Over the last few years, online personal loans are rapidly taking over the financial industry. The shift in consumer behaviour and government initiatives have made this loan popular among millennials. According to Reserve Bank of India data, overall digital lending increased more than twelvefold from 2017 to 2020. In terms of figures, the total digital disbursement in 2020 was Rs 1,41,821 crore, up from Rs 11,671 crore in 2017. Out of these disbursements, the majority are personal loans.

1. What is the
impact of online
personal loans
on the entire
financial
industry?

2. Factors that popularised personal loans in India
● The first reason is the continuous shifting of the paper
economy on digital platforms.
● Another is Covid-19 restrictions, forcing people to switch to
digital modes of transactions.
● The last is smartphone and internet penetration in rural and
underserved banking locations.

3. How online
personal loans
are changing
the financial
industry?

4. Simplified application
01 You only need to
share basic
information to
complete the
application process.
02 You can apply for
this loan with a few
clicks.

5. Customised product
There are different loan products for your
different needs.

6. Quick
approval
● The time it takes
for loan approval
ranges from 20
seconds to 5
minutes.

7. ● You can track your EMIs,
outstanding balance,
and status of the fresh
loan application.
Tracking

8. Contactless process
You can complete the entire application process
from your home.

9. Online personal loan advantages
Mercury
● You can easily
compare
different lenders.
Neptune
● You can apply
from anywhere
at any time.

10. Online personal loans are simple to
apply for and offer several benefits
over traditional loans.
— Hero Fincorp

11. This presentation template was created by
Slidesgo, including icons by Flaticon, and
infographics & images by Freepik
Thanks
Would Love to hear from you
Hero Fincorp Limited
09, Basant Lok, Vasant Vihar, New Delhi - 110057
Tel : 18001024145
Email : customer.care@herofincorp.com
Website : https://www.herofincorp.com/
Know More : How online personal loans are changing the
whole financial industry?