Gen Z Credit Use Grows as Repayment Struggles Continue

More young people are getting access to loans and credit.

In 2024, about one in seven people aged 18 to 25 had credit.

Three years earlier, the figure was about one in eleven.

Young borrowers often use credit to buy appliances, motorcycles, and items with credit cards.

The government wants banks to build relationships with young customers from school or college through their careers.

A campaign called “Banking for Youth” will begin on October 2 and last for a month.

However, Gen Z has the highest rate of late payments among age groups.

This raises questions about whether the campaign will also help young people repay what they borrow.