Most Loans Are Taken For Phones, Appliances
The Economic Times [
Delhi
]
Chandigarh
,
Chennai
,
Kolkata
Dec 25, 2023 | Page No.: 24 | Supplement: ET Wealth | Position: Bottom Left | Source: Bureau | Sq Cm: 376 | AVE: 169262 | PR Value: 846310
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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 0 11111 51 44 borrow for phones 1 in 2 prefer 8 29 home appliances online mode 7- Expanding an existing 18 starting a new business to take loan House renovation 19 To purchase but 52 went 8 r construction smartphone to bank POS 31 home appliance Buying 52 44 5 last year car two- Preferred medium Medium for loan wheeler to take loan taken last 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 W No 10 60 12 1 Overall ¦ Gen Z ¦ millennia s Gen X on Whatsapp 24 Yes Ail 31 Movie 4 E-commerce 50 ticket apps portals m trust these offers 54 54 I 54 48 um MI 50 1111 Maybe 15 IMI 43 MI M WI 49 Food order- 4 a_4 imiMi MI III ME 19 1111 17 ing apps EN iiMi 41 MI IM PI Travel apps MI IM 36 IF MI • _ IM IM Metro MEI IIKINIMIiil MI INI 8 MI MI MI IM NM MI MI IN MI IIMI 59 49 I EMI cards Digital lending apps EMI card MI MI MI MI MI IN 11 --- Tier 1 4r companies ---- IM III NEM preferred 3 MI NM IN All IM III IM Other payment IMI IIIIIIIM INI IMMINI MIMI medium for cards 20 MIN IM MAIN MINIM Bank credit cards 22 taking loan None of the above Online Internet Mobile app- shopping banking based banking 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 •