INCOME TAX22 Sept 2026
Festive loan this year? 60% of borrowers’ EMIs nearly match their family income – what to check | Mint
A new survey by Expert Panel found 60% of borrowers have EMIs — equated monthly instalments — that nearly match or exceed their family income. Another 40% use fresh loans or credit cards to pay old EMIs. So a festive-season loan is not a standalone decision; it joins an already stretched budget. Check your current debt-to-income position before borrowing.
Key Statutory Highlights
- Expert Panel's survey found that 60% of borrowers have EMIs that either exceed or nearly equal their total monthly family income.
- About 40% of borrowers were managing existing EMIs by taking new loans or using credit cards.
- Around 35% of borrowers faced some form of harassment, and 20% had received legal notices from lenders.
Actionable Advice for Taxpayers / Founders:Before taking any festive loan, list every EMI you already pay and add them up against your monthly family income. If that total is already tight, consider postponing the loan or borrowing less instead of adding a fresh EMI.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
Share: