About 50,000 personal loans were taken out in the first three months of the year, reports Breaking News.
The latest figures from the Banking and Payments Federation Ireland show that personal loans have increased by 28 per cent to 49,236.
The report noted that loans for the same period last year totalled 27%, up 8%, reports Breaking News.
The value of personal loans taken out increased by 25 per cent. up to EUR 481 million.
BPFI chief executive Brian Hayes said the report also highlights the rise in green debt.
“We’ve seen a doubling in terms of green loans. I think a lot of that is in terms of retro-fitting, the area of electric hybrid cars. Typically, a green loan is double what it would be for a normal personal loan. A green loan averages at about €22,000 across the sector, where other categories it’s about €10,000,” he said, reports Breaking News.
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