Brazilians ask for more and more loans: research shows the profile of these people and the main reasons
In the pandemic, the payroll loan, a modality in which the installments are deducted directly from the payroll, had a growth boom and, since then, has become a strong “ally” of Brazilians. According to the Central Bank, in December 2021, the financial product reached the amount of BRL 513.5 billion contracted, an increase of 14% compared to the previous year – the highest number recorded in this modality until the period.
A survey by iCred, a fintech from Sergipe that facilitates personal and payroll loans, showed that São Paulo leads the ranking of Brazilian states that most request loans online on the platform, with 35.37% of requests in the country. In second place is Rio de Janeiro, with 10.11% of requests, followed by Paraná in third place, with 8.56% of requests. Rio Grande do Sul (7.51%), Minas Gerais (7.35%) and Santa Catarina (6.58%) complete the list of the five states that most use this option.
Help when in trouble
Personal and payroll loans are some of the great solutions that Brazilians find in situations of need. Lately they have been more frequent; the number of defaulters reached the mark of 70.1 million in January 2023, according to a study by Serasa Experian — a historic growth record since 2018.
The application process has been modernized over the years, in accordance with the new tools launched to request the financial product quickly, conveniently and online.
“The facilities that technology provides make personal loans an easy option for many people. However, it is important to reiterate that it must be requested in case of necessity, not luxury. Personal financial health planning must take into account cases of debt or investments, so that the need to use credits does not become an annual routine”, emphasizes Túlio Matos, founding partner of iCred.
Professions that borrow the most
The Sergipe fintech survey also brought a current overview of the professions that most use the online loan service in Brazil. These are the positions that appear most in the register of applicants:
- 1. Internal seller
- 2. Administrative assistant
- 3. Helper
- 4. Clerk attendant
- 5. Administrative assistant
Regarding age, the age group of those who opted for this financial service in 2022 ranges from 24 to 39 years old, totaling more than 50% of requests.
“By crossing the customer profile with the demographic distribution of Caged and the IBGE age pyramid, there is a tendency for greater consumption of the product by this younger public, from the big metropolis, with less service time, being more taker and recurrent, seeking the autonomy and agility of Saque Aniversário”, comments the executive.
“Even if the rates for this anticipation are much lower than other financial products, it is still necessary to be cautious and have financial planning. It is worth evaluating your relationship with the employer and your prospects in the company. Consider taking out extra protection, in case there is a dismissal without just cause, to be able to benefit from unemployment protection insurance, which indemnifies the borrower and significantly minimizes the impact of compromising the balance with the loan”, concludes Matos.
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