17:53 - 4.11.2024

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November 4, Fineko/abc.az. The banks' loan portfolio is 35-fold higher than NBCOs’ loan portfolio. But despite this, loans given by NBCOs are growing faster. Thus, the loans given by non-banking organizations increased by 196 million manats, or 36%.

ABC.AZ informs that some of the NBCOs specialize in certain areas, but about half of the organizations give cash loans for various needs.

To compare the terms of NBCOs’ lending in the country, the amounts of NBCOs’ monthly payments for repayment of a loan in the amount of 5,000 manats over an 18-month period were compared.

The study shows that the annual interest rate on loans for this period in the NBCOs ranges from 17.5% to 35%. This difference also manifests itself in monthly payments. Thus, for a loan of 5,000 manats given for an 18-month period, monthly payments vary from 318 to 363 manats.

Among the NBCOs offering the highest monthly payments, the leaders are NBCOs as follows: BOKT International, AzFinans, NAS PROJECT and Caspian Finance. With an annual interest rate of 34-36%, the monthly payments of these NBCOs also amount to about 360 manats.

For comparison, the monthly payment in 10 NBCOs for the same amount and term is less than 330 manats, and in 4 NBCOs – less than 320 manats.

Such a wide range of monthly payments between NBCOs increases competition in the market by offering various options suitable for everyone. Those who want to take out a loan should make the right choice regarding these payments, taking into account their financial situation and ability to pay.