More surprisingly, a number of women aged above 50 are taking personal loans for cosmetic and plastic surgeries. This is the age when people need face lifts and makeover to retain their old charm and glory, says cosmetic surgeon, David parker. According to him, 43% of his customers are aged above 50 and out of that 67% are females. So, gender divide is very prominent in case of personal loans and the reasons for which they are taken.
The following are some more interesting facts regarding personal loans:
The percentage of women taking personal loans is far greater than men
The Brit women owe over £20 billion as unsecured personal loans
Debt consolidation is still the most popular reason for availing personal loans for men
Men take more personal loans to buy cars and boats than women
Personal loans taken for home improvements record highest in the spring season
Personal loans are taken for different purposes by men and women. The basic nature and different psychological needs are the major reasons for this divide. It has also been observed that those in the age bracket of 30 to 35 years are the ones who take most of the unsecured personal loans. However, the worrying factor is that most borrowers in this age group defaults a lot, reveals the latest survey conducted by another financial provider.
The concept of personal loans attracts a lot of borrowers towards it. The term in itself is very borrower friendly. It is self explanatory and masses can relate to it well. The reason for the difference in its usage by men and women in different ways lies in the difference of needs, psyches and natures of the two genders.
The author is a business writer specializing in finance and credit products and has written authoritative articles about unsecured loan, personal loans etc. He has done his masters in business administration and is currently assisting Go4UKLoans as a finance specialist.
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Source: http://www.articlealley.com/article_155554_19.html
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