(EMAILWIRE.COM, September 11, 2023 ) As per Maximize Market research, the Personal Loans Market was USD 83.79 billion in 2022 and is expected to grow at a CAGR of 32.4 percent over the forecast period to reach USD 597.6 billion by 2029.

Personal Loans Market Report Scope and Research Methodology

The report's scope covers market overview, segmentation, competitive analysis, and future outlook, with a focus on ethical considerations and data sources. The personal loans market report assesses market size, trends, and major players. Research methodology includes data collection through surveys, financial analysis, and industry reports.

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Personal Loans Market Dynamics

The personal loans market is driven by several factors that contribute to rapid growth and popularity. There has been increased awareness about personal loans and their benefits among the global population.

Personal Loans Market Regional Insights

North American region dominated the market in the year 2022 and is expected to continue to dominate the market during the forecast period. The Asia Pacific region is also increasing the market for personal loans, driven by the increasing loan inquiries by youngsters across emerging economies, rapid boost in consumption-led credit products, and increasing loan access to improve quality of life.

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Personal Loans Market Segmentation

By Type

Secured Personal Loan
Unsecured Personal Loan

By Age

Young Borrowers
Prime Borrowers
Pre-Retirement Borrowers
Senior Borrowers

By Interest Rate

10% to 15%
16% t0 20%
Above 20 %

By Loan Tenure

Long Term Loans
Medium Term Loans
Short Term Loans

By End User

Individuals Loan
Small Businesses Loan

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Personal Loans Key Competitors include

LightStream
Rocket Loans
Upstart
SoFi
Earnin

Maximize Market Research is leading Consumer Goods and Services research firm, has also published the following reports:

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