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Don't go overboard taking loans just because the lender is generous

While NBFCs are increasingly willing to lend to below-prime borrowers, the latter should remember that failure to repay can have dire consequences

Sanjay Kumar Singh  |  New Delhi 

The economic slowdown has taken a toll on the growth rates of secured loan segments, such as home loan, loan against property, and car loan. Credit card borrowings and personal loans are still growing at a robust pace as people turn to them increasingly for emergencies and sometimes even to fund discretionary purchases.

An interesting trend that a recent report from TransUnion CIBIL highlights is that lenders, especially non-banking finance companies (NBFCs), have started lending more aggressively to below-prime borrowers. In the second quarter of 2019, credit-card outstanding balances ...

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First Published: Fri, November 01 2019. 14:35 IST
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