Nizhny Novgorod residents have taken out loans totaling 309.8 billion rubles since the beginning of the year.

      11 November 2025 14:36 Economics

      Residents of the Nizhny Novgorod region continue to save more actively than they borrow. After nine months of 2025, the volume of deposits in the region's banks (excluding escrow accounts) rose 10.9% since the start of the year and reached almost 1.2 trillion rubles. Compared with the same date last year, the increase was 19.7%.

      According to the press service of the Volga‑Vyatka Main Directorate of the Bank of Russia, almost the entire amount of savings is in ruble deposits — 97.1%, or just over 1.1 trillion rubles.

      Against this backdrop, the pace of retail lending has fallen noticeably. From January through September 2025 banks issued 309.8 billion rubles to residents of the region, which is 25.3% less than in the same period of 2024. Of these, 266.8 billion rubles were consumer loans and another 43 billion rubles were mortgages.

      The total volume of credit obligations of Nizhny Novgorod residents as of October 1 amounted to 608.7 billion rubles. This is 0.5% more than at the beginning of the year, but 4.2% less than a year ago. The bulk of the debt consists of mortgage loans — 311.9 billion rubles. Consumer loans account for 296.8 billion rubles.

      Experts attribute this dynamic to the high key rate set by the Bank of Russia. It makes loans less accessible due to rising interest rates, but at the same time makes deposit terms more attractive.

      It was previously reported that Nizhny Novgorod residents spend on average 56.9% of their income on monthly mortgage payments.

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