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MOST LOANS ARE TAKEN FOR PHONES  APPLIANCES
One in two would prefer to take loans online  states a recent survey by Home Credit India 
44  borrow for phones   
home appliances
 Expanding an existing   
starting a new business
House renovation   
construction
5   
Buying  
car  two- 
wheeler
Education loan 4 
To purchase 
smartphone  
home appliance
44 
4   
Marriage  
in family
Nearly 50  would	
E-commerce plat-
like to use embed-	
forms top choice for
ded finance	
embedded finance
1 in 2 prefer  
online mode  
to take loan   
but 52  went  
to bank POS  
last year
51 
29 
18   
19x
Preferred medium	
Medium for loan
to take loan	
taken last year
POS  Bank Over a call Online
Gen Z biggest online shoppers  bankers
minia
ng	
54	
54 I ll 54
_ 50	
MI
48  Iw_Ni   E N 	
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 i1i1iE     MNIMNIII    II MN1I
49
44
M M 36 1- L 43Al	
N N
NM	
-	
__
IN
	
I r  I	
Mr MN NM
IN	
IL II IIII
ii 11 iiiMEN Mt  IIII IM 
  111	
III NM	
Ilt  IMI MI
MIIil
-
	
____ IR   EMI -   MB
Online	
Internet	
Mobile app-
shopping	
banking	
based banking
  
59  got loan offers  
on Whatsapp  24   
trust these offers
Metro
59 
4   
65x  
Tier 1
	
1
I
Overall ¦ Gen Z ¦ Millennials	
Gen X
No
Yes1	
31 
50 
  Maybe
19 
10 	
Movie
ticket apps
15 	
Food order- 
ing apps
60   
E-commerce  
portals
17 
Travel apps
EMI cards  
preferred  
medium for  
taking loan
49 	
EMI card  
companies
20 	
Bank credit cards
 22 
None of the above
8 
r Digital lending apps
	
3 
Other payment  
cards
Source  Home Credit India s How India Borrows Survey 2023 was conducted among 1 842 borrowers in the
18-55 age group  across 17 cities 
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