Personal Loans - Global Strategic Business Report

The global market for Personal Loans was estimated at US$764.2 Billion in 2024 and is projected to reach US$1.7 Trillion by 2030, growing at a CAGR of 14.7% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. The report includes the most recent global tariff developments and how they impact the Personal Loans market.

Global Personal Loans Market - Key Trends & Drivers Summarized

Why Are Personal Loans an Increasingly Preferred Form of Consumer Credit?

Personal loans offer individuals unsecured access to credit for a range of purposes including medical expenses, home renovations, education, and debt consolidation. Unlike credit cards, they come with fixed interest rates and structured repayment schedules, making them a predictable and often more affordable financing option. Their flexibility and lack of collateral requirements appeal to both salaried and self-employed borrowers.

As consumer financial needs diversify, personal loans are emerging as a mainstream borrowing tool. Digitization of loan origination, simplified documentation, and pre-approved offers are further driving convenience and adoption. Younger consumers, particularly those establishing credit histories, are contributing to rising demand for small-ticket personal loans for lifestyle and emergency expenses.

How Are Lending Platforms and Credit Assessment Models Evolving?

Traditional banks, non-banking financial companies (NBFCs), and fintech firms are all actively offering personal loans. Fintech lenders are leveraging artificial intelligence, alternative credit scoring, and digital KYC processes to offer faster disbursement and customized loan products. Peer-to-peer lending platforms are gaining ground by facilitating credit access to underserved or thin-file consumers.

Lenders are increasingly integrating data from utility bills, e-commerce spending, and mobile usage into credit evaluation models. This shift is improving credit penetration among gig economy workers and informal sector borrowers. Real-time loan approval, instant disbursal, and flexible repayment features are setting new expectations in personal loan delivery.

Where Is Market Expansion Most Evident and Which Borrowers Are Driving Demand?

Emerging markets in Asia-Pacific, Latin America, and parts of Africa are experiencing strong growth in personal loans due to rising middle-class aspirations, digital banking adoption, and improved financial inclusion. Urban borrowers dominate demand, particularly those seeking short-term credit for education, weddings, or home appliances.

Millennials and Gen Z borrowers are major contributors to market expansion, driven by mobile-first behavior and comfort with digital financial products. In high-income economies, demand is shifting towards consolidation of credit card debt, medical financing, and elective spending. The rise of buy-now-pay-later services is also influencing personal loan structures and borrower expectations.

Growth in the Personal Loans market is Driven By Several Factors

Growth in the personal loans market is driven by increased consumer awareness of unsecured credit options, digital transformation in lending processes, and expansion of credit access to underserved segments. Fintech innovations in application processing, underwriting, and customer engagement are accelerating disbursement cycles and enhancing borrower experience.

Wider smartphone penetration, demand for instant credit, and favorable regulatory reforms supporting digital lending ecosystems are further boosting growth. As household financial planning becomes more structured, personal loans are being integrated into broader financial wellness strategies, supporting their continued relevance and adoption across income brackets and regions.

Scope Of Study:

The report analyzes the Personal Loans market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments: Type (P2P Marketplace Lending, Balance Sheet Lending); Application (Short-Term Loans Application, Medium-Term Loans Application, Long-Term Loans Application)

Geographic Regions/Countries: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Key Insights:

• Market Growth: Understand the significant growth trajectory of the P2P Marketplace Lending segment, which is expected to reach US$1.2 Trillion by 2030 with a CAGR of a 16.2%. The Balance Sheet Lending segment is also set to grow at 12.2% CAGR over the analysis period.
• Regional Analysis: Gain insights into the U.S. market, estimated at $208.2 Billion in 2024, and China, forecasted to grow at an impressive 19.8% CAGR to reach $380.0 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Why You Should Buy This Report:

• Detailed Market Analysis: Access a thorough analysis of the Global Personal Loans Market, covering all major geographic regions and market segments.
• Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
• Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Personal Loans Market.
• Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

• How is the Global Personal Loans Market expected to evolve by 2030?
• What are the main drivers and restraints affecting the market?
• Which market segments will grow the most over the forecast period?
• How will market shares for different regions and segments change by 2030?
• Who are the leading players in the market, and what are their prospects?

Report Features:

• Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
• In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
• Company Profiles: Coverage of players such as Avant, Barclays, Best Egg, Capital One, Citibank and more.
• Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Some of the 43 companies featured in this Personal Loans market report include:

• Avant
• Barclays
• Best Egg
• Capital One
• Citibank
• Discover Financial Services
• Earnest
• FreedomPlus
• HDFC Bank
• HSBC Holdings
• LendingClub
• LightStream (Truist)
• Marcus by Goldman Sachs
• MoneyTap
• OneMain Financial
• OppLoans
• Prosper Marketplace
• Rocket Loans
• SoFi
• Upstart

This edition integrates the latest global trade and economic shifts as of June 2025 into comprehensive market analysis. Key updates include:

• Tariff and Trade Impact: Insights into global tariff negotiations across 180+ countries, with analysis of supply chain turbulence, sourcing disruptions, and geographic realignment. Special focus on 2025 as a pivotal year for trade tensions, including updated perspectives on the Trump-era tariffs.
• Adjusted Forecasts and Analytics: Revised global and regional market forecasts through 2030, incorporating tariff effects, economic uncertainty, and structural changes in globalization. Includes segmentation by product, technology, type, material, distribution channel, application, and end-use, with historical analysis since 2015.
• Strategic Market Dynamics: Evaluation of revised market prospects, regional outlooks, and key economic indicators such as population and urbanization trends.
• Innovation & Technology Trends: Latest developments in product and process innovation, emerging technologies, and key industry drivers shaping the competitive landscape.
• Competitive Intelligence: Updated global market share estimates for 2025, competitive positioning of major players (Strong/Active/Niche/Trivial), and refined focus on leading global brands and core players.
• Expert Insight & Commentary: Strategic analysis from economists, trade experts, and domain specialists to contextualize market shifts and identify emerging opportunities.
• Complimentary Update: Buyers receive a free July 2025 update with finalized tariff impacts, new trade agreement effects, revised projections, and expanded country-level coverage.