Consumer and housing loans as well as credit cards – report results
In 2016, fewer loans up to PLN 50,000 were granted. PLN, more for higher amounts. The value of paid payday loans increased by 1.2% with a decrease in loans granted. The housing loan sector increased its number by 4.1 percent. and a value of 5.8 percent loans granted in the first half of the year. It should be added that the number of franc loans decreased by 21.5 thousand. up to 530 thousand accounts. Changes can be seen in the number of credit cards issued, a clear decline of -9.0 percent. For this, the debt increased by 4 percent. and the utilization of limits slightly increased to 37.8 percent.
Loan sector besieged by young people
In the first half of 2016, a strong increase in borrowers and loan accounts in BIK was observed. Online loan companies focus on serving young customers, because it is the group aged 18-24 that uses online loans. However, clients of loan companies are more likely to delay paying off their financial obligations. Such cases are much less in the banking sector, where customers pay back the amounts borrowed on time. Customers of loan companies pay for unexpected and daily expenses for extra money. In addition, the money is spent on housing repairs and the purchase of home appliances. Some clients of loan companies buy medicines for extra cash. Bank customers use the money from the loan to buy or renovate an apartment / house. Next came expenses related to the purchase of home appliances and unexpected financial costs. 19% respondents buy a car for a loan, and 11% respondents repay other financial liabilities with borrowed money. The BIK and BIG Infomonitor reports show that the main reasons for taking consumer loans and borrowings are the lack of money saved and insufficient income.
“Nowadays, using loan companies’ offer is something very natural. The development of the FinTech industry has a special impact on this. First of all, borrowers can check offers on specialist financial comparison websites, and secondly, the process of borrowing from bank-related institutions takes place without unnecessary formalities. All you have to do is complete the application on the company’s website, make a verification transfer, and after a positive decision, the money goes to your account at an express pace, “comments loan expert.