Gen Z is Taking More Personal Loans: Here's Why
A 2020 report by credit bureau CRIF High Mark said that millennials and young borrowers have been driving the personal loan demand in India. This segment is mainly in the 18-30, whose share has reached 41% in 2022 from 27% in 2020. There are plenty of good reasons why Gen Z is most likely to opt for short-term loans. It helps with diverse needs like utility bills, house rent, college fees, debt consolidation and home repair. The lender does not monitor the end usage of the funds. You may borrow any amount between ₹15,000 and ₹4,00,000 and repay at a future date via affordable EMIs. Look at why else Gen Z get loans online for personal needs. Fewer Complexities A good fintech company strives to make the loan process simple. It is helpful for young adults who may be confused in complicated financial situations. You can download the app from the App Store or Google Play Store , learn about the eligibility and get started immediately. The fees and charges are transparent. The tenure