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Main reasons for taking out personal loans in the United Kingdom (UK) 2017

This statistic presents the results of a survey on the share of consumers who take out personal loans in the United Kingdom (UK) as of 2016, by main reasons behind their credit choice. Among respondents, 71 percent stated that they had chosen a particular personal loan because of it's interest rate or annual percentage rate (APR). 61 percent of respondents also agreed that repayment amounts were also a large factor when considering a personal loan.

Thinking back to when you first took out your personal loan, what were the important reasons for choosing it?

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Source

Release date

June 2018

Region

United Kingdom

Survey time period

2017

Number of respondents

231 respondents

Method of interview

Online survey

Supplementary notes

This question was phrased by the source as follows: "Thinking back to when you first took out your [selected product], what were the important reasons for choosing it?"

Multiple answers were possible.

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Statistics on "Consumer lending in the United Kingdom (UK)"

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