63% of Bulgarians Have Taken Out Consumer Loans - Survey

Business » FINANCE | September 29, 2014, Monday // 17:49
Bulgaria: 63% of Bulgarians Have Taken Out Consumer Loans - Survey Photo by Sofia Photo Agency

63% of Bulgarians have taken out a consumer loan and half of them are ready to take out a new loan, according to a survey.

According to the survey, as cited by private TV station bTV and Sega daily, 37% of Bulgarians refrain from taking out loans because they fear that they will run up debts.

The most common monthly installment amounts to BGN 150-200, with most of the people allocating 10-20% of their incomes to settling the loan.

The purpose of the loan is usually related to repair works and furniture (24% of the loans), followed by current expenses, purchase of property without a mortgage, and purchase of a car.

The first consumer loan usually amounts to over BGN 24 000 and the second is usually up to BGN 3000.

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Tags: consumer loans, mortgage
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