What does Bharat think
about digital lending?
Insight 1
There is a growing sense of trust around digital
lending
Easy accessibility coupled with flexible loan options attracts users to apps
90%
of the users liked that they could take loan anytime they wanted
70%
who had never taken a loan, said they would opt for digital lending
20%
of the users felt it was quick but still not without risks because of personal data shared
Loan ke baare me pahli baar hai, ise Hindi me hi rakhte hai
Satyam
Vegetable vendor, Varanasi, India
Preeti
Nurse
Varanasi, India
Rashmi
Nurse
Varanasi, India
Monu
Vegetable Vendor
Varanasi, India
Varsha
Nurse
Varanasi, India
Rajni
Nurse
Varanasi, India
Shubham
Vegetable Vendor
Varanasi, India
Insight 2
Users prefer 'spoken' language over 'literary' language
All users felt the Hindi used in apps had to be the spoken form of the language with a mix of English words
60%
of the users could not understand literary words like 'Paatrata', 'Dastaavej'
50%
could understand all the Hindi words but still preferred the language to be simplified
30%
preferred English words of common usage like 'Eligibility' over literary Hindi words
Paatrata to ham nahi samjhe..aap samjha dijiye. Ha yogyata ham samajh gaye.
Suman
Nurse, Varanasi, India
Varsha
Nurse
Varanasi, India
Akash
Fruit seller
Varanasi, India
Suman
Nurse
Varanasi, India
Monu
Vegetable Vendor
Varanasi, India
Shubham
Vegetable Vendor
Varanasi, India
Rishab
Momo seller
Varanasi, India
Insight 3
English words need to be used with discretion
Understandability of certain English words were low among users leading to apprehension to use the app
40%
of the users did not understand words like 'skip' and 'application'
60%
of the users felt English words enhanced explainability but only if the word was common in 'Hinglish' as well
20%
of the users confused 'credit' and 'application' for other usage of the same words
Skip likha hua hai...usase to hamein samajh nahi aa raha hai ki kya usase hoga.
Monu
Vegetable vendor, Varanasi, India
Satyam
Vegetable Vendor
Varanasi, India
Shubham
Vegetable Vendor
Varanasi, India
Suman
Nurse
Varanasi, India
Preeti
Nurse
Varanasi, India
Shubham
Vegetable Vendor
Varanasi, India
Insight 4
Knowledge of financial terms is low to nil among users
Users relied on additional assistance through audio-visual or verbal cues to understand financial terms
60%
of the users could not understand terms like EMI, Credit and Average Income
40%
of the users had prior knowledge of the loan process and therefore aware of financial terminologies
90%
of the users confused 'credit' and 'application' for other usage of the same words
EMI sir sune hai, par samajh nahi aata. Log bolte hai, TV par dikhate hai, par samajh nahi aata
Preeti
Nurse, Varanasi, India
Preeti
Nurse
Varanasi, India
Suman
Nurse
Varanasi, India
Satyam
Vegetable Vendor
Varanasi, India
