According to the results of a 2023 survey commissioned by OTP Bank, almost half of the respondents would take out a loan if they were unable to cover a planned expense from their own resources, a significant drop of more than 10% compared to the 2022 survey. However, there is no change in the target for borrowing.

Most people would spend the money on buying a car, followed by renovating a home, then buying a household appliance. Although the car is still the top item on the list, the proportion of people who have put off investing in it this year has risen significantly compared to last year.

The caution and prudence are also reflected in the fact that, proportionally, most people would think carefully about taking out a loan and would, for example, only take out a personal loan for things they really need. Another change compared with the previous year is that 23 out of 100 people, or 3% fewer than in the previous year, said they would be able to finance an unexpected major expenditure from their own savings.

"With OTP Bank's solutions and thoughtful, conscious borrowing, major plans can be realized and unexpected situations are not insurmountable. The results of the recent survey show that 47% of respondents have already taken out a personal loan at least once, which is higher than a year ago, if only by 1%, meaning that many people continue to choose this type of loan when they need additional funds that can be used freely", says István Szabó, head of business development of retail loan products at OTP Bank.

The proportion of people who would turn to family members and friends for financial help has fallen slightly in a year, with personal loans coming in second place with a 1% increase, ahead of taking on extra work. Respondents who are determined to take out a loan are the most likely to use a loan to cover a quarter of the cost of a planned investment or purchase.