The survey was conducted on a group of people who borrowed money in a bank, from a family or in a loan company in 2016, using the CAWI method, ie an online survey on a representative sample of 1,021 Poles aged 24-65.
Women (57%) and residents of larger cities (23%) borrow more often. The average loan amount in 2016 was almost $ 11,000 dollars The bank is the most visited place where Poles are looking for extra cash. The percentage of people who chose the bank was the highest in the 45-54 age group (63%). In turn, young people between 24 and 34 years of age usually borrow from the family (36%)
Where do we borrow and how do we compare offers?
According to the study, the bank is the place that Poles most often indicated. Six out of ten respondents said they were asking for extra money there. Later, we seek support from family and loved ones – 28%. According 15% of respondents used the services of a loan company.
Poles were asked if they were comparing loan offers with each other. The survey showed that almost half, because 49% of not do it at all, 30% compare three or more offers, and 21% usually put together two loan proposals. It turns out that the main source of information about offers for Poles are: comparison websites (35%) and websites (27%).
We sign a contract at the bank more often than we do it through the network – every second customer of the bank submitted an application and signed the contract personally at the branch, and every fifth used the online form. However, in the case of loan companies, the situation was the opposite – 49% of applications were submitted electronically.
Among financial institutions, banks invariably enjoy the greatest trust of Poles, and we often turn to them for additional funds. The survey shows that consumers’ knowledge of credit offers comes mainly from two sources: comparison websites and websites. In practice, this means that in order to compare loan offers, we have solutions that allow us only to learn about marketing proposals, not offers tailored to our individual needs.
When choosing a loan, Poles are guided primarily by:
- low costs – fees, commissions, interest rate (27%)
- low installment (21%)
- minimum formalities (20%)
- the speed of getting money (19%)
The answers in this matter were influenced by the place where Poles took out a loan. People who turned to the bank for additional funds turned out to be the key to knowing the institution beforehand – “the bank I use services” – 37%, and then low costs – 15%. Respondents who decided to offer loan companies as the most important indicated: the speed of obtaining money (26%) and low costs (19%).
What do we use the borrowed money for?
We spend extra money mainly on renovating the apartment (24%) and daily expenses (22%). Every tenth borrower allocates borrowed funds to buy a car (11%).