What are you using your personal loan for?

58 per cent of Aussie Home Loan customers are using personal loans to consolidate debts built up in credit cards and other loans according to research released by Aussie this week.

The average personal loan size is now about $20,000.

The research also revealed personal loans are popular for car purchases and travel.

Executive chairman John Symond said personal loans are regaining their popularity because consumers understand that credit cards or adding to the mortgage can be more expensive over the long term.

Source: The Adviser