Applying for financing in Italy costs more than in the other large ones European countries, but fortunately for consumers, something is changing. The data comes from the analysis carried out by Facile.it and Prestiti.it on Eurostat data, a survey which highlighted how, in November 2024, in Italy the average rate (APR) for consumption loans intended for families was equal to 10.24%, a value higher than both the European average (8.41%) and that found in other large states of the Old Continent. In Germany, for example, the index was equal to 8.49%, in Ireland 8.08%, in Spain (7.79%) and in France (6.72%).
Loans, bloodletting Italy
The good news, however, is that throughout Europe, including Italy, during 2024 rates have dropped. The cut in the cost of money by the ECB also had positive effects on the indices of consumer loans intended for families; in Italy, from January to November last year, the average rates (APR) applied to this type of financing decreased by 5%, going from 10.75% to 10.24%.
Rates in Europe
As mentioned, in nations such as Germany, Austria, Ireland, Spain, Belgium and Francea loan costs less than it does with us; extending the analysis to the 19 countries present in the ranking, Italy is positioned in seventh place; only Latvia (15.35%), Estonia (14.36%), Greece (12.14%), Slovakia (11.43%), Lithuania (11.16%) and Portugal (10.0%) have higher average APRs. 95%). At the bottom of the ranking – but in this case being at the bottom is a good thing – are Croatia (5.13%), Luxembourg (4.91%) and Malta (4.15%). For all of them rates halved compared to ours.
The numbers
According to the simulations of Facile.it, data in hand, on a loan from 10,000 euros in 5 years eissued in November 2024, in Italy average costs, including interest and ancillary expenses, amount to 2,819 euros; the Germans pay 2,307 euros, the Spanish 2,105 euros and the French 1,801 euros. Looking at the extremes of the ranking, we discover that for the same loan, the Latvians spend 4,384 euros in total costs, the Maltese just 1,090 euros.
