Borrowers from South and Southeast Asia prefer short term financing in the range of $51-100

Recently, the financial holding Robocash Group found that the most popular amount borrowed by the Filipinos, Vietnamese, Indonesians and Indians for up to 30 days ranges from $51 to $100.

Based on its own data, Robocash Group compared the most popular loans sizes in four countries of South and Southeast Asia. The research involved the Philippines, Vietnam, Indonesia and India. According to it, the most preferred loans for up to 30 days in these countries range from $51 to $100. Among borrowers, 65.4% of Filipinos, 47.5% of Vietnamese, 61.2% of Indonesians and 71.3% of Indians apply for this amount to meet the urgent needs. This feature is common for all four countries.

The next most popular range in the Philippines (17.3%) and Vietnam (21.8%) is $101-150. However, in Indonesia and India, the picture is different. The second position there is taken by the loans of $1-50, which are borrowed by 37.6% of Indonesians and 20.7% of Indians. At the same time, in the Philippines and Vietnam, this amount ranks third in popularity and is borrowed by 11.9% and 18.4% respectively.     

According to the Analytical Centre of Robocash Group, $51-100 is usually enough for most borrowers in these countries to bridge the financial gap for urgent (renovation, medicines, food) or spontaneous (clothes, gadgets) needs. The choice of other loan amounts does not depend on the income difference in the countries, although it exceeds $150 according to the international ranking of average monthly salary. Thus, larger loans are more popular in the countries with lower income – for example, in the Philippines, which is the 77th in the ranking compared to India, which is the 61st. This is demonstrated by the loyalty of borrowers to the loan services of the group, which increases over time. In the Philippines and Vietnam, they were launched much earlier, whereas in India and Indonesia many borrowers just start using online loans as an effective financial instrument and apply for the minimum amounts more often.

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