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Russians borrow without looking

Россияне берут в долг не глядя

Only 6% of Russians wishing to obtain a loan till payday a microfinance institution, compare the offers of different companies, the rest are literally at random. This is evidenced by the results of marketing studies of MFI “Bystrodengi” (one of the five largest companies in the market), which was attended by more than 9.5 thousand respondents. According to analysts, for the vast majority of MFI clients receive a loan is a spontaneous emotional purchase.

Half of MFI clients who wish to obtain short-term loans of up to 30 days, make a decision within a few minutes after reading the ads either after receiving the proposals of the microfinance organization. A pause for reflection (1-2 hours) take about 22% of clients. In General, customers pay attention to the location of the offices, the speed of getting microloans, conditions and quality of service.

According to General Director of group of companies “Bystrodengi” Yuri Provkin, the key point is the convenient location of offices.


— This is clearly evident in the cities where the offices of the MFIs can be literally door to door on the busy streets, he says. And although the number of MFIs in the market is reduced (as of 1 January remained 3683 organization), the largest players in last year increased the number of points of issue of short-term loans at 9% (6.5 thousand sales points). Many companies have loyalty programs for regular customers offering a discounted rate, so the need to compare disappears and for that reason too: about 37% of clients in the crisis began to make loans more often.

However, in the micro-Finance company MoneyMan, specializing in loans cash online, the research findings did not agree, stating high competition for borrowers in the Internet.

— There are many sites aggregate offers from different companies issuing online loans and classic loans in the sales offices. Until recently there was a myth that clients of MFIs are insensitive to the rate that they are not comparing offers of various MFIs. This is absolutely not true. At least the borrower online loans can compare quotes from different companies, is studying the terms of lending and loyalty programs, — commented the CEO of online lending MoneyMan Boris Batin. The company even conducted the experiment with reduced rates for one day four times — that day was set an absolute record for the number of disbursed loans, he said.

Question information hunger for the clients of MFIs ceased to be relevant after the entry into force of the law on consumer credit, according to head of SRO “Mir” Andrew Paranich: all the information about the total cost of credit (loan) is found on the main page of the contract.

— Price competition is more visible in the online segment. Case offline implies that a small amount was needed urgently and for a short while, so the interest rate differential — a couple of hundred rubles — at times it may not be worth to search an alternative time. If a person has a sore tooth, he’s looking for something nearby and urgently, says Pranic. The expert also stressed that the market the MFI is working and for entrepreneurs, who are extremely carefully examine the conditions, comparing them not only with other companies but also from banking.

According to experts, now, in addition to price competition, the microcredit market begins to fight for the client on the quality of services provided. In the case of MFIs the concept of quality includes the speed and convenience of filling the application for the loan, pending a decision, the number of ways of obtaining loans, the convenience of repayment and the availability of loyalty programs. Borrowers choose the MFI that offers a convenient way to transfer funds instantly to the card or e-wallet, payment system or via Bank transfer.

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