Equated monthly installment

Rising US Personal Loan Debt: Average Unsecured Personal Loan Balance Reaches $9,896 in 2022 - ResearchAndMarkets.com

Retrieved on: 
Friday, September 29, 2023

The global unsecured loan market is poised for substantial growth in the forecast period due to several key factors.

Key Points: 
  • The global unsecured loan market is poised for substantial growth in the forecast period due to several key factors.
  • Popular Loan Purposes: A significant majority of borrowers (57.6%) utilize personal loans to refinance credit card debt or consolidate existing debts.
  • US Personal Loan Debt: In 2022, the United States is witnessing unprecedented levels of personal loan debt.
  • The average balance per loan of unsecured personal loans held by Americans is USD 9,896, with a total balance amounting to USD 177.9 billion.

Key Advantages and Growing Technological Advancements in the Unsecured Loan Market Attract Borrowers

Retrieved on: 
Tuesday, September 26, 2023

The global unsecured loan market is poised for substantial growth in the forecast period due to several key factors.

Key Points: 
  • The global unsecured loan market is poised for substantial growth in the forecast period due to several key factors.
  • Technological Advancements in the Unsecured Loan Market:
    The unsecured loan market has embraced advanced technologies, enhancing the borrower experience:
    Digitalization: Platforms like Zopa, Prosper, and Lending Club facilitate person-to-person lending for personal loans, offering credit cards, fixed-term savings accounts, and access to loans from various lenders or investors.
  • Innovation: Technological advancements have spurred the development of innovative unsecured loan schemes, providing profitable opportunities for market expansion.
  • Key players in the global unsecured loan market include:

Global Car Loan Industry Report 2023-2028: Tech-Driven Transformations to the Fore - How Car Loan Providers Adapt to the Digital Age

Retrieved on: 
Friday, September 22, 2023

According to a 2022 CNBC report, inflation has impacted household budgets, resulting in some American households grappling with their monthly car loan obligations.

Key Points: 
  • According to a 2022 CNBC report, inflation has impacted household budgets, resulting in some American households grappling with their monthly car loan obligations.
  • Consequently, customers can effortlessly secure car loans, thus propelling the expansion of the global car loan market.
  • Lenders are now providing flexible loan tenures and competitive interest rates, rendering car ownership more attainable and expanding the car loan market.
  • Consequently, the demand for car loans to facilitate luxury car acquisitions is projected to drive the car loan market in the forecast period.

NerdWallet Reveals 2022 Best-Of Awards Winners

Retrieved on: 
Friday, January 7, 2022

SAN FRANCISCO, Jan. 7, 2022 /PRNewswire/ -- NerdWallet , Inc. (Nasdaq: NRDS), a website and app that provides consumers and small businesses with trustworthy financial guidance, announces the winners of its 2022 Best-Of Awards .

Key Points: 
  • SAN FRANCISCO, Jan. 7, 2022 /PRNewswire/ -- NerdWallet , Inc. (Nasdaq: NRDS), a website and app that provides consumers and small businesses with trustworthy financial guidance, announces the winners of its 2022 Best-Of Awards .
  • "Winners are chosen through a rigorous evaluation process involving a team of our NerdWallet writers and editors with years of experience reviewing and writing about personal finance products and services," said Hanah Cho, Vice President, Content at NerdWallet.
  • "The NerdWallet Best-Of Award validates these financial products as the top products available to consumers," said Kevin Yuann, Chief Business Officer at NerdWallet.
  • Below is a list of select winners from NerdWallet's 2022 Best-Of Awards.