Demand for consumer credit will remain stable over the next twelve months. This is the forecast of the current consumer credit index (KKI), which is determined by the banking association as part of a survey of around 1,700 private households.
Consumer credit index recovers compared to last year
The Bankenfachverband uses the results of the survey to create the consumer credit index: a point value between 75 and 125 indicates that credit use will remain the same in the future, less than 75 points symbolize a declining interest in credit and more than 125 points mean that demand is likely to increase. The current value of 98 points is therefore an indication that lending will continue at the current level. A year ago, the index was significantly lower at 78 points.
Fewer acquisition plans, greater willingness to borrow
The survey shows a slight decline in purchase plans. However, this trend is countered by an increasing willingness to finance the planned investments with a loan.
The reluctance to buy is most noticeable for consumer electronics with 56 points and for cars with 70 points, with the financing planning for consumer electronics showing a clear upward trend with a level of 155 points and an increase of 21 points compared to the previous year. The plans to take out a loan for large household appliances (174 points) and other purchases (191 points) are even more pronounced.
Credit-financed purchases support the economy
All in all, managing director Jens Loa from the banking association not only sees a clear recovery on the financing market, but also emphasizes the importance of consumer credit for economic growth: “Particularly in times of reluctance to buy, financing offers are essential to boost the economy.”
Interest savings through credit comparison relieves consumers
In order to keep the credit costs as low as possible, it is advisable to compare the financing providers. With the Verivox loan comparison, consumers can quickly filter out the cheapest provider with just a few entries and clicks.
“Due to persistently high inflation, the financial reserves in many households have become scarcer. Anyone who chooses a bank with favorable conditions for their financing project saves real money. Small differences in interest rates often result in savings of several hundred euros,” explains Oliver Maier, Managing Director of Verivox Financial comparison GmbH.
2023-08-21 22:37:21
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