Add to Favourites
To login click here
The global personal loans industry generated $47.79 billion in 2020, and is estimated to garner $719.31 billion by 2030, witnessing a CAGR of 31.7% from 2021 to 2030. Low-interest rates & high borrowing limits and ease in management of payments as compared to several credit cards with different interest rates drive the growth of the global personal loans market. However, surge in number of bad debts among individuals and high amount of penalties restrain the market growth. The Covid-19 pandemic has led to reduced borrowing of personal loans, as well as delayed repayments and EMIs.