Page 3 - Personal Loans

Fintech personal loan disbursal up from 1.1 mn to 41.6 mn in 5 years: FACE

Similarly, the value of loans has increased from Rs 5,907 crore to Rs 40,845 crore during the same time

Tax savings: Give loan, not gift, to spouse to avoid income clubbing

Documentation of the loan agreement is crucial to avoid treatment as gift

Car loan rates, terms and processing fees explained in one table

If you are researching for a vehicle loan, here is one table you should consider

Personal loans segment sees resurgence post Covid: CRIF-DLAI report

Members of the Digital Lenders Association of India (DLAI) contributed 7.9 per cent and 19.8 per cent to originations value and volume respectively in FY23, it noted

Small ticket personal loans remain a concern for industry: Incred Finance

Incred Finance noted that its personal loans portfolio was in the regular personal loan segment, with an average ticket size being over Rs 2,00,000

Credit rules festive sales, 3 out of 4 products sold through no-cost EMIs

One out of four purchases made during the Great Indian Festival sales, which kicked off on October 8, were through EMI and three out of four products were sold on no-cost EMIs, said Amazon

Looming risk? Personal loan credit by banks, NBFCs nearly triples in 6 yrs

During the fiscal years 2017 to 2023, personal loan credit experienced robust growth of almost 1.5 times the overall credit growth observed in both Banks and Non-Banking Financial Companies (NBFCs).

Unsecured personal loans jumped 4-fold to Rs 13.3 trn from FY17 to FY23

Unsecured personal loans jumped more than four-fold to Rs 13.32 lakh crore as of March 2023 from Rs 4.26 lakh crore in March 2017, as per a report. Overall, the number of personal loans has almost tripled during this period to Rs 51.7 lakh crore, an analysis by Care Ratings revealed. This means the personal loan books of banks and non-banks almost grew 1.5 times between FY17 and FY23, and now constitutes 30.3 per cent of the overall credit of Rs 170.5 lakh crore as of March 2023, the report said. At the end of FY17, the amount was Rs 18.6 lakh crore, or 21.5 per cent of the overall loan book, it said. Of the total personal loans, unsecured loans jumped more than four-fold to Rs 13.32 lakh crore as of March 2023 from Rs 4.26 lakh crore in March 2017, according to the agency, recording a growth rate of 23 per cent in the final year over FY22, when it stood at Rs 10.81 lakh crore. It attributed the surge in numbers to deepening income crises, and pushing of credit by fintechs and the

Securitisation in personal loan segment may see temporary pause: ICRA

The sale of personal loan retail pools may see a temporary pause after the RBI's decision to increase the risk weights on unsecured asset classes of banks and non-banking financial companies (NBFCs) by 25 per cent, a report said. The sale of personal loan pools by NBFCs amounted to about Rs 1,150 crore in FY 2023 and had already crossed Rs 800 crore in H1 FY2024 (i.e. 4x of the volumes done in H1 FY2023), Icra said in a statement. Such transactions had picked up momentum, given the growing financing requirements for the NBFCs to meet the strong credit demand for consumer and personal loans in the country, coupled with the growing appetite for personal loan asset class by the banks that were purchasing these loan pools, it said. The rating agency expects the pace of personal loan sell-downs to taper at least in the near term, following the increase in capital requirements on such loans for the purchasing banks, which would, thereby, augment the costs for all parties. While ...

The rise and rise of personal loans

Higher risk weight will increase the cost of capital for such loans for lenders and discourage them to go overboard

New RBI norms to make personal loans costlier: Check rates of top lenders

A hike in risk weights may lead to higher interest rates and reduced access to credit for consumers as banks adjust lending practices to meet increased capital requirements

SBI can fend off rising risks In personal loans, says S&P Ratings

SBI's personal loans are growing faster than the rest of its portfolio. However, the bank's customer selection mitigates the associated risks

53% opt for personal loan even before 30, Bengaluru most credit healthy city

A whopping 53% of Indians took their first personal loan before reaching the age of 30, and 22% of the personal loan consumers were under the age of 25

Lenders prefer salaried individuals with steady income for personal loans

While more than 25% of salaried borrowers have an excellent credit score of 770 and above, only 14% of self-employed consumers have such strong credit score profiles

Paperless loans: HDFC Bank launches digital banking platform 'XpressWay'

XpressWay offers services like personal loans, business loans, car loans, home loans, loan on cards, credit card, savings accounts, service journeys and more

Growth in personal loans offering likely to remain muted for Paytm

Sources in the know said that the personal loans book may grow in the range of 30 to 40 per cent Y-o-Y on its current base

How to Get a Pre-Approved Personal Loan with Kotak Mahindra Bank?

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Table: Interest rates, terms of personal loans offered by various banks

Paisabazaar's table also tells you about EMI, process fees of lenders

High interest rates may impact borrowers' debt service capacity: FSB to G20

Ahead of the G20 Summit here, Switzerland-based Financial Stability Board (FSB) on Tuesday warned that higher interest rates alongside a slowing growth outlook, could impair the capacity of borrowers to service historically high levels of debt. The FSB has published two letters from its Chair, Klaas Knot, to G20 Leaders ahead of their Summit in New Delhi on September 9-10. The first letter outlines the work FSB has undertaken under the Leadership of India's G20 Presidency to address existing vulnerabilities in the financial system and enhance the resilience of the financial system to structural change. The second letter provides to G20 Leaders an update on the G20 Cross-border Payments Roadmap. FSB, in its communication to G20 leaders, stressed that a resilient and stable financial system is indispensable to sustaining economic growth, particularly in the current environment. FSB notes the challenging backdrop of strong and persistent inflation and slowing growth, and warns that .

Loan sanctions through NBFCs slip sharply to 5.7% in June quarter

Sequentially, the sanctioned shrunk by 20.3 per cent over the quarter ended March 2023 (Q4FY23), data from Finance Industry Development Council (FIDC)-CRIF showed