Let’s see some interesting facts about digital lending.
1) There is a significant shrinkage in the average ticket size of a loan.
5 years ago, only 31% of loans were given less than 1 lakh.
Now, it’s almost 80%. A lot of new entrants in this market.
2) If you ask our parents how many loans they have taken in their lifetime from formal sources: Max 3-5 (Maybe a home loan, educational loan, personal loan for emergency).
And now, if you see, by the age of 30 itself, they would have taken 3 to 5 loans. In their lifetime, they would be taking min 10-15 loans.