Dublin: The Banking & Payments Federation Ireland (BPFI) has reported a significant rise in personal lending, with over 17,000 car loans drawn down in Q3 2024—a 14% increase year-on-year. The total value of these loans grew by over 20% to €229 million, with the average car loan rising to €13,434, reflecting a shift towards electric and hybrid vehicles.
Home improvement loans also surged, up 12.3% to 16,194 loans valued at €204 million, with an average loan amount of €12,606.
Overall, personal loan values reached a record €670 million, while the average green loan hit an all-time high of over €24,000.
BPFI CEO Brian Hayes highlighted the growth in green loans, supported by the government’s Home Energy Upgrade Loan Scheme, which is expected to further boost the sector.
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