Report Description

The global unsecured loan market is anticipated to project robust growth in the forecast period due to easy application process, non-requirement of collateral and fast disbursement rate.

Loans are sums of money given by banks or other financial institutions with the expectation that the borrower would pay back the loan in full, plus a set amount of interest each month. Equated Monthly Instalment (EMI), which includes both principal and interest, is the name given to the monthly payment made to the bank or other financial institution.

Since unsecured loans are given out without any underlying collateral, they are frequently referred to as signature loans. A personal loan is obtained by more than half of borrowers (57.6%) to refinance credit cards or consolidate debt. Home renovations come in, at number two (5.8%). The borrower's credit score is often a factor in the terms and conditions of these loans, including the approval, sanction, and loan distribution. Certain unsecured loans require borrowers to have a high credit score to be approved. In some situations, if the borrower's credit score is insufficient, the lender may require a cosigner who will assume responsibility for paying the debt, should the borrower default on the loan.

In 2022, personal loan debt is higher than ever, in United States. The average balance per loan of unsecured personal loans held by Americans is $9,896, with a total balance amounting to $177.9 billion.

A loan amount that can be repaid in a shorter amount of time is offered by an unsecured loanThe amount and length of the loan could be based on the purpose. Because of the smaller loan amount and shorter term, the borrower can quickly pay off debts and rotate the money flow from other sources to cover the loan payback.

Short Application Process of Unsecured Loans is Fueling the Market Growth

A secured loan application process can take a while. Financial institutions want to be certain that the businesses they lend to have the ability to make timely payments and eventually pay off their loans in full. They carefully review each application for a company loan, consequently. This is true for both secured and unsecured loans, as well as other forms of funding like business lines of credit, merchant cash advances, and invoice finance. However, the lender must thoroughly inspect any provided collateral in order to assess its value. This can require a lot of time. When compared to secured loans, the application and approval processes are quite simple and fast. Within a few days, the loan money is disbursed. Thus, the market for unsecured loan market is anticipated to develop at a faster rate than average during the anticipated period due to the rising demand for unsecured loans because of its quick loan application process.

Non-Requirement of Collateral Will Boost Market Growth

Many companies require collateral for taking a loan. A startup might not have any valuable company assets, for instance, to provide as collateral to lenders. The startup would therefore not be qualified for the majority of secured company loans. Other elements, such as business strategy and market potential, are considered while assessing a company. Startups and enterprises, without any assets, are eligible for unsecured business loans. As of the first quarter of 2022, 20.4 million Americans had personal loans, up from 19.9 million in the previous year. The number of borrowers has decreased from 20.8 million, at the end of 2019, despite the fact that personal loan debt is increasing. Any individual who lacks the necessary equity to secure the loan should choose an unsecured loan. This makes it possible for the person to borrow money for things other than just buying assets. This borrowing method allows borrowers to obtain quick cash that can be utilized to pay off due credit card balances or any other loans that need to be closed as soon as possible. As a result, the market for unsecured loan market is anticipated to rise due to the non-requirement of collateral.


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Rising Supports from Chat bots Will Fuel The Market Growth

The market for personal loans has grown due to an increase in the adoption of advanced technologies like Chatbots, IoT, AI, and big data analytics. For instance, Zopa, Prosper and Lending Club are some of the Person-2-Person platforms for lending personal loans. It offers a credit card for online and offline purchases, a fixed-term savings account, and allows borrowers to access loans from a variety of lenders or investors. These firms enable customers to apply for loans in the comfort of their own homes. Additionally, as digitalization continues to grow, suppliers of unsecured loans look forward to making swift investments in customer interaction by offering digital and voice-activated assistants. Furthermore, Chatbots software programmes are used to conduct online chat conversations that are often employed by businesses providing unsecured loans because they provide more personalizedand user-friendly experiences for clients. Furthermore, more firms are developing creative unsecured loan schemes because of advancements in technology. As a result, there is no limit to the potential of technological development, which is anticipated to lead to profitable ventures for the expansion of the unsecured loans market.

Market Segmentation

The Unsecured Loan Market is segmented based on type, provider type, interest rate and tenure. Based on type, the market is segmented into personal loan, education loan, credit card loan, agricultural loan, home improvement loan and others (short term business loan, consumer durable loan etc.). The market is further divided into bank, non-banking financial companies, others (fintech companies), based on provider type. On the basis of interest rate, the market is segmented into fixed and floating. Based on tenure, the market is fragmented into less than 3 years, 3-5 years, and more than 5 years. On the basis of region, the market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa and South America.

Company Profiles

Bank of America Corporation, Citigroup, Inc., Wells Fargo & Co., U.S. Bancorp, PNC Financial Services Group, Inc., American Express Company, Ally Financial Inc., Truist Financial Corporation, Bank of China and HDFC Bank Ltd. are among the major market players in the global platform that lead the market growth of the global unsecured loan market.

Attribute

Details

Base Year

2022

Historical Years

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Billion and CAGR for 2018-2022 and 2023-2028

Report Coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

·         Type

·         Provider Type

·         Interest Rate

·         Tenure

·         Region

Regional Scope

North America, Europe, Asia-Pacific, Middle East & Africa and South America

Country Scope

United States, Canada, Mexico, Germany, France, United Kingdom, Italy, Spain, China, India, Japan, South Korea, Australia, Saudi Arabia, UAE, South Africa, Turkey, Brazil; Argentina, Colombia

Key Companies Profiled

Bank of America Corporation, Citigroup, Inc., Wells Fargo & Co., U.S. Bancorp, PNC Financial Services Group, Inc., American Express Company, Ally Financial Inc., Truist Financial Corporation, Bank of China and HDFC Bank Ltd.

Customization Scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and Purchase Options

Avail of customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)


Report Scope:

In this report, the global unsecured loan market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Global Unsecured Loan Market, By Type:
    • Personal Loan
    • Education Loan
    • Credit Card Loan
    • Agricultural Loan
    • Home Improvement Loan
    • Others
  • Global Unsecured Loan Market, By Provider Type:
    • Banks
    • Non-Banking Financial Companies
    • Others
  • Global Unsecured Loan Market, By Interest Rate:
    • Fixed
    • Floating
  • Global Unsecured Loan Market, By Tenure:
    • Less than 3 Years
    • 3-5 Years
    • More than 5 Years
  • Global Unsecured Loan Market, By Region:
    • North America
      • United States
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • United Kingdom
      • Italy
      • Spain
    • Asia-Pacific
      • China
      • India
      • Japan
      • South Korea
      • Australia
    • Middle East & Africa
      • Saudi Arabia
      • UAE
      • South Africa
      • Turkey
    • South America
      • Brazil
      • Argentina
      • Colombia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the global unsecured loan market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Unsecured Loan Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Introduction

1.1.  Product Overview

1.2.  Key Highlights of the Report

1.3.  Market Coverage

1.4.  Market Segments Covered

1.5.  Research Tenure Considered

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary         

3.1.  Market Overview

3.2.  Market Forecast

3.3.  Key Regions

3.4.  Key Segments

4.    Voice of Customer Analysis

4.1.  Sample Size Determination

4.2.  Respondent Demographics

4.2.1.     By Gender

4.2.2.     By Age

4.2.3.     By Occupation

4.3.  Brand Awareness

4.4.  Factors Influencing Loan Availing Decisions

4.5.  Challenges Faced

5.    Global Unsecured Loan Market Outlook

5.1.  Market Size & Forecast

5.1.1.     By Value

5.2.  Market Share & Forecast

5.2.1.     By Type Market Share Analysis (Personal Loan, Education Loan, Credit Card Loan, Agricultural Loan, Home Improvement Loan and Others (Short Term Business Loan, Consumer Durable Loan etc.)

5.2.2.     By Provider Type Market Share Analysis (Bank, Non-Banking Financial Companies and Others (Fintech Companies))

5.2.3.     By Interest Rate Market Share Analysis (Fixed and Floating)

5.2.4.     By Tenure Market Share Analysis (Less than 3 Years, 3-5 Years, More than 5 Years)

5.2.5.     By Regional Market Share Analysis

5.2.5.1.         North America Market Share Analysis

5.2.5.2.         Europe Market Share Analysis

5.2.5.3.         Asia -Pacific Market Share Analysis

5.2.5.4.         Middle East & Africa Market Share Analysis

5.2.5.5.         South America Market Share Analysis

5.2.6.     By To 5 Companies Market Share Analysis, Others (2022)

5.3.  Global Unsecured Loan Market Mapping & Opportunity Assessment

5.3.1.     By Type Market Mapping & Opportunity Assessment

5.3.2.     By Provider Type Market Mapping & Opportunity Assessment

5.3.3.     By Interest Rate Market Mapping & Opportunity Assessment

5.3.4.     By Tenure Market Mapping & Opportunity Assessment

5.3.5.     By Regional Market Mapping & Opportunity Assessment

6.    North America Unsecured Loan Market Outlook

6.1.  Market Size & Forecast          

6.1.1.     By Value

6.2.  Market Share & Forecast

6.2.1.     By Type Market Share Analysis

6.2.2.     By Provider Type Market Share Analysis

6.2.3.     By Interest Rate Market Share Analysis

6.2.4.     By Tenure Market Share Analysis

6.2.5.     By Country Market Share Analysis

6.2.5.1.         United States Unsecured Loan Market Outlook

6.2.5.1.1.             Market Size & Forecast

6.2.5.1.1.1. By Value

6.2.5.1.2.             Market Share & Forecast

6.2.5.1.2.1. By Type Market Share Analysis

6.2.5.1.2.2. By Provider Type Market Share Analysis

6.2.5.1.2.3. By Interest Rate Market Share Analysis

6.2.5.1.2.4. By Tenure Market Share Analysis

6.2.5.2.         Canada Unsecured Loan Market Outlook

6.2.5.2.1.             Market Size & Forecast

6.2.5.2.1.1. By Value

6.2.5.2.2.             Market Share & Forecast

6.2.5.2.2.1. By Type Market Share Analysis

6.2.5.2.2.2. By Provider Type Market Share Analysis

6.2.5.2.2.3. By Interest Rate Market Share Analysis

6.2.5.2.2.4. By Tenure Market Share Analysis

6.2.5.3.         Mexico Unsecured Loan Market Outlook

6.2.5.3.1.             Market Size & Forecast

6.2.5.3.1.1. By Value

6.2.5.3.2.             Market Share & Forecast

6.2.5.3.2.1. By Type Market Share Analysis

6.2.5.3.2.2. By Provider Type Market Share Analysis

6.2.5.3.2.3. By Interest Rate Market Share Analysis

6.2.5.3.2.4. By Tenure Market Share Analysis

7.    Europe Unsecured Loan Market Outlook

7.1.  Market Size & Forecast          

7.1.1.     By Value

7.2.  Market Share & Forecast

7.2.1.     By Type Market Share Analysis

7.2.2.     By Provider Type Market Share Analysis

7.2.3.     By Interest Rate Market Share Analysis

7.2.4.     By Tenure Market Share Analysis

7.2.5.     By Country Market Share Analysis

7.2.5.1.         Germany Unsecured Loan Market Outlook

7.2.5.1.1.             Market Size & Forecast

7.2.5.1.1.1. By Value

7.2.5.1.2.             Market Share & Forecast

7.2.5.1.2.1. By Type Market Share Analysis

7.2.5.1.2.2. By Provider Type Market Share Analysis

7.2.5.1.2.3. By Interest Rate Market Share Analysis

7.2.5.1.2.4. By Tenure Market Share Analysis

7.2.5.2.         France Unsecured Loan Market Outlook

7.2.5.2.1.             Market Size & Forecast

7.2.5.2.1.1. By Value

7.2.5.2.2.             Market Share & Forecast

7.2.5.2.2.1. By Type Market Share Analysis

7.2.5.2.2.2. By Provider Type Market Share Analysis

7.2.5.2.2.3. By Interest Rate Market Share Analysis

7.2.5.2.2.4. By Tenure Market Share Analysis

7.2.5.3.         United Kingdom Unsecured Loan Market Outlook

7.2.5.3.1.             Market Size & Forecast

7.2.5.3.1.1. By Value

7.2.5.3.2.             Market Share & Forecast

7.2.5.3.2.1. By Type Market Share Analysis

7.2.5.3.2.2. By Provider Type Market Share Analysis

7.2.5.3.2.3. By Interest Rate Market Share Analysis

7.2.5.3.2.4. By Tenure Market Share Analysis

7.2.5.4.         Italy Unsecured Loan Market Outlook

7.2.5.4.1.             Market Size & Forecast

7.2.5.4.1.1. By Value

7.2.5.4.2.             Market Share & Forecast

7.2.5.4.2.1. By Type Market Share Analysis

7.2.5.4.2.2. By Provider Type Market Share Analysis

7.2.5.4.2.3. By Interest Rate Market Share Analysis

7.2.5.4.2.4. By Tenure Market Share Analysis

7.2.5.5.         Spain Unsecured Loan Market Outlook

7.2.5.5.1.             Market Size & Forecast

7.2.5.5.1.1. By Value

7.2.5.5.2.             Market Share & Forecast

7.2.5.5.2.1. By Type Market Share Analysis

7.2.5.5.2.2. By Provider Type Market Share Analysis

7.2.5.5.2.3. By Interest Rate Market Share Analysis

7.2.5.5.2.4. By Tenure Market Share Analysis

8.    Asia-Pacific Unsecured Loan Market Outlook

8.1.  Market Size & Forecast          

8.1.1.     By Value

8.2.  Market Share & Forecast

8.2.1.     By Type Market Share Analysis

8.2.2.     By Provider Type Market Share Analysis

8.2.3.     By Interest Rate Market Share Analysis

8.2.4.     By Tenure Market Share Analysis

8.2.5.     By Country Market Share Analysis

8.2.5.1.         China Unsecured Loan Market Outlook

8.2.5.1.1.             Market Size & Forecast

8.2.5.1.1.1. By Value

8.2.5.1.2.             Market Share & Forecast

8.2.5.1.2.1. By Type Market Share Analysis

8.2.5.1.2.2. By Provider Type Market Share Analysis

8.2.5.1.2.3. By Interest Rate Market Share Analysis

8.2.5.1.2.4. By Tenure Market Share Analysis

8.2.5.2.         India Unsecured Loan Market Outlook

8.2.5.2.1.             Market Size & Forecast

8.2.5.2.1.1. By Value

8.2.5.2.2.             Market Share & Forecast

8.2.5.2.2.1. By Type Market Share Analysis

8.2.5.2.2.2. By Provider Type Market Share Analysis

8.2.5.2.2.3. By Interest Rate Market Share Analysis

8.2.5.2.2.4. By Tenure Market Share Analysis

8.2.5.3.         Japan Unsecured Loan Market Outlook

8.2.5.3.1.             Market Size & Forecast

8.2.5.3.1.1. By Value

8.2.5.3.2.             Market Share & Forecast

8.2.5.3.2.1. By Type Market Share Analysis

8.2.5.3.2.2. By Provider Type Market Share Analysis

8.2.5.3.2.3. By Interest Rate Market Share Analysis

8.2.5.3.2.4. By Tenure Market Share Analysis

8.2.5.4.         South Korea Unsecured Loan Market Outlook

8.2.5.4.1.             Market Size & Forecast

8.2.5.4.1.1. By Value

8.2.5.4.2.             Market Share & Forecast

8.2.5.4.2.1. By Type Market Share Analysis

8.2.5.4.2.2. By Provider Type Market Share Analysis

8.2.5.4.2.3. By Interest Rate Market Share Analysis

8.2.5.4.2.4. By Tenure Market Share Analysis

8.2.5.5.         Australia Unsecured Loan Market Outlook

8.2.5.5.1.             Market Size & Forecast

8.2.5.5.1.1. By Value

8.2.5.5.2.             Market Share & Forecast

8.2.5.5.2.1. By Type Market Share Analysis

8.2.5.5.2.2. By Provider Type Market Share Analysis

8.2.5.5.2.3. By Interest Rate Market Share Analysis

8.2.5.5.2.4. By Tenure Market Share Analysis

9.    Middle East & Africa Unsecured Loan Market Outlook

9.1.  Market Size & Forecast          

9.1.1.     By Value

9.2.  Market Share & Forecast

9.2.1.     By Type Market Share Analysis

9.2.2.     By Provider Type Market Share Analysis

9.2.3.     By Interest Rate Market Share Analysis

9.2.4.     By Tenure Market Share Analysis

9.2.5.     By Country Market Share Analysis

9.2.5.1.         Saudi Arabia Unsecured Loan Market Outlook

9.2.5.1.1.             Market Size & Forecast

9.2.5.1.1.1. By Value

9.2.5.1.2.             Market Share & Forecast

9.2.5.1.2.1. By Type Market Share Analysis

9.2.5.1.2.2. By Provider Type Market Share Analysis

9.2.5.1.2.3. By Interest Rate Market Share Analysis

9.2.5.1.2.4. By Tenure Market Share Analysis

9.2.5.2.         UAE Unsecured Loan Market Outlook

9.2.5.2.1.             Market Size & Forecast

9.2.5.2.1.1. By Value

9.2.5.2.2.             Market Share & Forecast

9.2.5.2.2.1. By Type Market Share Analysis

9.2.5.2.2.2. By Provider Type Market Share Analysis

9.2.5.2.2.3. By Interest Rate Market Share Analysis

9.2.5.2.2.4. By Tenure Market Share Analysis

9.2.5.3.         South Africa Unsecured Loan Market Outlook

9.2.5.3.1.             Market Size & Forecast

9.2.5.3.1.1. By Value

9.2.5.3.2.             Market Share & Forecast

9.2.5.3.2.1. By Type Market Share Analysis

9.2.5.3.2.2. By Provider Type Market Share Analysis

9.2.5.3.2.3. By Interest Rate Market Share Analysis

9.2.5.3.2.4. By Tenure Market Share Analysis

9.2.5.4.         Turkey Unsecured Loan Market Outlook

9.2.5.4.1.             Market Size & Forecast

9.2.5.4.1.1. By Value

9.2.5.4.2.             Market Share & Forecast

9.2.5.4.2.1. By Type Market Share Analysis

9.2.5.4.2.2. By Provider Type Market Share Analysis

9.2.5.4.2.3. By Interest Rate Market Share Analysis

9.2.5.4.2.4. By Tenure Market Share Analysis

10.  South America Unsecured Loan Market Outlook

10.1.              Market Size & Forecast

10.1.1.  By Value

10.2.              Market Share & Forecast

10.2.1.  By Type Market Share Analysis

10.2.2.  By Provider Type Market Share Analysis

10.2.3.  By Interest Rate Market Share Analysis

10.2.4.  By Tenure Market Share Analysis

10.2.5.  By Country Market Share Analysis

10.2.5.1.      Brazil Unsecured Loan Market Outlook

10.2.5.1.1.           Market Size & Forecast

10.2.5.1.1.1.               By Value

10.2.5.1.2.           Market Share & Forecast

10.2.5.1.2.1.               By Type Market Share Analysis

10.2.5.1.2.2.               By Provider Type Market Share Analysis

10.2.5.1.2.3.               By Interest Rate Market Share Analysis

10.2.5.1.2.4.               By Tenure Market Share Analysis

10.2.5.2.      Argentina Unsecured Loan Market Outlook

10.2.5.2.1.           Market Size & Forecast

10.2.5.2.1.1.               By Value

10.2.5.2.2.           Market Share & Forecast

10.2.5.2.2.1.               By Type Market Share Analysis

10.2.5.2.2.2.               By Provider Type Market Share Analysis

10.2.5.2.2.3.               By Interest Rate Market Share Analysis

10.2.5.2.2.4.               By Tenure Market Share Analysis

10.2.5.3.      Colombia Unsecured Loan Market Outlook

10.2.5.3.1.           Market Size & Forecast

10.2.5.3.1.1.               By Value

10.2.5.3.2.           Market Share & Forecast

10.2.5.3.2.1.               By Type Market Share Analysis

10.2.5.3.2.2.               By Provider Type Market Share Analysis

10.2.5.3.2.3.               By Interest Rate Market Share Analysis

10.2.5.3.2.4.               By Tenure Market Share Analysis

11.  Market Dynamics

11.1.              Drivers

11.1.1.  Easy Application Process

11.1.2.  Non-Requirement of Collateral

11.1.3.  Fast Disbursement Rate

11.2.              Challenges

11.2.1.  High Credit Score Requirement

11.2.2.  Increasing Competition from NBFCs

12.  Impact of COVID-19 on Global Unsecured Loan Market

12.1.              Impact Assessment Model       

12.1.1.  Key Segments Impacted

12.1.2.  Key Regions Impacted

12.1.3.  Key Countries Impacted

13.  Market Trends & Developments

13.1.              Rising focus towards loan sector by Bank and NBFCs

13.2.              Increasing support from chatbots

13.3.              Attractive marketing strategies

13.4.              surging demand in developing countries

13.5.              Increase in online portals

14.  Porter’s Five Forces Model

14.1.              Competitive Rivalry

14.2.              Bargaining Power of Buyers

14.3.              Bargaining Power of Suppliers

14.4.              Threat of New Entrants

14.5.              Threat of Substitutes

15.  SWOT Analysis

15.1.              Strengths

15.2.              Weaknesses

15.3.              Opportunities

15.4.              Threats

16.  Competitive Landscape

16.1.              Company Profiles

16.1.1.  Bank of America Corporation

16.1.1.1.      Company Details

16.1.1.2.      Product & Services

16.1.1.3.      Financials (As Per Availability)

16.1.1.4.      Key Market Focus & Geographical Presence

16.1.1.5.      Recent Developments

16.1.1.6.      Key Management Personnel

16.1.2.  Citigroup, Inc.

16.1.2.1.      Company Details

16.1.2.2.      Product & Services

16.1.2.3.      Financials (As Per Availability)

16.1.2.4.      Key Market Focus & Geographical Presence

16.1.2.5.      Recent Developments

16.1.2.6.      Key Management Personnel

16.1.3.  Wells Fargo & Co.

16.1.3.1.      Company Details

16.1.3.2.      Product & Services

16.1.3.3.      Financials (As Per Availability)

16.1.3.4.      Key Market Focus & Geographical Presence

16.1.3.5.      Recent Developments

16.1.3.6.      Key Management Personnel

16.1.4.  U.S. Bancorp

16.1.4.1.      Company Details

16.1.4.2.      Product & Services

16.1.4.3.      Financials (As Per Availability)

16.1.4.4.      Key Market Focus & Geographical Presence

16.1.4.5.      Recent Developments

16.1.4.6.      Key Management Personnel

16.1.5.  PNC Financial Services Group, Inc.

16.1.5.1.      Company Details

16.1.5.2.      Product & Services

16.1.5.3.      Financials (As Per Availability)

16.1.5.4.      Key Market Focus & Geographical Presence

16.1.5.5.      Recent Developments

16.1.5.6.      Key Management Personnel

16.1.6.  American Express Company

16.1.6.1.      Company Details

16.1.6.2.      Product & Services

16.1.6.3.      Financials (As Per Availability)

16.1.6.4.      Key Market Focus & Geographical Presence

16.1.6.5.      Recent Developments

16.1.6.6.      Key Management Personnel

16.1.7.  Ally Financial Inc.

16.1.7.1.      Company Details

16.1.7.2.      Product & Services

16.1.7.3.      Financials (As Per Availability)

16.1.7.4.      Key Market Focus & Geographical Presence

16.1.7.5.      Recent Developments

16.1.7.6.      Key Management Personnel

16.1.8.  Truist Financial Corporation

16.1.8.1.      Company Details

16.1.8.2.      Product & Services

16.1.8.3.      Financials (As Per Availability)

16.1.8.4.      Key Market Focus & Geographical Presence

16.1.8.5.      Recent Developments

16.1.8.6.      Key Management Personnel

16.1.9.  Bank of China

16.1.9.1.      Company Details

16.1.9.2.      Product & Services

16.1.9.3.      Financials (As Per Availability)

16.1.9.4.      Key Market Focus & Geographical Presence

16.1.9.5.      Recent Developments

16.1.9.6.      Key Management Personnel

16.1.10.                HDFC Bank Ltd.

16.1.10.1.    Company Details

16.1.10.2.    Product & Services

16.1.10.3.    Financials (As Per Availability)

16.1.10.4.    Key Market Focus & Geographical Presence

16.1.10.5.    Recent Developments

16.1.10.6.    Key Management Personnel

17.  Strategic Recommendations/Action Plan

17.1.              Key Focus Areas

17.2.              Target Type

17.3.              Target Provider Type

18.   About Us & Disclaimer

 (Note: The companies list can be customized based on the client requirements.)

Figures and Tables

Frequently asked questions

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The key factors driving the Unsecured Loan Market are easy application process, non-requirement of collateral, advancement in technology and fast disbursement rate.

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The most common unsecured loan is Personal Loan. Since this loan is unsecured, the interest rates are typically higher.

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The major benefits of an unsecured loan are as follows: The borrowers don't have to use any of their assets as collateral to obtain money. There are no assets to examine, so the loan approval can go more quickly. For small loans, unsecured loans may be a better choice.

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As a result of the lender's greater risk of loan default, interest rates on unsecured loans are often higher than those on secured loans. If borrowers don't have a good credit history or a consistent source of income, getting an unsecured loan could be challenging.

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Srishti Verma

Business Consultant
Press Release

Personal Loan Segment to Boost the Global Unsecured Loan Market

Dec, 2022

The rise in demand for unsecured loans because of fast disbursement rate and increasing digitalization is one of the leading factors driving the global unsecured loan market during the forecasted per