On average, borrowing is almost a quarter higher than in Saxony. Generally, loans in the east of the republic are lower than in the west, as a study by the comparison portal Cebuane shows.
Do not be afraid of higher loan amounts in the south
The citizens received an average of 11,812 euros last year when they took out a loan. The loans taken out in neighboring Bavaria are only marginally lower, averaging 11,782 euros. However, life here is also considered to be particularly expensive, so this is less likely to surprise than the relatively high credit of the supposedly frugal Swabians. Maybe that’s exactly what honors their reputation – after all, borrowing has never been so good. The third-highest loans are taken up in Hesse, on average, the amount borrowed in 2015 was here at 11,788 euros. North Rhine-Westphalia (11,674 euros) and Hamburg (11,331 euros) are also above the national average of 11,302 euros.
Significant east-west divide in borrowing
It is noticeable that the borrowing amounts taken in the eastern German federal states are significantly lower. The smallest loans nationwide are taken in Saxony with an average of 9,529 euros. In Thuringia (9,852 euros) and Mecklenburg-Vorpommern (9,969 euros) loans are on average not much higher. In Saxony-Anhalt, although the 10,000-euro mark is broken, with an average loan amount of 10,229 euros, the country is still in the Bundesliga ranking on the fourth last place. This distribution is not astonishing – it corresponds to the distribution of net incomes. And, as before, the income level in the eastern German states is below that of the West German. The people of Baden-Wuerttemberg raise loans by 24 percent more than the inhabitants of Saxony – they also earn on average about a quarter more. And those who earn a lot can easily afford higher credit installments. From this point of view, it is unsurprising that the highest loans are taken in the economically strong South.
The top 5 German cities in the credit ranking:
- Munich: 13,158 euros Ø loan amount
- Frankfurt am Main: 12,729 euros Ø loan amount
- Duisburg: 12,538 euros Ø loan amount
- Dusseldorf: 12,324 euros Ø loan amount
- Stuttgart: 12.246 euros Ø loan amount
Men’s loans are one fifth higher than women’s
And yet another cliché is invalidated by the study: Contrary to rumors, it is not the women who like to spend money, but rather the men. At least, the borrowing of men on average falls by just under a fifth higher. On average, women made loans of 9,092 euros in the past year and 10,826 euros for men. Again, the level of income could play a role again. On average men were 530 euros more available than women.
For couples, a common borrowing pays off in the rule. This not only allows for higher amounts of credit – on average, couples averaged € 14,823, 44 percent more loans than individuals with € 10,291. At the same time, they were given better terms due to the greater collateral: the average annual borrowing rate was on average nine percent lower than the interest rate granted to individuals on the same loan amount.