More Households in Debt in July 2022

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Vika Azkiya Dihni 22/08/2022 15:10 WIB

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In July 2022, 10.3% of households reported increasing their financing through debt/credit. This percentage is higher than the previous month's 8.9%.

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Percentage of Households Adding Debt

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Household demand for additional financing through loans or credit showed an increase in July 2022. This was revealed in Bank Indonesia's (BI) Banking Financing Supply and Demand Survey for July 2022.

BI recorded that 10.3% of respondents stated they had increased financing through loans/credit in July 2022. This percentage is higher than the previous month's 8.9%.

Meanwhile, 89.7% of respondents stated they did not increase their loans/credit in July 2022, lower than the 91.1% in the previous month.

The majority of financing sources used by respondents came from commercial banks, with a percentage of 37.4% in July 2022, lower than 37.9% in the previous month.

Other alternative financing sources used by households to meet their financing needs include cooperatives, leasing companies, and friends, with respondent shares of 19.8%, 19.3%, and 9.1%, respectively.

Based on the type of use, the majority of financing requested by households was Multi-Purpose Loans (KMG) with a share of 41.3% of total financing applications.

Other types of financing requested by respondents include Motor Vehicle Loans (KKB) 25.1%, Home Ownership Loans (KPR) 14.2%, household appliance loans 9%, and credit cards 5.9%.

Editor : Annissa Mutia

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."