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More People Taking out Smaller Loans

Banking

More people are taking out loans, even for small amounts, since they can apply for a bank loan quickly and easily online, even from a mobile phone, outside of bank opening hours if needed, according to data from K&H Bank, writes business daily Világgazdaság.

The vast majority of the financial profession expects an increase in personal loans, but in their opinion, the growth will probably remain below 10%.

The number of personal loan contracts was around 300,000 in 2019, which decreased to 220,000 in 2022.

Although the number of loan applicants may creep back to 2022's level this year, the loan amounts will certainly not reach the previous level, experts say.

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