Ukrainians often choose installments to buy smartphones

Ukrainians are increasingly using installment plans to purchase goods, and one of the most popular categories is smartphones, according to Privatbank.

The press service of Privatbank reports that every month, clients of this state-owned bank spend more than 1.6 billion hryvnias on installment purchases, and almost a quarter of this amount is spent on smartphones.

Serhiy Makarenko, Head of Merchant Acquiring at PrivatBank, said that the average cost of goods purchased by customers under installment programs is just over UAH 13 thousand. At the same time, the total amount of loans under the bank's Payment by installments and Instant Installment programs is almost UAH 1.6 billion.

Interestingly, almost 23% of users of PrivatBank's online lending service choose installment plans to buy smartphones. About 9% of customers use installments to purchase laptops and other electronics, as well as computer equipment. Another 6% use installments to purchase large household appliances.

Privatbank's installment plan is available both on the websites and in stores of the largest Ukrainian retail chains selling appliances, mobile phones, clothing, footwear and other goods. Ukrainians use this opportunity to make convenient and affordable purchases of modern gadgets and technical innovations.