Fintechs capture 52% market share in personal loans: Report

Fintech companies have captured a 52% market share in personal loans, according to a report released by Experian India on Tuesday. The report noted that these companies have facilitated over Rs 2.48 trillion in personal loans and Rs 28,607 crore in business loans as of March 2024. These loans, often under Rs 50,000, have primarily been extended to New-to-Credit (NTC) individuals.

Fintech firms could potentially double their customer base to 200 million within the next three years if they continue to innovate and overcome current challenges, the report added.