Personal loans growing in 2017: Italian families are in crisis.

The results of the first half of 2017 compared to the personal loans requested (and disbursed) from households are continuously increasing. Increase not only in the number of requests, but also in the average amount. Specifically, there was a + 1.5% compared to the corresponding period of 2016, while the average amount increased by + 6.5%.

Based on the data collected by EURISC, the CRIF Credit Information System, confirming the figures of the first part of 2017, there is the performance of June, characterized by a further increase in requests for financing, equal to +2, 4% compared to 2016 and the confirmation of the growth of the average amounts, which are around $ 9,234, or + 7.8%.

Personal Loans to families in continuous growth: + 6.2% in the first months of 2017

Personal Loans to families in continuous growth: + 6.2% in the first months of 2017

 

During the first half of 2017, the personal loans sector above all recorded a significant increase, in fact it rose by + 4.0%. On the contrary, there was a slight decrease (-0.6%) in loans aimed at the purchase of goods and services. On the other hand, in June 2017, requests for personal loans grew by + 6.2% while those for finalized loans decreased by -0.8%.

The average amount of personal loans growing: + 7.8% in 2017

The average amount of personal loans growing: + 7.8% in 2017

 

In the first six months of 2017, the average amount requested also increased, reaching $ 9178, + 6.5% compared to 2016. In June alone it recorded a + 7.8%.

Furthermore, as regards the amount bracket, in the first half of the year, the Crif report records the following division:

  • 45.5% of the personal loans requested are less than $ 5,000;
  • 20.2% is in the range between 5,000 and 10,000 USD;
  • 22.8% in the class between 10,000 and 20,000 USD.

Over 5 years: the average duration of personal loans

Over 5 years: the average duration of personal loans

 

In the first half, the highest number of requests was over 5 years, with a share equal to 25.1% of the total, with + 1.8% compared to the same period of 2016. Instead, a shorter duration emerges, less to 12 months.

Also for finalized loans, there is an extension of the maturities since they are increasingly directed in the duration of more than 5 years (44.0% of the total).

Personal Loans: the average age of the applicants

As for the distribution of applications with respect to the age of the applicant, the latest update of the Crif Barometer highlights how in the first half of 2017 the band between 45 and 54 years is the prevailing one (25.6%), followed by that between 35 and 44 years old, with 23.7%.

However, a growth of + 0.7% compared to 2016 emerges from requests by classes over 55 years of age.

As regards the finalized loans, requested above all for the purchase of cars, motorcycles or consumer electronics, a growth of 1% emerges from the segment of consumers with more than 55 years.

 

 

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