, this is very small. Nevertheless, we believe that it is time to regulate installments. In fact, this is a product very close to loans and credits. Therefore, it is important to ensure the protection of citizens. There are some nuances there. When issuing online installments, the marketplace often does artificial intelligence: a journey in its initial stages not identify the client. There is only a phone number and bank card details. As a result, there are interesting situations — for example, children use the Internet alb directory and order something for themselves, not realizing that mom and dad will have to pay for it. We are discussing this topic with marketplaces.
And what about microloans?
They made a lot of noise in their time. The interest rates there were and remain sky-high.