Study On The Demand For Loans Between Which Ages Are More Applications Made?

June 27, 2019 0 Comment

In the last study we conducted on consumer loans, we draw interesting conclusions. So if you are interested in knowing between which ages more loan applications are made , it is the topic that we will address in today’s article. You will not believe it!


At what age range are more loans requested?

At what age range are more loans requested?

First, young people under 24 are the least indebted. Generally, it is a profile that is still finishing its studies and is beginning in the labor market; So you don’t tend to need a loan.

In figures, we could say that 1 in 10 young people between the ages of 18 and 24 apply for a small loan (microcredit type). However, in the case of people over 55, 1 in 3 apply for a loan.

It can be extracted that, the higher the income, the more common it is to resort to a loan.

However, these data that we tell you come from 2017 and, as the years go by, the loans are booming. What does this mean? That more and more loans are requested “for everything”.

That is, if years ago they were only asking for purchases or important services (going to the University, making a Master’s degree, buying a car, a ticket for a flat …) now more and more people (especially young people under 40 years) who opt for a loan to go on a trip, buy a smartphone, etc. In short, for whims, things that perhaps are not essential.


Fast online loans are booming

Fast online loans are booming

Young people, when requesting an extra amount of money generally resort to this financial product. They tend to apply for quick loans whose processing is online; to meet any economic need. In addition, they are usually of a small amount.


Profile of people requesting an urgent loan

requesting an urgent loan

More than half of the people who ask for an urgent loan are between 30 and 40 years old . It is a curious fact; which confirms that at these ages it is more common for unforeseen events that lead us to have to pay money immediately. Some of the most common examples could be the breakdown of a car, the spill in a house, etc.


So … at what ages are more requests made?

loan request

It depends on the type of loan. However, we could say that between 30 and 40 years more applications are received.

However, as we say, online loans are a booming financial product, due to how comfortable and accessible it is. So more and more young people decide to hire them, given the facilities that exist.


Do you want to ask for a loan? Do it through our credit simulator

Do you want to ask for a loan? Do it through our credit simulator

At Maxx Blaggart we have a loan tool where we search, compare and negotiate the best credit for you. Not only do we offer you a complete app to control expenses, but from the endtech world we want you to not miss anything and can request, whenever you need it, extra money.

To do this, based on your FinScore, you can request a certain amount of money ( up to 40,000 euros ) and with unbeatable conditions. So if you need extra money, no matter your age, just download the Maxx Blaggart app, connect your accounts and discover the best credit we have for you.

To get you the loan among our 10 entities we don’t need you to open any bank account, since we calculate your FinScore in just a few minutes. Forget about changing banks or opening new accounts with the entity that has granted you the financing, word Maxx Blaggart. ?

So in the case that you are interested in applying for a loan, do not hesitate to take a look at Maxx Blaggart’s credit simulator. We hope you find it useful!

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