People prefer online loans – up to 50% of people are looking for quick and easy loans that can be settled over the Internet
According to a recently released press release of Lender bank, simple online loans have become increasingly popular recently. While classic consumer credit applications tend to decline, simple internet loans are growing more than expected.
Borrowing money over the Internet is becoming more common
According to recent surveys, not only how much they can borrow and what interest they will pay is important for the borrower. For more than 50% of those considering or recently applying for a loan, the speed of the settlement is also a determining factor.
Another equally important factor for deciding where to take credit is simple and transparent conditions. People are afraid of all sorts of credit frauds, and so most of the money seekers prefer reliable and reputable bank loans, and especially those where they get clear and clear terms without hidden fees.
Households with income of 20 – 30 thousand dollars borrow most
According to published surveys, households whose incomes range between USD 20,000 and 30,000 per month, currently borrow the most. The greatest interest in bank loans is in the spring, when people very often borrow for the reconstruction of houses or flats. Another important period is before Christmas, when people finance their Christmas purchases from loans.
The average amount of such loans is around USD 100,000. More and more loans are then handled wholly or at least partially via the Internet. It is common for most people to find all the information they need on the Internet today. Many online loan comparators and other financial products make it very easy to get all the essential information online.
Many people also prefer the ability to deal online through the internet to save time. Some banks can then arrange a loan without a personal visit. The loan applicant fills in all the necessary data via the Internet. If approved, the bank will then send the necessary documents by courier or by post. And the client signs the contract and sends it to the bank together with the documents required by the bank. And in a few days he already has money in his bank account.
People’s household debt is one of the smallest in Europe
Although the debt of people’s households has been growing at a very high rate in recent years, it is still one of the lowest in Europe. The average household debt in Europe is now around 44% of GDP. However, it is only 28%.
Mortgages and housing loans have the largest share of this debt. The share of these debts in total debt is also steadily increasing. This shows that people’s households are in debt with wisdom. Rather than for consumption, they use borrowed money for things of more lasting value, such as their own housing.