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Everyone likes to celebrate holidays and travel, but it cannot be done for free. Many people make holiday and travel plans in advance, and also prepare funds for the same. At the same time, there are many such people who choose the way of taking loans for travel and holidays. Shocking figures have come out in a recent survey.
Loans for travel
Online personal finance platform Paisa Bazaar recently conducted a survey in this regard. In a report of the Times of India, quoting that survey, it has been told that in India, one out of every five people are paying their travel bills with a personal loan. According to the survey, out of all the personal loan sanctioned between January and June 2023, every fifth loan has been taken for travel.
The number increased in the second quarter
According to the survey, with the arrival of summer, there was a spurt in taking loans for travel, where 16 percent of personal loans were taken for the purpose of meeting travel expenses during the first quarter i.e. January to March 2023 , During the next quarter i.e. April to June 2023, their share increased to 24 percent. This also shows that more people are planning a holiday with the changing season.
Home renovation is the most
However, among personal loan borrowers Most of it was spent on things other than travel. According to the survey, a maximum of 31 per cent people took a personal loan for home repairs. After that, the number of loan takers remained on the number for roaming around. On the third number were such people, who took a personal loan to repay the old loan. The share of such people was about 10 percent.
These people also took personal loans
According to the survey, about 9 percent people took personal loans due to the expenses of treatment and medicines. On the other hand, in the remaining 29 percent, such people were included, who took personal loan due to marriage, education and business. Among individual loans, the maximum number of borrowers were home loans and loans against property. They were followed by car loan and education loan borrowers.
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