Business Challenge
- To understand how consumers think about personal loans today, what triggers them to take one, how they choose a provider, andwhat they expect from the experience.
The Method
- 20 in-depth interviews with salaried consumers (aged 19–45) in Pune
- Covered those who had taken personal loans in the last year across banks, NBFCs, and fintech platforms
- Explored perceptions, journey, emotional and functional payoffs, and post-loan experience
The Outcome
- Personal loans are now seen as normal and empowering, especially by younger users used for lifestyle needs, emergencies, and financial planning
- Fintech platforms are preferred by younger consumers for their speed, ease, and minimal documentation
- Trust, interest rate, disbursement time, and flexibility are key decision drivers across age groups
- Emotional payoffs (relief, independence, peace of mind) are as important as functional ones
How the Client benefited
- Got a clear view of the modern personal loan user mindset, across age and income segments
- Identified what builds trust, and what breaks it across banks, NBFCs, and fintech’s
- Insights helped shape positioning, product and communication strategy