The unserved quick loans in our country increased by over 30% at the end of March. This is shown by BNB data. At the same time, the BNB tightens the criteria for granting mortgage loans.
"These 6 criteria concern the most important parameters when granting a loan. We are seeing troubling rates of lending. Banks are very liquid, interest rates on loans are very low, the appetite for indebtedness is very high", comments financial analyst Desislava Nikolova in the studio of Bulgaria ON AIR.
In her words, the BNB can be more drastic and work towards increasing the minimum required reserves. This is not the first time we are witnessing such measures, Nikolova pointed out.
"This is regarding new customers. Those who have already withdrawn, they have withdrawn under a specific type of conditions," the financial analyst specified.
According to Nikolova, the statistics of the BNB are a little more general, and there are other companies that grant loans and these data are included in the general ones.
"There is an increase in cases in the court in the direction of granted fast loans. The annual percentage of costs cannot exceed 5 times the penal interest for late payment, which means no more than 68.9% total increase in the cost of a quick loan. This means that the interest on this loan cannot be higher than 53.5%. The regulation is not enforceable for the relevant institutions and they have started charging additional fees. These loans have become terribly opaque," explained the guest.
Nikolova emphasized that with fast loans, a small amount should be taken and returned quickly.
"The Ball is something that has been known for years to happen. One should also set aside for contingencies. Care should be taken with these loans. Look for your rights according to the law, ask for the overcharged sums by court order", the financial analyst also said.
She herself has a case with a person who contacted her to solve a case with 36 quick credits. Nikolova added that the companies have an interest in continuing to grant quick loans to customers.
She once again recalled the golden rule that the amount of liabilities to credit institutions should not exceed 30-40% of net income.