Investigating the effect of people’s personality and religiosity on their behavior in obtaining loans

Purpose This study examines the influence of personality and religiosity on loan acquisition behavior. Religion, as a system of values and norms, can significantly impact human social life. Religiosity influences and is influenced by perception, cognitive processes, emotions, motor behavior and relationships between a person and ideals (psychological totality). Therefore, the main purpose of this research paper is to investigate the effects of people’s personality and religiosity on their behavior in obtaining loans. Design/methodology/approach This is a practical and quantitative study with a sample size of 441 participants. A custom-designed questionnaire was used to measure religiosity and loan acquisition, while the HEXACO short personality questionnaire was used to measure personality traits. Participants were divided into four behavioral groups, and logistic regression was used for data analysis. Findings The results showed that in the present study, people who are honest and truly believe in their revealed preferences and received a Qarz Al-hasanah loan have more prominent personality dimensions of “honesty, humility and extroversion.” Also, people who are honest and truly believe in their revealed preferences that received a noncredit loan have the “excitability” trait. People with false claims that received a Qarz Al-hasanah loan have the “adaptability” trait and people who provided false information and received a noncredit loan indicate the trait of “openness to experience.” Research limitations/implications Future studies should compare different occupations, age groups, genders and income groups separately, as social views may differ. Practical implications Personality traits have a significant impact on people’s claimed knowledge of Islamic finance and their actual preferences. Honesty and modesty are particularly prominent in groups where claims are consistent with behavior, while irritability is significant in groups where claims are inconsistent with behavior. Originality/value The present study is interdisciplinary in the fields of Islamic sociology, social psychology and religiosity, which is innovative from this point of view. In addition, the results of the present study provide monetary and banking policymakers with a perspective for paying attention to the personality and religiosity of loan applicants. This study helps bank marketers pay more attention to understanding customer interests in terms of religious commitment and personality dimensions.