- 34 lakh avail home loans in 2022
In spite of an increase in lending rates on home loans and realty prices going up, the real estate boom is continuing in the country as evidenced by over 34 lakh availing home loans last year. Banks and other financial institutions together have advanced Rs 9 lakh crore during 2022 registering an increase of 18 per cent compared to the quantum of home loans availed during 2021.
Customers who have availed loan less than Rs 25 lakh constitute 67% of the total borrowers, while those who borrowed loan from Rs 75 lakh to Rs 1 crore constituted 36%. Personal loans also registered a growth of 57% compared to the last year. Moreover, the value of the retail loan market has crossed Rs 100 lakh crore by 2022. In all, the quantum of active loans is put at Rs 54 crore. By December 2022, the number of persons who availed furniture loans and household implements is put at 6.5 crore, registering 48% growth compared to those who have availed loans in this category last year.
