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- Convenient debts: why the popularity of non-targeted loans secured by property has grown
Convenient debts: why the popularity of non-targeted loans secured by property has grown
The share of non-targeted loans secured by property has reached its maximum since 2023, amounting to 15.5%. The growth occurred against the background of a sharp increase in the key rate to 21% and stricter regulation in consumer lending, experts believe. However, against the background of monetary policy easing and the weakening of the ruble, there may be a downward trend, they warn. What else is the reason for the surge in this type of lending — in the material of Izvestia.
Reaching the maximum
According to the results of the first half of 2025, the share of non-targeted loans secured by property reached its maximum value over the past two and a half years, amounting to 15.5%. The indicator increased by 10%. This is evidenced by the data from Frank RG.
It follows from them that the volume of issuance of non-targeted loans secured by real estate amounted to 22.6 billion rubles. At the end of 2024, there was a failure in this segment, which was compensated for.
Meanwhile, the total share of non-targeted loans continues to fall. In the first half of 2025, banks issued such loans for 1.4 billion rubles, which is 57.8% lower than in the six months of the previous year.
In particular, the volume of non-targeted car loans is decreasing. In June, it dropped to 17.2 billion rubles after a December high of 22.1 billion rubles.
The total volume of cash loans increased by 1.2% compared to May, reaching 284.3 billion rubles. The average loan volume increased to 172.5 thousand rubles, an increase of 9.9%.
In quantitative terms, loans were granted in June by 50.4% less than in the same month of 2024. The average loan size also decreased — it decreased by 10.4% over the same period.
The Izvestia editorial board sent a request to Frank RG. No response has been received at the time of publication.
The obvious benefit
With the retail lending market cooling, including an increase in the key interest rate and the introduction of macroprudential limits, the popularity of consumer loans secured by property has increased, says Alexey Volkov, Marketing Director of the National Bureau of Credit Histories. These loans are beneficial for both lenders and borrowers themselves.
Non-targeted loans secured by real estate have always been common, but they accounted for a much smaller proportion because the needs of customers were covered by more standard products, says Oleg Skvortsov, Chairman of the Board of the Association of Russian Banks.
— In the current situation, this loan is beneficial for the client because if there is a need for lending, he can get a loan secured by his real estate and at the same time, perhaps, the rate will be lower than with an unsecured loan, — he explains.
Citizens get the opportunity to get a loan on more attractive terms, Volkov agrees. Credit organizations are ready to offer favorable rates on such a loan, which differ from the standard conditions, says Yuri Lyandau, Professor at Plekhanov Russian University of Economics.
It is also important that such a loan is easier to obtain — due to the provision of collateral, the procedure for verifying the risk management of financial organizations is simplified, the expert adds.
In loans secured by property, customers have the opportunity to receive large amounts for a long time, which reduces the debt burden, the analyst emphasizes "Banks.<url>" by Erania Bochkina. This is especially true when alternatives without collateral become unavailable, investment advisor, President of the Association of Investment Advisers Yulia Kuznetsova is convinced.
— In case of inappropriate lending secured by property, the borrower can receive a large sum and dispose of it freely, spending it on repairs, medical treatment or business development. At the same time, he will make a smaller monthly payment, which often turns out to be more profitable than a consumer loan or refinancing," she explains.
Such loans allow the borrower to dispose of money freely, without limiting himself to the scope of the intended purpose of the loan, confirms Bochkina.
Targeted loans, in turn, are not always suitable for borrowers, Yuri Lyandau believes. Often, people take out inappropriate loans secured by property in order to invest in starting a new business or scaling an existing one. And this is another reason for the popularity of such loans.
Natural growth
The growth in the share of non-targeted loans secured by property is also justified by the tightening of monetary policy, Oleg Skvortsov believes. A sharp increase in the key interest rate to 21% and stricter regulation in consumer lending have led to an increase in the number of such loans, Yulia Kuznetsova agrees.
"To a certain extent, all this has led to increased risk for banks, who understand that with such a high rate, it is more difficult for customers to service their debts," Skvortsov notes.
It has become more profitable for banks to issue secured loans, as this reduces the risks of non-repayment and minimizes the impact of regulatory restrictions on capital, says Erania Bochkina.
The strengthening of the ruble also had an impact on the popularity of non-targeted loans secured by real estate, says Inna Litvinenko, associate professor of Economics and Management at the Russian State University of Social Technologies.
— A strong ruble allows Russians to believe that here and now, by taking out an expensive loan secured, they will be able to pay it off quickly and not part with their property, — explains the interlocutor of Izvestia.
A certain percentage of the total figure was added by the emerging trend towards lowering the refinancing rate, she said.
Mutual benefit
The main advantage for banks is that a non—targeted loan secured by property is a secured loan, Oleg Skvortsov points out. The credit institution receives collateral, which reduces risks, in particular the risk of non-repayment, and increases the reliability of the portfolio, confirms Yulia Kuznetsova.
— In addition, such loans look better in terms of capital and reserve requirements. Given the uncertainty of the economy and the high volatility of interest rates, collateral lending gives more control over the quality of assets, the expert emphasizes.
The difficulty that banks may face is that they need to properly assess the property they receive as collateral, says Inna Litvinenko. In case of incorrect assessment, the credit institution may incur certain costs.
—But often banks that work with non—targeted loans secured by property have a good practical basis, and there are no problems," the economist notes.
Saving positions
The trend towards an increase in the issuance of non-targeted loans secured by property will continue with a reduction in the key rate to 13-15%, Inna Litvinenko believes. The second important factor is the absence of shocks from the weakening of the ruble. Growth will also be strong if the refinancing rate remains at 17%. In this case, according to the economist, by the end of the year it will be possible to reach a volume of 22-25%.
However, if the ruble weakens and reaches the level of 100 rubles per $1, the issuance of non-targeted loans will begin to decline, the Izvestia interlocutor predicts. This is partly due to the fact that Russians often take out inappropriate ruble loans to play in the foreign exchange market.
Interest in collateral lending may weaken in the future against the background of a significant easing of monetary policy by the Central Bank, admits Yulia Kuznetsova.
"Demand will shift back towards unsecured loans due to a lower debt burden and an increase in the approval rate," the expert points out.
If the cost of raising funds becomes lower, people will no longer have to look for additional ways to secure a loan, as the usual credit products will become more affordable, agrees Erania Bochkina.
The share of other types of loans will grow accordingly: the volume of mortgages, consumer loans and credit cards will increase, Oleg Skvortsov lists.
However, secured loans will remain popular with borrowers who need large sums, as well as those who want to consolidate high-interest debts into a more profitable format, Kuznetsova is convinced.
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