Once upon a time in the Soviet Union, citizens had the opportunity to become clients of only one bank - the Savings Bank, where they could open a savings account and a book, take out a loan. Today you can become a client of several banks, receiving any service: execution and servicing of plastic cards; mortgage, targeted and consumer loans; current and deposit accounts, etc. Banks are fighting for customers, promising bonuses and discounts to those who turn to them constantly, but how profitable is it for the customers themselves?
Loyal customer - benefit for the bank
Increasingly, you can hear about special conditions and bonuses that banks offer their regular customers, these include those who receive a salary on the card of this bank or those who have an existing or recently closed loan and a positive credit history. It is clear that customer loyalty, which increases the size of the average check and the frequency of banking services, is beneficial to banks.
There is the so-called Pareto law, which determines that 80% of the profits are brought to the bank by 20% of clients. These include not large depositors at all, namely, regular customers who are loyal to the bank and attract new customers from relatives and acquaintances through their positive feedback. Studies carried out by financiers say that the cost of services for a client applying to the bank for the first time reduces the bank's projected profit by 1.8%, while a regular customer who participates in loyalty programs increases it by 3.8%.
For "payroll" clients, as well as those who have opened a deposit or have a positive credit history, many banks have special conditions for mortgage lending.
Is loyalty to the bank beneficial to its customers
Recently, many Russian banks have begun to provide permanent clients with privileges and benefits, both material and emotional. The first include a decrease in interest rates in the process of obtaining and paying for a loan, gifts and bonuses in the form of coupons and discounts from the bank's partners. The second includes privileged service, free gold and platinum cards, tickets to prestigious social events, etc.
When choosing the most favorable credit terms, ask the bank about the available programs and special conditions provided for regular customers.
In some banks, customers who have received a loan are provided with a bank card with an open overdraft for a period of 1 year free of charge. The amount of the overdraft depends on the type of loan and is usually up to 5% of the mortgage loan amount and up to 10% of the car loan amount. There are banks where credit holidays for a period of up to 2 months are provided for regular customers who do not have delays or arrears, or they reduce the loan rate by 1% every 12 months for those who have no delinquencies and paid for the life insurance program when receiving a loan and the health of borrowers. If the bank has accredited partners-realtors or developers, applying for a mortgage, a regular client can also receive a discount to the interest rate.
