Microcredit at 365% APR

Following the lead of their smaller counterparts, large banks also started issuing small loans at usurious interest rates. For example, only a couple of weeks ago, according to Vedomosti, the bank "Trust" began to lend the amount of 1,25-11 thousand rubles. under 1% per day (or 365% per year) for a month. Plus, the borrower must pay a fee of 250 rubles to 1 thousand rubles. The Bank has already granted 60 credits and is not going to stop there. Fortunately, the field for the "Trust" wide, for major clients such loan, are generally poor people who do not have any cash deposits and needs financial support to get the salary. Also, get a microloan for a small amount is relatively easy, all you need to provide a passport, everything else will make scoring system. In addition, as a source told the representatives of the bank, the idea picked up a credit institution in other financial companies. For example, in nine Russian cities the company operates LLC Aktivdengi, loans to customers at 732% per year. Its customers include more than a 0.5 million people. With regard to banks, this service provides Probusinessbank, Yekaterinburg "high bank" and Saratov "Express-Volga". However, as noted Managing Partner Frank Research Group Yuri Gribanov easiest to use product "Life", which is ready lent up to $ 15 thousand rubles. below 15% for the month. But the "Trust" will have to overpay exactly half the amount with a minimum loan and 39% - from 11 000 rub. Yet this type loans are more popular in the regions than in the capital. This business has evolved during the crisis, when many people are especially in need of financial support. That's major customers "Aktivdengi" Women are from lower middle-income in need of urgent money and have no opportunity to have someone to ask.