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Personal Loans in India
As at 31st March 2019, outstanding personal loans in India stood at INR22,207 billion, an increase of INR3,122 billion or 16.36% compares to INR19,085 billion in the same period a year ago. India is now becoming comparable in terms of spending patterns with the opening up of our economy. The Indian consumer is changing as reflected in the urban household income pattern. The outstanding personal loan in India has increase over 22 times in 15 years, compares to INR516.2 billion outstanding as at 31st March 2000.

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Personal Loans Statistics in India 2019

The outstanding personal loan of INR22,207 billion in India can be further broken down into:-

  • INR63 billion for Consumer Durables, a decrease of INR134 billion or 68.02% compares to INR197 billion in the same period a year ago.
  • INR11,601 billion for Housing, an increase of INR1,855 billion or 19.03% compares to INR9,746 billion in the same period a year ago.
  • INR829 billion for Advances against Fixed Deposits, an increase of INR104 billion or 14.34% compares to INR725 billion in the same period a year ago.
  • INR63 billion for Advances to Individuals against share & bond, an increase of INR7 billion or 12.50% compares to INR56 billion in the same period a year ago.
  • INR883 billion for Credit Card Outstanding, an increase of INR197 billion or 28.72% compares to INR686 billion in the same period a year ago.
  • INR680 billion for Education, a decrease of INR17 billion or 2.44% compares to INR697 billion in the same period a year ago.
  • INR2,022 billion for Vehicle Loans, an increase of INR124 billion or 6.53% compares to INR1,898 billion in the same period a year ago.
  • INR6,068 billion for Other Personal Loans, an increase of INR988 billion or 19.45% compares to INR5,080 billion in the same period a year ago.

Personal Loans Statistics in India 2018

As at 31st March 2018, outstanding personal loans in India stood at INR19,085 billion, an increase of INR2,885 billion or 17.81% compares to INR16,200 billion in the same period a year ago.

The outstanding personal loan of INR19,085 billion in India can be further broken down into:-

  • INR197 billion for Consumer Durables, a decrease of INR11 billion or 5.29% compares to INR208 billion in the same period a year ago.
  • INR9,746 billion for Housing, an increase of INR1,145 billion or 13.31% compares to INR8,601 billion in the same period a year ago.
  • INR725 billion for Advances against Fixed Deposits, an increase of INR64 billion or 9.68% compares to INR661 billion in the same period a year ago.
  • INR56 billion for Advances to Individuals against share & bond, an increase of INR8 billion or 16.67% compares to INR48 billion in the same period a year ago.
  • INR686 billion for Credit Card Outstanding, an increase of INR165 billion or 31.67% compares to INR521 billion in the same period a year ago.
  • INR697 billion for Education, a decrease of INR4 billion or 0.57% compares to INR701 billion in the same period a year ago.
  • INR1,898 billion for Vehicle Loans, an increase of INR193 billion or 11.32% compares to INR1,705 billion in the same period a year ago.
  • INR5,080 billion for Other Personal Loans, an increase of INR1,325 billion or 35.29% compares to INR3,755 billion in the same period a year ago.

Fierce Competitions

The retail banking consumers in India such as personal loans can only benefits from the fierce competitions amongst local private banks and foreign banks.
As such, we take the initiative to setup this section for you to quickly and easily compare cheapest personal loans online in India.
The maximum amount of personal loan depends on your monthly or yearly income. And loans are repayable in equal monthly installments or EMIs.
A personal loan or also known as an all-purpose loan, is meant to meet any kind of personal need or expense.
It helps you to take care of your immediate requirements without much hassle as no questions asked on purpose of the loan.

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