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BankBazaar data shows highest personal, car loans are from Bengaluru

BankBazaar data shows highest personal, car loans are from Bengaluru
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According to the data by BankBazaar which is one of the biggest online financial service aggregators of India, the highest personal loan ticket sizes...

BENGALURU: According to the data by BankBazaar which is one of the biggest online financial service aggregators of India, the highest personal loan ticket sizes are in Bengaluru, at Rs 47 lakh, followed by Mumbai (Rs 40 lakh), Delhi (Rs 26 lakh) and Kolkata (Rs 30 lakh).

In the category of the average ticket size of personal loans taken, Mumbai (Rs 2.79 lakh) was ahead of Bengaluru (Rs 2.66 lakh), Chennai, Delhi and Kolkata.

The CEO of BankBazaar Adhil Shetty had said that the high number of large loans in Bengaluru is, just a reflection of the larger disposable income and growing opportunities. He also said that the city has more first-time salaried borrowers compared to other metros.

The highest loan ticket sizes came from Bengaluru, at Rs 49.9 lakh, followed by Chennai at Rs 46.8 lakh, and Delhi at Rs 21.8 lakh.

The highest car purchase done by a woman borrower in 2018 was at Rs 12.9 lakh. In personal loans, Bankbazaar data has shown that the average ticket size in metros was at Rs 2.6 lakh, which is lower when compared to Rs 2.8 lakh in non-metros.

“It’s possible urban users have more choices such as credit card, and EMI options for consumer purchases on debit cards, and may not choose a personal loan as their first option,” said Shetty.

Delhiites took the highest ticket sizes (Rs 5 crore) when it came to home loans, followed by Chennai (Rs 2.2 crore), Bengaluru (Rs 1.5 crore) and Mumbai (Rs 1.8 crore).

An SBI official has said that, “We get biggest home loan and car loan requests from Mumbai. It’s possible Mumbaikars prefer directly contacting their banker than going through a third-party aggregator.”

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