Translation. Region: Russian Federal
Source: Central Bank of Russia –
This is a quarter more than the year before. The main reason for this growth is the steady increase in gold prices. 94% of loans are issued against gold items as collateral. At the same time, the number of concluded agreements remained at the same level – 16.6 million per year.
Due to the growth in gold prices, the average loan amount also increased — from 16 to 21 thousand rubles. The total cost of loans (TCL) of pawnshops did not exceed 120% per annum. Rates vary significantly depending on the type of collateral — for example, for loans secured by a car, they are traditionally lower. For certain groups of citizens — pensioners, people with disabilities, large families — pawnshops offer preferential loan terms.
Large chain pawnshops are actively developing digital channels of interaction with clients: more than half issue non-cash loans and accept payments online.
Most borrowers try to repay the loan themselves in order to get back the collateral. 84% of loans are repaid in this way. For small pawnshops focused on retaining their customer base, this share is even higher. The rest of the loans are repaid by selling the pledged item. If the sale price exceeds the borrower’s obligations, the client retains the right to contact the pawnshop within three years to get back the pawned item. difference.
Read more in the publication “Pawnshop Market Development Trends in 2024”.
Preview photo: Vasanty / Shutterstock / Fotodom
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