Millward, commissioned by General Bank, conducted a survey in which he checked where and how Poles borrow. The vast majority of respondents prefer to borrow from banks. This is largely due to the trust that Poles place in them, but also to the much lower cost of bank loans compared to other solutions – such as private loans or payday loans in non-bank institutions.
Every third Pole with a loan
As many as 33% of Poles have a cash loan or installment loan. 13% of us have mortgages, they are mainly people on so-called achievements, i.e. from 25 to 45 years of age. Poles are much less interested in borrowing from their employer, friends or payday loans.
Statistics relating to payday loans differ significantly from the data provided by the non-banking sector, for obvious reasons banks discredit loans without BIK, and the payday loan industry overstates their importance.
Over half of Poles have made financial commitments
It can certainly be said that payday loans were taken by at least a dozen thousand people. Only 40% of us belong to the lucky ones who have no obligations to pay.
The survey was conducted among adult Poles on a random representative group.
Commitment by Poles
The study proves that the position of banks is still safe , and among the bank offer, bank loans enjoy unflagging popularity. This is largely due to their attractive interest rate, often below 10%, which is undoubtedly affected by low-interest rates. Attractive loan offers can be found in our cash loan ranking.
Banks also promote safer forms of money lending, which are loans secured by real estate or cars. 16% of Poles chose these forms of financing. Despite the high popularity of banks, payday loan companies have nothing to complain about because their segment is growing at a very fast pace.
Despite the extensive offer of the financial sector, Poles still do not avoid less formal solutions, such as loans at the workplace or from friends.