Over 10% of respondents use Bank deposits to save the savings of 20.7% have outstanding loans or borrowings from banks, microfinance organizations, credit consumer cooperatives pawn shops or.
MOSCOW, 20 Jan. Over 44% of Russians have at least one account in a credit institution, according to the Bank of Russia on Wednesday in the first studies on the demand for financial services.
It is noted that for the study the regulator developed the indicators of financial accessibility and the methodology used for their calculation. So, first there were performed measurements of the level of supply of financial services, and then their level of demand. It is reported that were interviewed about 1.6 thousand people in 150 settlements of Russia.
It was reported that 44.4% of respondents have at least one account opened in a credit institution. While Bank deposits for the preservation of savings used just over 10% of respondents. Outstanding loans or borrowings from banks, microfinance organizations, credit consumer cooperatives pawn shops or have 20.7 percent. According to the survey it became known that 20,2% of the interviewed Russians receive domestic or international money transfers, and sending money across the country or abroad 46.8% of the respondents.
It is also reported that because of low interest rates 17% of respondents did not want to open a Deposit, while 33.3% were refused a Bank loan due to its high cost. In addition, 22.9% of respondents did not want to enter into a contract of insurance because of its cost.
According to the survey, 11.9% of the adult population lack trust any financial institutions. It is noted that one of the reasons for the distrust may be the lack of basic financial knowledge and misunderstanding of principles of operation of those or other financial instruments. So, only 7.4% of respondents understand the meaning of the term “the basic purpose of insurance”, and only 37.3% of respondents know what is the interest rate. Perhaps that is why 64,1% of the citizens of the need for money turn to relatives or friends.
61,3% of the respondents are quite satisfied with the services of financial institutions, and 62.9% of the respondents believe that the proposed financial services have a positive effect on their quality of life. Contributing to this, including remote distribution of financial services and online or mobile banking, which is used by 19.3% of respondents and 65.9% of small and medium-sized businesses.