MOST LOANS ARE TAKEN FOR PHONES,APPLIANCES
The Economic Times [
Chennai
]
Chandigarh
,
Delhi
,
Kolkata
Dec 25, 2023 | Page No.: 24 | Supplement: ET Wealth | Position: Bottom Center | Source: Bureau | Sq Cm: 422 | AVE: 190080 | PR Value: 950400
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<br> MOST LOANS ARE TAKEN FOR PHONES, APPLIANCES One in two would prefer to take loans online, states a recent survey by Home Credit India. CU C 51% 44% borrow for phones, 9k 1 in 2 prefer 29% home appliances Expanding an existing/ online mode E, 18% starting a new business to take loan, :4 House renovation/ 19% To purchase but 52% went 8 construction smartphone/ to bank/POS , 31% home appliance 5% Buying 52% last year car/ two- o_ Preferred medium Medium for loan wheeler to take loan 1 taken fast year 4% Education loan 4% Marriage Nearly 50% would E-commerce plat- in family like to use embed- forms top choice for ded finance embedded finance Gen Z biggest online shoppers, bankers 59% got loan offers No 10% --- 60% Overall Gen Z Millennials Gen X on Whatsapp; 24% 31% Movie 11111=1111 E-commerce ticket apps Portals trust these offers 54 54 T41 54 IN 50 15x 48 N. 49 Maybe Food order- 44 III 43 WM 19% 17% ing apps OM Travel apps - 36 III MI NI Metro 59% 8% 49% Ell NM EMI cards Digital lending apps EMI card EN III NI =won companies preferred 3% III IN IN 1111 Nom #22%Other payment IN MN MI In medium for cards 20% Tier 2 Bank credit cards 42% taking loan None of the above Online Internet Mobile/app- shopping banking based banking Source: Home Credit Indias How India Borrows Survey 2023 was conducted among 1,842 borrowers in the 0111=0 18-55 age group. across 17 cities. <br> MOST LOANS ARE TAKEN FOR PHONES, APPLIANCES One in two would prefer to take loans online, states a recent survey by Home Credit India. CU C 51% 44% borrow for phones, 9k 1 in 2 prefer 29% home appliances Expanding an existing/ online mode E, 18% starting a new business to take loan, :4 House renovation/ 19% To purchase but 52% went 8 construction smartphone/ to bank/POS , 31% home appliance 5% Buying 52% last year car/ two- o_ Preferred medium Medium for loan wheeler to take loan 1 taken fast year 4% Education loan 4% Marriage Nearly 50% would E-commerce plat- in family like to use embed- forms top choice for ded finance embedded finance Gen Z biggest online shoppers, bankers 59% got loan offers No 10% --- 60% Overall Gen Z Millennials Gen X on Whatsapp; 24% 31% Movie 11111=1111 E-commerce ticket apps Portals trust these offers 54 54 T41 54 IN 50 15x 48 N. 49 Maybe Food order- 44 III 43 WM 19% 17% ing apps OM Travel apps - 36 III MI NI Metro 59% 8% 49% Ell NM EMI cards Digital lending apps EMI card EN III NI =won companies preferred 3% III IN IN 1111 Nom #22%Other payment IN MN MI In medium for cards 20% Tier 2 Bank credit cards 42% taking loan None of the above Online Internet Mobile/app- shopping banking based banking Source: Home Credit Indias How India Borrows Survey 2023 was conducted among 1,842 borrowers in the 0111=0 18-55 age group. across 17 cities.