Expert: significant growth can be seen on the personal loans market

Low interest rates have seen significant growth in the personal loans market for years – Trencsán Erika, financial expert of money.hu told M1 news channel.

Over the past period, personal loans have increased by up to 20-30 percent annually, and their interest rates have fallen from an average of 20 percent to 14 percent since 2017, she explained.

She noted that there is a big difference in interest rates between bank offerings: 7-8 percent and 20-22 percent in the personal loans market. (MTI)