Expensive and little: what became the conditions of microcredes during the war

Where and who else gives Ukrainians fast loans" under 0%"focus found out that microcredit MFIs remain as expensive as before the war. " Transparent and full cost of such services should disclose all microfinance organization. This applies to their advertising, sites and contracts. It is the transparency of consumer loans that helps Ukrainians compare the proposals of different creditors and make the best decisions taking into account their own financial condition, "the National Bank explain. .

where the NBU's requirements disclose detailed information about the financial product. Such a document can usually be found in the "disclosure of information", etc. In the MFIs, information about the essential characteristics of which was analyzed by focus, real annual interest rate (taking into account interest, commissions and all additional payments) is tens and even hundreds of thousands of annuals.

However, for citizens who are left without work, income that already have high debt or delayed payments on loans, MFIs are a creditor of the last hope. . If the microcredit rates are left As high as before the war, the terms declined and the amounts decreased.

According to the observations of Grigory Pavlenko, lawyer, partner Pavlenko Legal Group, now when issuing microcredites, preference is given to clients who can repay quickly-in 1-2 weeks, as longer loans are perceived by financial institutions as risky. The maximum amounts of loans and the average check have also decreased markedly. Many MFIs offer no more than the equivalent of one minimum wage - 6700 UAH.

It is important to understand, taking to the MFI for no more than a few thousand to a salary for a few days, you can not feel a significant overpayment by micro -loans. However, loans for large amounts for several months can lead to an increase in debt at times. The largest MFIs during the war mostly retained positions and in the aggregate even increased the share in the market, which focus writes in detail in the review "Thousand percent of annual.