Hungarians are in debt
In January 2025, the domestic credit market reached a historic milestone: the average amount per contract of newly concluded personal loan contracts exceeded 3 million forints for the first time, according to the latest statistics from the Hungarian National Bank (MNB). The total value of the 23,800 contracts concluded in January was 74 billion forints, which means an average of 3.11 million forints – writes Index.
The average loan amount has been increasing continuously in recent years: in 2019 it was only 1.79 million forints, in 2023 it was 2.13 million, while in 2024 we were already at nearly 2.7 million forints. According to experts, the increase is the logical consequence of several mutually reinforcing factors:
Popular loan purposes such as buying a car or renovating a home have become significantly more expensive.
Real wages have been increasing for years, and the amount of credit available has also increased in parallel.
Banks are offering increasingly higher credit ceilings: 10–12 million forints is almost standard, but there are financial institutions where you can apply for up to 15 million.
“Hungarian households are becoming more and more courageous when taking out personal loans. The main drivers are price increases, higher incomes and simplified administration,”
Péter Gergely, financial expert at BiztosDöntés.hu, told Index.
Related news
Bankmonitor: More than 19,000 billion HUF is lying unsecured with Hungarians
According to MNB statistics, Hungarians held 19,236.1 billion forints in…
Read more >ESG questionnaire from July for companies requesting large loans
From 1 July 2025 a new ESG reporting obligation will…
Read more >Adjusted for inflation, household wealth has not grown as much
The median net wealth of Hungarian households rose to 30.6…
Read more >Related news
A new era in the global economy? – New challenges for our country
May 2025 brought an acceleration of change in the global…
Read more >This is how you can keep your hair and skin healthy during the approaching summer heatwave
Styling, dyeing and blow-drying can all weaken the internal structure…
Read more >New cycle, stable operation, unchanged direction – ÖRT management has received trust
The General Assembly of the Hungarian Self-Regulatory Advertising Board (ÖRT)…
Read more >