4 ms·

18% isn't that high; fixed deposits (almost no risk) give about 8-9%. Inflation in India is quite high.

• zeusk 10y ago
  I meant 18% default rates, not interest rates. But I'm still surprised there are 18% interest loans in India even though I was aware of the going 8~9% CD rates (am Indian).
  • pratishgandhi 10y ago
    Thanks for the comment! The loan interests vary as per type, for example home loans are very long tenor, lower rate and collateralized. For personal loans the rates are typically on the higher side. We offer loans starting from 12%
  • harshitsv67 10y ago
    The rates depend on the credit quality of the borrower which depends on their financials, credit history and income. Rates can be much higher in informal lending space (I have myself heard cases of more than 70% annualised rate, charged over a smaller duration). Borrowers in that space can benefit by moving to a more efficient platform like Credy.