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Home Loans in Self-Employment Segment Growing Rapidly, but at a Price

Home Loans in Self-Employment Segment Growing Rapidly, but at a Price

As per the data with the credit rating and analytics firm Crisil, home loans in the self-employed category have been growing at a rate of 33% in the past 4 years against the 20% overall growth in the entire home loan category.
In FY18, 30% of the mortgages were from the self-employed, compared to 20% in the year before. However, loan defaults are also increasing at a steady pace.
The gross non-performing assets (NPAs) in the self-employed segment increased to 1.1% in FY18 compared to only 0.7% a few years before.