Around half of Indians surveyed are open to taking loans, especially for fulfilling family needs and upgrading their lifestyle, a report said on Thursday.The survey commissioned by Home Credit India, a consumer finance provider, revealed that nearly one-third of respondents are willing to take a loan for a consumer durable item such as mobile phone, television and refrigerator, etc.
The other popular loan categories are two-wheelers (23.3 percent) and personal expenses (20.3 per cent), the survey said. This is followed by car purchase (12.5 percent), house (12 percent) and gold (10.5 percent), it said. The survey was conducted across 12 cities and 2,571 respondents were evaluated to provide a near to accurate pattern of savings, spending and borrowing behaviour in the country.
So, while lifestyle is important, respondents have revealed that fulfilling family needs and their wishes constitutes the single topmost reason for people wanting to take a new loan at an average of 46 per cent nationally, it said. While the country is very positive towards loans, a section of the respondents have also not been positively drawn towards the concept of lending and borrowing and, therefore, have never taken a loan before, it said.