Value of personal loans issued hits record high in 2024 

Value of car loans alone increased by 20% to 66,207, new data shows

The number of personal loans drawn down increased by 13% to 229,423 compared to 2023. 

Drawdowns of personal loans hit a record high of €2.5bn during last year, with the value of car loans increasing by 20% alone, new data from the Banking and Payments Federation, Ireland (BPFI) shows.

Overall, the number of personal loans which were drawn down increased by 13% to 229,423 compared to 2023, while the combined value of these loans rose by 21.6%.