India, Nov. 26 -- Over the last few years, personal loans have evolved from primarily a last-resort credit option to becoming a convenient, adaptable, and quick financial tool that supports the aspirations of modern India. According to credit bureau CRIF High Mark, the share of personal loans above Rs.10 lakh rose from 28.2% in FY24 to 30.9% in FY25, reflecting a clear shift in how consumers are approaching this product.

As banks and lenders expand the scope of personal loans and diversify their use cases, this category continues to remain highly relevant for borrowers. With limited documentation, flexible tenure options, and faster disbursement, the personal loans are now being used for a wider set of lifestyle and wellness needs-includ...