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Due to higher interest rates in the recent year, Romanians grew more pragmatic and began to focus more on interest-free financing to purchase services and products required for a safer and more pleasant lifestyle. According to a tbi bank survey of 1,057 respondents across the country, more than 80% of Romanians would choose a Buy Now Pay Later financing solution with four interest-free installments to buy electronics and appliances to take advantage of lower financing costs in a delicate economic context.

More than 23% would use BNPL to travel on vacation, and nearly 18% would use it to receive quality medical treatments. Furthermore, 53% of respondents said they would prefer to accept numerous small loans for smaller items, to be reimbursed in interest-free installments, while just 21% would select a larger loan, to be repaid in interest-bearing installments.

”The consumers had to adapt in the last year to a more complex economic and social context. Higher interest rates represented a big problem for most of them, so they started to choose interest free financing, and BNPL is a great option in this regard. As usual, we adapted to their needs and offered to them more advantageous financing options, but especially BNPL, to help overcome a difficult situation that shows no signs of ending very soon”, Gergana Staykova, Market Leader, tbi bank, declared.

Regarding of how they find more advantageous to pay for a purchased product, more than 41% said they want to pay in four interest free installments, almost 36% would choose to fully pay in the first day, and 22,4% would choose to pay in more installments, but with 0 interest on the first four installments.

About 84% of the respondents said that BNPL allows them to buy products they would otherwise not be able to afford on the spot, and almost 70% consider it, in most cases, a trustful financing solution. 34.53% of respondents would need over 3000 lei through BNPL financing, and 22.42% would want a maximum of 1000 lei.

The tbi bank survey on Romanians' perception of the financing was conducted nationwide in August-September 2023 via the iVox platform, on a total sample of 1,057 internet users in Romania. Slightly more than 50% of the participants are women, little less than 75% are at most 45 years old and more than 87% live in urban areas.