BusinessPhoto: News18 BusinessMany Gold Loan Borrowers Take Repeat Loans Within 12 Months
A TransUnion CIBIL report reveals that over half of low-risk gold loan borrowers in India take another gold loan within 12 months of their first. This includes renewals, top-ups, and loans from other lenders. Repeat borrowing rates are 57% for loans up to Rs 2.5 lakh and 54% for larger loans. This trend is less common in personal loans and credit cards. The gold loan market is rapidly expanding.
News18 Business·
