M.Video-Eldorado began granting microcredits in amounts up to 100 thousand rubles

According to information on the retailer’s website, when applying for a loan in the amount of 5 to 30 thousand rubles for 28 days, the rate will be 0.8% per day and the total cost of the loan (FCC) will be up to 292% . If you borrow from 30 to 100 thousand rubles for a period of three to 12 months, the rate will be 29%, and the PSK – up to 134.585%.

The microcredit company DK Pay, a subsidiary of the credit company Direct Credit Center, owned by M.Video-Eldorado since 2021, will grant loans. In 2023, 85 billion rubles were issued through Direct Credit for the purchase of equipment in the chain’s stores, which accounted for about 16% of all group sales. The company then ranked first among Russian retailers in terms of POS loan portfolio volume.

You can apply for a loan on the mobile application of chain stores by providing your passport details. The agreement to receive a microloan is signed via SMS and the money can be received directly on the card or in the credit and insurance departments of offline stores.

The company will take into account the client’s level of debt before granting a loan in accordance with the restrictions of the Central Bank. According to a representative of SRO “MiR”, which includes “DK Pay”, microfinance organizations can provide loans at any rate below the permissible rate, and the exact rate for each client will be calculated individually after scoring.

The maximum interest rate for a loan for up to one year is limited by law and is 0.8% per day or 292% per year. The upper limit of the PSC is calculated quarterly by the Central Bank. For unsecured microcredits for amounts up to 100 thousand, this figure is 292% since November 15.