Why Indians Borrow Money: Home, Personal And Vehicle Loans Dominate

Home loans continue to dominate India’s borrowing landscape, followed closely by personal and vehicle loans as rising aspirations and lifestyle spending reshape consumer finance trends. While many Indians are borrowing to buy homes, fund weddings, travel or manage expenses, gold and education loans still account for only a small share of total borrowing. The trend highlights changing financial behaviour, growing access to credit and the increasing role of loans in everyday middle-class life across the country.