KSA Personal Loan Market Overview
According to SPER Market Research, the KSA Personal Loan Market is estimated to reach USD 922.76 billion by 2033 with a CAGR 16.57%.
A personal loan is a form of loan that individuals can obtain for personal purposes from a bank, credit union, or online lender. It is typically an unsecured loan, which implies that it is not secured by assets such as a car or a home. The loan is instead determined by the borrower's creditworthiness, income, and other variables. Personal loans can be utilised for a variety of objectives, such as debt consolidation, home improvements, medical bills, wedding costs, vacation spending, or any other personal financial need. When a personal loan is accepted, the borrower receives a lump sum of money from the lender and then repays the loan over a certain period of time, generally in monthly instalments.
Exploring the Growth Drivers of the KSA Personal Loan Market
Personal Loan in Saudi Arabia is becoming increasingly popular and there are several key factors which are driving the growth of Personal Loan Market over there. High demand for residential properties from expatriates entering the nation, as well as an increase in the number of government initiatives to modernise the financial system, are the growth drivers of the Saudi Arabia personal loan market. Furthermore, the advancement of digitization and the rapid lending and approval procedure is having a beneficial impact on the growth of the Saudi Arabia personal loan market. Also, a surge in the number of new participants in KSA personal finance is likely to provide lucrative prospects for the Saudi Arabia personal loan market to expand throughout the projection period.
What challenges does the KSA Personal Loan Market face?
While the Saudi Arabia personal loan market is a thriving and dynamic Market, there are also several challenges that companies in this sector face. One of the challenges is, the tight regulations on the personal lending sector in Saudi Arabia implemented by the Saudi Arabian Monetary Authority (SAMA), thus reducing loan availability. Furthermore, personal loans in the country have high interest rates when compared to other countries, making borrowing expensive and discouraging for people with lower incomes or poor credit histories. Lenders have stringent creditworthiness requirements, making it difficult for persons with a short credit history or low incomes to qualify for loans. Cultural views concerning debt impede the personal loan market even more. Borrowers have fewer options and less competitive interest rates due to limited competition from a few major banks.
In what ways has the COVID-19 pandemic affected KSA Personal Loan Market?
The COVID-19 pandemic has an impact on the Saudi Arabia personal loan industry through an economic slump, increased demand for personal loans, stricter lending standards, government support measures, digital transformation, and a focus on financial literacy. Individuals are finding it more difficult to repay or qualify for additional loans as a result of economic issues, job losses, and reduced incomes.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Type, By Marital Status, By Consumer Age, By End-User
|
| Regions covered | Eastern Region, Northern Region, Southern Region, Western Region, Central Region
|
| Companies Covered | Abdul Latif Jameel United Finance Company, Al Rajhi Bank, Alinma Bank, Arab National Bank, Bank Albilad, Banque Saudi Fransi, Emirates NBD Bank, Emkan Finance Company, Nayifat, Quara Holding, Riyad Bank, SAAB, Tamam Finance, SNB.
|
Key Target Audience:
- Individuals in need of immediate Financial Assistance
- Individuals looking to consolidate debt
- Small Business owners and entrepreneurs
- Expatriate Residents
- Others
KSA Personal Loan Market Segmentation:
1. By Type:
- KSA Personal Loan Market Value Share and Forecast, By Type, 2023-2033
- P2P Marketplace
- Balance Sheet
2. By Marital Status:
- KSA Personal Loan Market Value Share and Forecast, By Marital Status, 2023-2033
- Married
- Single
- Others
3. By Consumer Age:
- KSA Personal Loan Market Value Share and Forecast, By Consumer Age, 2023-2033
- Less than 30
- 30-50
- More than 50
4. By End-User:
- KSA Personal Loan Market Value Share and Forecast, By End-User, 2023-2033
- Salaried
- Male
- Female
- Business
- Others
5. By Region:
- Eastern Region
- Northern Region
- Southern Region
- Western Region
- Central Region
Key Topics Covered in the Report:
- KSA Personal Loan Market Size (FY’2023-FY’2033)
- Overview of KSA Personal Loan Market
- Segmentation of KSA Personal Loan Market By Type (P2P Marketplace, Balance Sheet)
- Segmentation of KSA Personal Loan Market By Marital Status (Married, Single, Others)
- Segmentation of KSA Personal Loan Market By Consumer Age (Less than 30, 30-50, More than 50)
- Segmentation of KSA Personal Loan Market By End-User (Salaried, Male, Female, Business, Others)
- Statistical Snap of KSA Personal Loan Market
- Growth Analysis of KSA Personal Loan Market
- Problems and Challenges in KSA Personal Loan Market
- Competitive Landscape in the KSA Personal Loan Market
- Impact of COVID-19 and Demonetization on KSA Personal Loan Market
- Details on Recent Investment in KSA Personal Loan Market
- Competitive Analysis of KSA Personal Loan Market
- Key Players in the KSA Personal Loan Market
- SWOT Analysis of KSA Personal Loan Market
- KSA Personal Loan Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the KSA Personal Loan Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. KSA Personal Loan Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in KSA Personal Loan Market
7. KSA Personal Loan Market, By Type (USD Million)
7.1. KSA Personal Loan Market Value Share and Forecast, By Type, 2023-2033
7.2. P2P Marketplace
7.3. Balance Sheet
8. KSA Personal Loan Market, By Marital Status (USD Million)
8.1. KSA Personal Loan Market Value Share and Forecast, By Marital Status, 2023-2033
8.2. Married
8.3. Single
8.4. Others
9. KSA Personal Loan Market, By Consumer Age (USD Million)
9.1. KSA Personal Loan Market Value Share and Forecast, By Consumer Age, 2023-2033
9.2. Less than 30
9.3. 30-50
9.4. More than 50
10. KSA Personal Loan Market, By End-User (USD Million)
10.1. KSA Personal Loan Market Value Share and Forecast, By End-User, 2023-2033
10.2. Salaried
10.3. Male
10.4. Female
10.5. Business
10.6. Others
11. KSA (Saudi Arabia) Personal Loan Market Forecast, 2019-2033 (USD Million)
11.1. KSA Personal Loan Market Size and Market Share
12. KSA Personal Loan Market, By Type, 2019-2033 (USD Million)
12.1. KSA Personal Loan Market Size and Market Share by Type (2019-2026)
12.2. KSA Personal Loan Market Size and Market Share by Type (2027-2033)
13. KSA Personal Loan Market, By Marital Status, 2019-2033 (USD Million)
13.1. KSA Personal Loan Market Size and Market Share by Marital Status (2019-2026)
13.2. KSA Personal Loan Market Size and Market Share by Marital Status (2027-2033)
14. KSA Personal Loan Market, By Consumer Age, 2019-2033 (USD Million)
14.1. KSA Personal Loan Market Size and Market Share by Consumer Age (2019-2026)
14.2. KSA Personal Loan Market Size and Market Share by Consumer Age (2027-2033)
15. KSA Personal Loan Market, By End-User, 2019-2033 (USD Million)
15.1. KSA Personal Loan Market Size and Market Share by End-User (2019-2026)
15.2. KSA Personal Loan Market Size and Market Share by End-User (2027-2033)
16. KSA Personal Loan Market, By Region, 2019-2033 (USD Million)
16.1. KSA Personal Loan Market Size and Market Share by Region (2019-2026)
16.2. KSA Personal Loan Market Size and Market Share by Region (2027-2033)
16.3. Eastern Region
16.4. Northern Region
16.5. Southern Region
16.6. Western Region
16.7. Central Region
17. Company Profile
17.1. Abdul Latif Jameel United Finance Company
17.1.1. Company details
17.1.2. Financial outlook
17.1.3. Product summary
17.1.4. Recent developments
17.2. Al Rajhi Bank
17.2.1. Company details
17.2.2. Financial outlook
17.2.3. Product summary
17.2.4. Recent developments
17.3. Alinma Bank
17.3.1. Company details
17.3.2. Financial outlook
17.3.3. Product summary
17.3.4. Recent developments
17.4. Arab National Bank
17.4.1. Company details
17.4.2. Financial outlook
17.4.3. Product summary
17.4.4. Recent developments
17.5. Bank Albilad
17.5.1. Company details
17.5.2. Financial outlook
17.5.3. Product summary
17.5.4. Recent developments
17.6. Banque Saudi Fransi
17.6.1. Company details
17.6.2. Financial outlook
17.6.3. Product summary
17.6.4. Recent developments
17.7. Emirates NBD Bank
17.7.1. Company details
17.7.2. Financial outlook
17.7.3. Product summary
17.7.4. Recent developments
17.8. Emkan Finance Company
17.8.1. Company details
17.8.2. Financial outlook
17.8.3. Product summary
17.8.4. Recent developments
17.9. Nayifat
17.9.1. Company details
17.9.2. Financial outlook
17.9.3. Product summary
17.9.4. Recent developments
17.10. Quara Holding
17.10.1. Company details
17.10.2. Financial outlook
17.10.3. Product summary
17.10.4. Recent developments
17.11. Riyad Bank
17.11.1. Company details
17.11.2. Financial outlook
17.11.3. Product summary
17.11.4. Recent developments
17.12. SAAB
17.12.1. Company details
17.12.2. Financial outlook
17.12.3. Product summary
17.12.4. Recent developments
17.13. Tamam Finance
17.13.1. Company details
17.13.2. Financial outlook
17.13.3. Product summary
17.13.4. Recent developments
17.14. SNB
17.14.1. Company details
17.14.2. Financial outlook
17.14.3. Product summary
17.14.4. Recent developments
17.15. Others
18. List of Abbreviations
19. Reference Links
20. Conclusion
21. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
