Rs 9 Lakh Crore Home Loans Disbursed In India In 2022: Report

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New Delhi: As much as 34 lakh home loans totalling Rs nine lakh crore were disbursed during the year 2022, registering an annual growth of 18 percent, revealed a study on retail loans by data analytics firm Equifax and loan distributor Andromeda. Of the total loans, less than Rs 25 lakh ticket size category accounted for the maximum number of disbursals, the study found.

The number of loans given too was up by 17 percent during the calendar year 2022. It further revealed that the personal loan segment registered an impressive growth of 57 percent during 2022. The market size of the retail industry reached Rs 100 lakh crore by December 2022. ()

Among the different loan segments, the study found retail industry reported 54 crore active loans. ()

Commenting on the growth witnessed by the home loan segment, V Swaminathan, Executive Chairman - of loan distributor Andromeda Sales and Distributions said that "be it public sector banks, private sector banks or housing finance companies (HFCs), all are witnessing healthy growth in home loan business".

The contribution to retail loan disbursement was highest by the public sector banks and the private sector banks.

"The insights presented in our report will prove to be immensely beneficial for lenders as they aim to uphold high underwriting standards, manage risks prudently and increase operational efficiencies. Furthermore, the report will enable lenders to navigate the new high growth environment effectively by leveraging the knowledge gained from the pandemic," said KM Nanaiah Managing Director, Equifax Credit Information Services Pvt. Ltd and Country Leader - India and MEA, Equifax.

Equifax is a global data, analytics, and technology company.