India Personal Loan Market Share, Size, Trends, Industry Analysis, Report 2025-2033

Personal Loan Market - India

Market Statistics

• Base Year: 2024
• Historical Years: 2019-2024
• Forecast Years: 2025-2033
• Market Size in 2024: USD 135.7 Billion
• Market Size in 2033: USD 556.3 Billion
• Market Growth Rate (CAGR) 2025-2033: 15.70%

According to IMARC Group's report titled "India Personal Loan Market Report and Forecast 2025-2033," the market reached USD 135.7 billion in 2024. Looking forward, IMARC Group expects the market to reach USD 556.3 billion by 2033, exhibiting a growth rate (CAGR) of 15.70% during 2025-2033.

Download sample copy of the Report: https://www.imarcgroup.com/india-personal-loan-market/requestsample

India Personal Loan Market Trends and Drivers:

• India personal loan market is witnessing considerable growth fueled by shifting consumer behavior, increased digitization of financial services, and the rapid expansion of fintech and NBFCs disbursing loans instantly and easily.

• Increasing ambitions of the middle class, rising disposable income, and improving standards of living are encouraging more customers towards unsecured credit in the form of personal loans for short-term needs such as weddings, holidays, education, or healthcare expenses.

• The shift towards online platforms and mobile banking apps has facilitated loan applications and approvals, reducing paperwork and enabling faster processing time, attracting technologically savvy young generations.

• Improving credit awareness and financial inclusion in tier 2 and tier 3 cities is unlocking large untapped customer segments, driving market expansion.

• Use of advanced analytics, AI, and alternative data for lending is enabling lenders to serve first-time borrowers or thin-file borrowers who were earlier excluded by conventional banks.

• A highly competitive landscape with private banks, NBFCs, and digital lending platforms is pushing better interest rates, easy repayment schedules, and low documentation requirements, providing strong incentives for borrowers.

• Regulatory support from organizations like RBI towards responsible digital lending and customer data privacy is enhancing consumer confidence and strengthening industry credibility.

• Increasing credit requirements among millennials and gig economy workers—who often lack traditional income proof—are pushing lenders to adopt innovative underwriting methods.

• Borrowing personal loans to pay off debt and credit card obligations is becoming a popular trend as consumers aim to consolidate multiple liabilities more effectively.

• Growth in salaried workers and employment in the organized sector is further boosting eligibility and demand for personal loans.

• Adoption of e-KYC, instant disbursal platforms, and API-based verification is transforming the sector by reducing turnaround times and enhancing customer experience.

• Overall, the convergence of digital evolution, borrower needs, innovative credit assessment, and responsible lending practices is revolutionizing the India personal loan market and driving healthy growth in the financial sector.

India Personal Loan Industry Segmentation:

The market report offers a comprehensive analysis of the segments, highlighting those with the largest India personal loan market share. It includes forecasts for the period 2025-2033 and historical data from 2019-2024 for the following segments.

Provider Insights:

• Bank
• Non-Banking Financial Company (NBFC)

Tenure Insights:

• Less than 12 Months
• 12-36 Months
• More Than 36 Months

Interest Rate Insights:

• 10%-15%
• 16%-20%
• Above 20%

Regional Insights:

• North India
• South India
• East India
• West India

Request for customization: https://www.imarcgroup.com/request?type=report&id=31729&flag=C

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Key highlights of the Report:

• Market Performance (2019-2024)
• Market Outlook (2025-2033)
• COVID-19 Impact on the Market
• Porter’s Five Forces Analysis
• Strategic Recommendations
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us:

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

Contact Us:  

IMARC Group 

134 N 4th St. Brooklyn, NY 11249, USA 

Email: [email protected] 

Tel No:(D) +91 120 433 0800 

United States: +1-201971-6302