KYIV, Oct 21 – Only 15% of banks correctly calculate the real annual interest rate for consumer loans, according to a study on consumer lending: high rates, low compliance sector conducted in April-July this year within the framework of the USAID Financial Sector Transformation project.

According to the study, the real annual interest rate was higher than that specified in the contract in 57% of cases, and the calculation confirmed the error in the calculations in the amount of 1% per annum in 28% of cases.