BUDGET 2015
Co-Sponsor
Industry Impact Partner
Associate Sponsor

High interest rate on personal loans deter urban India

Usage in percentage terms was reported from the income category of Rs.1 crore of the western region.
Comment E-mail Print Share
First Published: Thu, Jan 24 2013. 07 11 PM IST
Priyanka Parashar/Mint
Priyanka Parashar/Mint
Personal loans carry a high rate of interest and that could be the reason that not many urban households avail this loan. The second series of the Indian Financial Scape survey, conducted by Delhi-based economics research firm Indicus Analytics, tracks patterns of debt usage of the urban India. In its third week, we look at personal loans and the pan-India average stands at 3.29%. The data is split across income groups and regional variations. At least 35,000 households were surveyed across urban India over the period April-June 2012. The national average is pulled up a tad because the western region, at 4.79%, of the country avails the loans prolifically compared with other regions. The eastern, northern and southern regions showed an average of 2.02%, 2.63% and 2.59%, respectively. Interestingly, the usage in percentage terms at 9.36% was reported from the highest income category of Rs.1 crore of the western region.
Key takeaways:
1. The eastern region of the country is a laggard at 2.02% whereas the western region leads at 4.79%.
2. The urban households in the highest income category of Rs.1 crore and above of the western region avails the facility the most in percentage terms.
photo
Comment E-mail Print Share
First Published: Thu, Jan 24 2013. 07 11 PM IST
blog comments powered by Disqus
  • Wed, Feb 25 2015. 05 54 PM
  • Wed, Feb 18 2015. 04 50 PM
Contact Us
Copyright © 2015 HT Media All Rights Reserved