In the last three months, the CreditoPessoal.pt credit platform has registered a significant increase of 137% in financing requests. The most requested credit is to pay general expenses.

The increased demand for consumer loans led to a 20% increase in traffic to the brand’s website. The number of customers who were able to obtain a loan almost tripled compared to the previous quarter.

As a result, the financing value of consumer credit increased by 180% in the period from April to June of this year.

This increase includes various types of consumer credit, such as auto loans, consolidated loans, and loans without a specific purpose.

More than 75% of loan applications are for unspecified expenses. In general, customers are looking for more cash for personal projects or to cover unexpected expenses in the budget. About 10.1% of applications are for paying off existing debt, with credit consolidation being a popular solution to improve financial standing and avoid over-indebtedness. The third most common purpose is auto loans, which account for 7.8% of applications. On a smaller scale, 6.4% of customers are seeking personal credit to work from home and just 0.3% are seeking vacation financing.

The profile of most customers reveals that many of them already have a mortgage. Around 39% of customers have a mortgage with the bank. With the high Euribor rate, this could be an indication of the need for additional funds to cover the costs of housing payments. In comparison, 14.6% of customers have a property that has already been paid for, 14.4% live in rented accommodation, while 31.7% live in family homes.