May 25, 2015. Bank Koltso Urala’s analysts report the demand for loan refinancing went up in the second quarter of 2015, the bank’s press service says.

According to the bank’s Standard Loan Products Director Natalya Golubeva, now as customers keep trying to cut down on their expenses the trend for merging several expensive loans from different banks (credit cards, car loans, consumer loans, etc) into one continues.

‘Bank Koltso Urala started refinancing other banks’ loans relatively recently, but we can already do a statistical analysis of a typical customer for the service. These people are forty-five on average and are interested in getting two loans worth, on average, 174,000 RUR and taken out for about three years’ time refinanced,’ Golubeva said.

The bank’s Consumer Loan offer targeted specifically at refinancing other banks’ loans allows one to make up to five active loans less costly. Customers who make their loan repayments without delay can get all of their debts merged and make the payment at a single location, on one designated date. Such a loan can be up to 1m RUR big, with the loan period of up to seven years. The minimum interest rate was reduced to 18% a year recently.