Italians keep asking personal loans, but to cope with the increase in installments they reduce the amount. This is one of the data that emerged from the joint observatory of Facile.it and Prestiti.it.
In May theaverage amount requested from credit companies for a personal loan amounted to 10.474 euros, the resulting value down by 4% compared to the same month of 2022. I rates instead they are increased significantly reaching +31% if compared with those of twelve months before when, for a personal loan of 10.000 euros over 5 years they were equal to 6,28%, in May 2023 the average online rate (TAN) reached 8,24 %.
There are savings opportunities among credit companies
"Interest rates have risen, but the competition between lenders creates interesting savings opportunities for consumers who want to apply for a personal loan without paying more than they should", he explains Aligi Scotti, BU Director loans of Facile.it. The analysis - carried out on a sample of over 35.000 personal loan applications collected online - showed that the first reason why a personal loan is requested is theliquidity requirement, a purpose indicated in May 2023 by almost 1 out of 3 applicants (32%). This is followed, in percentage terms, by personal loan requests for the purchase of used cars (16%) and those for debt consolidation (15%).
The most popular loans for holidays and health care. Those for weddings are down
"The drop in the request for liquidity loans (-4%) and the increase in debt consolidation (+6%) tell of a greater awareness in the relationship between Italians and the world of consumer credit", explains Aligi Scotti. "Consolidating debts means merging several loans under a single loan, thus simplifying their management and, in some cases, reducing overall costs, a strategy that can help families to lighten the burden of loans on the family budget".
The percentage weight of loan applications for lenders is increasing holidays, which grew by 3% over last year, and of those for medical expenses (+7%). After the boom of 2022, on the other hand, requests for personal loans drop weddings (-7%).
