DEBTORS' PERCEPTION OF INTEREST RATES CHARGED BY BANKS DURING THE COVID-19 PANDEMIC. CASE STUDY - DEBTORS FROM CĂLĂRAȘI COUNTY
Autor (i): Florentina Moisescu1 Nechita Daniela2 Răgălie Constanța3
Cuvinte cheie: interest, interest rate, bank loans, COVID-19, financial policies, banking system, debtors' perception.
Abstract:
The COVID-19 pandemic has had a strong impact on all states globally. As a result, many people who had ongoing loan agreements lost their jobs and became unable to pay their debts to banks. Noticing these problems in different markets, the banking units changed their strategy and offered debtors the opportunity not to pay the instalments for a certain period of time, until they obtained the financial resources they needed. All this has led in time to the change in interest rates charged to banks. The objective of this paper is to determine the debtors' perception of the facilities offered by banks during this period as well as the interest rates charged by them. In order to fulfil the purpose of this paper, we conducted a quantitative study among debtors in Calarasi County. The research took place between 26.05.2020 - 15.06.2020, on a sample of 140 respondents. A questionnaire was used to collect the data and was posted on online platform Marketing4Today, using the Drag & Drop Editor. The study found that some respondents are not satisfied with the interest rates charged by banks, considering that the facilities offered during the COVID-19 pandemic have the role of supporting their interests more and less those of borrowers. In addition, due to labour market problems, they expect to intensify credit policy measures which would automatically lead to a reduction in demand for credit.
The COVID-19 pandemic has had a strong impact on all states globally. As a result, many people who had ongoing loan agreements lost their jobs and became unable to pay their debts to banks. Noticing these problems in different markets, the banking units changed their strategy and offered debtors the opportunity not to pay the instalments for a certain period of time, until they obtained the financial resources they needed. All this has led in time to the change in interest rates charged to banks. The objective of this paper is to determine the debtors' perception of the facilities offered by banks during this period as well as the interest rates charged by them. In order to fulfil the purpose of this paper, we conducted a quantitative study among debtors in Calarasi County. The research took place between 26.05.2020 - 15.06.2020, on a sample of 140 respondents. A questionnaire was used to collect the data and was posted on online platform Marketing4Today, using the Drag & Drop Editor. The study found that some respondents are not satisfied with the interest rates charged by banks, considering that the facilities offered during the COVID-19 pandemic have the role of supporting their interests more and less those of borrowers. In addition, due to labour market problems, they expect to intensify credit policy measures which would automatically lead to a reduction in demand for credit.
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