Almost 67% of Indians Not Opposed To Taking Loans

A survey from Home Credit India, across 12 cities of India across regions revealed that almost 67% of Indians were not opposed to taking loans especially if it fulfills their family's desire or upgrades their lifestyle. The desire to fulfil the needs and the wishes of the family tops the reasons for taking a loan in the future. The second reason why most Indians are willing to take a loan is to Upgrade Their Lifestyle. The survey revealed that 33% of Indians are willing to take a loan for a consumer durable item such as- Mobile Phone, Television, and Refrigerator etc. The other vastly popular loan categories are the two wheelers (23.3%) and personal expenses (20.3%). This is followed by is for purchase of Cars (12.5%), House (12%) and Gold (10.5%). In terms of city wise breakup, around 33% Indians believe that loans are important to enhance their lifestyle highest being in cities like Mumbai (49%), Jaipur (47%) and Chandigarh (41%). On the converse, lifestyle consideration is the least among people in Ahmedabad (19%) followed by Indore (19%), Bangalore (20%) and Kolkata (20%).

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