Loans contracted in past 10 years deprive Romanians from joys of life (study)

The crediting products are "a deprivation from the joys of life" says one of the Romanians who have contracted a loan - be it mortgage, mortgage or personal loan - in the past 10 years, a research carried by a specialised company reveals on Thursday.

Photo credit: (c) Cristian NISTOR / AGERPRES ARCHIVE

According to the research, those who have contracted such loans are aware that they are an aid no one else could have ever offered or a solution quite rapid to a problem to be solved.

"Yet, this doesn't hinder the customers to perceive the bank as an entity which takes over their life: due to the big costs they should pay monthly for many years, the small moments of joy and spoiling fade away, and are replaced by stress, worries and often frustration," the research carried by Exact Research and Consultancy (Exact Cercetare si Consultanta) says.

The participants in the research manifested dissatisfaction as regards their relation with the bank they have contracted the loan from: bureaucracy (they ask for documents whose release could last days), crowding (the queues at the banks' offices), the lack of transparency (a communication centered on the client's benefits, without mentioning all contractual conditions and the full list of fees).

Even if apparently the banks are racing in offering attractive banking products, many of the participants in the research were hampered as possibility of choice from various reasons ? either the client met the accessing criteria in only 1-2 banks case, or the building was in the administration of one single bank. So, in certain cases, only one bank could meet the customers' needs.

The target of the research was represented by women and men aged between 25 ? 40 years old who hold at least...