Consumer-durable loans lead India’s new-credit borrower growth: CRIF
Consumer-durable loan originations rose 27.4% year-on-year to 2.9 crore in Q1 FY27, with origination value up 36.6%. The category accounted for 45.5% of new-to-credit borrower volumes, while outstanding loans reached Rs 1.2 lakh crore in June 2026.
What happened
CRIF reports consumer-durable financing is India’s biggest new-borrower acquisition channel, with originations up 27.4% year-on-year. Gold and home loans drove
Key facts
- Consumer-durable loan originations rose 27.4% year-on-year to 2.9 crore
- Consumer-durable loan origination value rose 36.6%
- Consumer-durable loans represented 45.5% of new-to-credit borrower volumes
- Consumer-durable loan outstanding reached Rs 1.2 lakh crore in June 2026 versus Rs 89,300 crore a year earlier
- Gold-loan originations fell 4.5% year-on-year to 3.7 crore
What changed
CRIF reports consumer-durable financing is India’s biggest new-borrower acquisition channel, with originations up 27.4% year-on-year. Gold and home loans drove outstanding portfolio value, but their quarterly origination volumes declined sharply.
Why this matters
Consumer-durable financing is expanding rapidly, making embedded credit, checkout partnerships and disciplined collections increasingly important levers for retail conversion and repeat sales.
What to watch
- 30+ and 90+ day past-due trends in consumer-durable portfolios as Q1 FY27 cohorts season over the next two to four quarters.
- Average ticket size, loan tenure, down-payment share and zero-cost EMI penetration; rising ticket sizes paired with longer tenures would increase repayment risk.
- Credit-bureau evidence of concurrent personal-loan, credit-card or BNPL borrowing among new-to-credit durable-loan customers.
- RBI or lender actions on unsecured-credit risk weights, provisioning, bureau reporting or underwriting standards.
- Festival-season sales growth versus finance approval rates and retailer promotional spend.