The time is not appropriate today for crediting. Half of respondents say that it is better to borrow from a friends or relative, and one-third of Russians say that it is better to get a credit from a bank, if you need money urgently.
MOSCOW, October 1, 2014. Russian Public Opinion Research Center (VCIOM) presents the information concerning the following issues: whether the time is appropriate today to get a credit; whether Russians got credits before; where to go in need of money urgently.
In autumn the credit trust index showed negative trend for the first time in this year. Index displaying whether the tine is appropriate for crediting* showed the five-year maximum in the first and second quarters (40 points) and weakened in the third quarter scoring 34 points. The current value is exactly the same value that was in 2012 (34 points in the third quarter). The share of the positive assessments of Russians regarding the crediting has decreased (from 32% in the second quarter to 23% in the third quarter this year), and the share of the negative assessments has increased (from 57% to 63%).
More than half of respondents got credits at least once in their lives (57%): 20% only once; 33% - several times; 4% - constantly. Russians aged 35-44 used credit programs two times more frequently than those aged over 60 (71% and 33%, respectively). Forty-two percent of Russians never dealt with credits (67% of retired persons; 59% of those who have elementary level of education; 56% of those who rarely or never use the Internet).
In need for money urgently, 54% of Russians will go to relatives or friends; 32% will go to a bank; only 5% of Russians would go to a microfinance institution (“payday loan”). Every tenth Russian (11%) would apply for a credit card; 6% would sell personal property; 3% would pawn valuables; 4% will borrow money from a mutual aid fund at work.
*Credit trust index shows how good the present time is for crediting. The index is based on the question “In your opinion, is time appropriate today to get credit?” In case the answer is “rather good”, the coefficient is 0.9; “rather bad” – 0.1; “don`t know” answer – 0.5. The index is measured in points and can vary between 10 and 90. The higher the value of index is, the more favorable the modern times are for crediting according to Russians.
The VCIOM opinion poll was conducted on September 20-21, 2014. 1600 respondents were interviewed in 130 communities in 42 regions of Russia. Data are weighted by gender, age, education, working status and type of settlement. The margin of error does not exceed 3.4%.
In your opinion, is time appropriate today to get credit? (closed-ended question, one answer) | |||||||||
| III quarter 2008 | III quarter 2009 | III quarter 2010 | III quarter 2011 | III quarter 2012 | III quarter 2013 | I quarter 2014 | II quarter 2014 | III quarter 2014 |
Rather yes | 15 | 10 | 19 | 21 | 24 | 25 | 31 | 32 | 23 |
Rather no | 58 | 76 | 65 | 64 | 63 | 61 | 57 | 57 | 63 |
Don`t know | 27 | 14 | 17 | 14 | 12 | 14 | 13 | 11 | 14 |
Index* | 33 | 24 | 32 | 32 | 34 | 35 | 40 | 40 | 34 |
Have you ever got any credit? If yes, how often? (closed-ended question, one answer) | |||||
| Total respondents | Elementary (incomplete secondary) education | Secondary education (school, vocational school) | Specialized secondary education (technical school) | Incomplete higher (not less than three years in a higher education institute), higher education |
Only once | 20 | 14 | 20 | 20 | 20 |
Several times | 33 | 27 | 29 | 38 | 33 |
Constantly | 4 | 0 | 3 | 4 | 4 |
Never | 42 | 59 | 46 | 37 | 41 |
Don`t know | 1 | <1 | 2 | 1 | 2 |
In case you urgently need money and your savings are not enough, where will you get money from? (closed-ended question, not more than 3 answers) | ||||||
| Total respondents | Aged 18-24 | Aged 25-34 | Aged 35-44 | Aged 45-59 | Aged 60 and more |
I will borrow money from a friend or relative | 54 | 57 | 52 | 52 | 52 | 62 |
I will get a credit form a bank | 32 | 29 | 40 | 40 | 35 | 14 |
I will apply for a credit card | 11 | 12 | 14 | 13 | 12 | 4 |
I will sell my personal property | 6 | 6 | 8 | 5 | 6 | 5 |
I will get a credit from a microfinance institution (“payday loan” et cet.) | 5 | 6 | 6 | 6 | 4 | 3 |
I will borrow from a mutual aid fun at work | 4 | 3 | 6 | 6 | 4 | 2 |
I will pawn valuables | 3 | 2 | 2 | 3 | 3 | 3 |
I will borrow from a credit union | 1 | <1 | 1 | <1 | 1 | 1 |
Other | 2 | 1 | 2 | 1 | 3 | 5 |
Don`t know | 9 | 6 | 6 | 6 | 9 | 1 |
Note: Using materials from the site www.wciom.ru or wciom.com, as well as distributed by VCIOM, the reference to the source (or hyperlink for the electronic media) is obligatory!