We need to learn to close credit, not get it

Today, credit is becoming an integral part of our lives. Telephones, household appliances, weddings, even everyday needs are often covered by credit. The biggest problem is that a culture of borrowing is formed in our society, but the culture of proper loan repayment is not at the proper level.

Actually, credit is not a bad thing! When used correctly:

In today's difficult financial conditions, credit has become an important financial tool not only for individuals, but also for families and entrepreneurs. As a joint-stock commercial bank "Microcreditbank," we assess credit as a positive financial instrument, but consider its responsible and planned use as the highest priority.

Our bank, offering financial solutions to clients, focuses more on developing a culture of rational loan management and timely repayment than on obtaining a loan.

Credit is an opportunity, but also a responsibility

Credit, if directed correctly, yields positive results in the following areas:

• improvement of housing conditions,

• development of small business,

• purchase of necessary equipment or machinery,

• start of a profitable activity.

However, obtaining a loan solely to satisfy consumer needs or for reputation increases financial risks and the debt burden.

Main errors and their consequences

According to the analysis of our bank's experts, many clients make the following financial mistakes:

• Assessment of loan terms only by monthly payment;
• Not taking into account the total amount to be returned;
• Do not terminate old obligations before opening a new loan.
• These circumstances weaken the client's financial stability and increase interest expenses.

Timely loan repayment - the basis of financial stability

Microcreditbank believes that managing debt obligations is not just about making timely payments, but about creating a strategy for faster, more efficient, and lower-interest loan repayment.

When obtaining a loan, a financially literate client:

• conducts a full analysis of the total amount payable;
• monitors the extent to which its income is directed towards credit;
• explores early closure options.

This approach serves to quickly get out of debt and ensure financial freedom.

Microcreditbank recommends the following basic financial rules:

1. Ensuring that loan payments do not exceed 40% of income;

2. Obtaining a loan only for planned, justified purposes;

3. If possible, plan for partial or full early repayment of the loan;

4. Avoid managing multiple loans simultaneously;

5. Every decision must be made on the basis of calculation.

Joint-stock commercial bank "Microcreditbank" calls on its clients not to take more loans, but to learn to take a loan responsibly and pay it off wisely. The loan amount is not a sign of financial stability. In essence, the ability to manage your debts correctly and repay them on time is a criterion of true financial freedom.

Therefore, our bank is confident that:

"It is necessary to learn not to take out a loan, but to close it." Because financial freedom is measured not by the amount of debt, but by the ability to manage it.

Bank Information Service