Banco Bilbao Vizcaya Argentaria S A : Today’s number is about… loans

According to data from Rastreator, published by Europa Press, 36.3% of loans in Spain are requested during the spring, while only 12.9% of the total number of loans are applied for in winter.

In terms of specific periods of the year, March is the month with the most loan applications (13.97%), followed by May (12.02%) and September (10.6%). On the other hand, January (3.83%), December (4.15%) and February (4.93%) have the least applications.

Car purchases continue to be the main reason that Spaniardsseek financing. Three out of every 10 loans in 2016 were to buy a car.

However, the different months are associated with different reasons for the loans. March is a key month for investment loans (16.2% of the year), while July and August make up 27% of all loans for travel for the entire year. In September, loans to finance education increase (17.8%).

People living in big cities are much more likely to request financing. Infact, three in 10 loan applications come from Madrid (15.4%) and Barcelona(14.8%). Meanwhile, smaller cities like Soria, Melilla and Teruel represent justover 0.3% of the total.

In terms of the purpose of the loans, in cities like Barcelona or Madrid, they are generally used to purchase a car or remodel a home. Madrid tops the list of loan applications for education and travel. At the other end of the spectrum, Ceuta and Zamora are the cities with the least loan applications for travel, while Segovia has the lowest number of loan applications for education.