Home Loan Industry in India: Opportunities within Emerging Search Trends


India’s home loan industry has shown significant growth YoY, starting FY’20. More and more, people are applying for home loans and investing in personal real estate – a trend reflected in the searches for this product. The latest searches related to home loans include inquiries about home loan interest rates, the EMI calculator, and comprehensive lists of interest rates across various banks. Addressing these growing consumer queries poses a crucial task for lending institutions.

But how should NBFCs, banks, and lending institutions use these search patterns to bolster their digital marketing strategies and drive measurable results? A report on home loan search trends from Techmagnate, a leading digital marketing agency in New Delhi, sheds light on these questions.

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According to a recent CRIF Highmark report, the home loan market has soared to an astounding 22.4 lakh crore in FY’21, marking a significant 12.1% increase from FY’20.

From 2017 to 2021, this market witnessed an impressive 32% Compound Annual Growth Rate (CAGR). Moreover, forecasts indicate an even more robust trajectory, with experts expecting a projected 22% CAGR between 2021 and 2026.

Other reports indicate that the growth of the housing loan market in India is being driven by the volume and increasing ticket sizes, with metro cities leading the way.

But what’s propelling this market? Post-pandemic, there’s a renewed drive among people to invest in housing. Despite the concurrent rise in interest rates, people remain eager to apply for home loans, indicating a sustained demand in the wake of the pandemic.

This trend is also reflected in the Search Trends Report for the home loan industry released by Techmagnate, a leading digital marketing agency in India. In this environment, non-banking financial companies (NBFCs), traditional banks, and lending institutions have an unparalleled opportunity to harness the surging search trends in the home loan market and start connecting with their audiences quickly and profitably.

The data in this report shows brands valuable opportunities they can leverage to boost online visibility and attract home loan customers.

Search Trends in the Home Loan Industry

Techmagnate’s comprehensive Home Loan Search Trends Report offers valuable insights into evolving customer behaviors.

Search Trends in the Home Loan Industry

With a meticulous analysis of over 8,000 keywords, scrutinizing brand versus non-brand queries and their volumes, this detailed study highlights significant growth in overall search volumes for various home loan buckets.

As we can see in the above table, the number of searches for “Home Loans” surged by10% in FY’23 compared to 2022. This data suggests a growing need for brands to strengthen their strategies in anticipation of growing competition and to tailor their approaches to attract prospective mortgage buyers.

Top 10 Home Loan Brands by Search Volumes

The in-depth study in the report shows the dominance of the Top 20 brands within the Home Loan sector. But in this article, we have kept the focus on the top 10 brands.

Nationally renowned brands like HDFC Bank exhibited a robust 11.34% growth in search volumes. Other brands like SBI Bank and LIC Housing Finance also maintained considerable search volumes, showcasing consistent growth rates.

On the other hand, brands like Indiabulls Housing Finance and Kotak Mahindra Bank witnessed a decline in search volumes, signifying changing consumer preferences.

Top 10 Home Loan Brands by Search Volumes
Top 10 Home Loan Brands by Search Volumes
  • HDFC emerges as the clear leader, maintaining the top spot with significant search volume and a market share of 34%.
  • LIC Housing experienced the most impressive growth in FY23 as compared to FY22, solidifying its position as a significant competitor.
  • Indiabulls Housing faces a dramatic decline, highlighting the dynamic nature of the market and the importance of adapting evolving digital strategies.
  • Private banks like Kotak Mahindra Bank andICICI Bank have experienced slight dips in search volumes, suggesting they might need to re-evaluate their online presence and SEO strategies.
  • The market overall shows healthy growth, indicating a growing interest in housing finance and potential opportunities for all players.

For the full list of 20 brands, download Techmagnate’s Home Loan Search Trends Report

Sarvesh Bagla, CEO and Founder of Techmagnate says, “The data clearly shows that overall searches for ‘home loans’ have increased by 10%, which corroborates with the growth in the home loan market. This is an opportunity for new and rising players to develop their marketing strategies using these search insights.

Meanwhile, the old favorites can expand their market ownership by catering to app searches.Searches for terms like“sbi home loan app” and“hdfc home loan app”surged by 23%, capturing an impressive 84% of the market share. This suggests a growing trust and recognition of established brands in the digital home loan app space.”

Home Loan Industry Trends: 3 Niche Insights to Explore

The home loan landscape has expanded beyond traditional physical locations and ventured into the digital sphere. It’s now essential for all involved parties to comprehend these evolving trends.

The search trends report reveals three specific insights that demonstrate the ongoing transformation within the home loan industry.

What exactly are these insights? Let’s discuss.

1. Apps are the New Battleground

Home loan apps have become the focal point for home loan buyers rather than just a convenience.Searches for home loan apps are rapidly increasing, indicating a desire for seamless, on-the-go mobile experiences. Brand-related app searches are dominating the market by 84.23%, indicating higher levels of trust for known players.

Brand-related app searches are dominating the market
Brand-related app searches are dominating the market

Leveraging this opportunity, these big names can further reinforce their dominance by developing user-friendly and feature-rich apps.

On the other hand, app-based searches also open up opportunities for new players to push forward with user-centric innovations.

2. Localized Solutions for an Impact Across India

People everywhere dream of owning homes, not just in busy cities. This dream is growing in smaller cities too, as seen in the rise of local searches for home loans. While big names like HDFC and Axis account for only 18.99% of these searches using phrases like“hdfc home loan near me,”something interesting is happening.

Non-brand searches such as“home loans near me” or“home loan lenders near me,” are shooting up, making up a huge 81.01% of all local searches.

Non-brand searches such as"home loans near me" or"home loan lenders near me," are shooting up
Non-brand searches such as”home loans near me” or”home loan lenders near me,” are shooting up

This change of preferring local home loan providers irrespective of brand names is a great chance for companies to adapt their local strategies. They can focus on specific demographic needs and build trust in local markets. This can unlock a lot of potential in the growing regional homeownership scene.

3. Emergence of Vernacular Communication

Searches in local languages like Hindi, Tamil, and Marathi are gaining traction, reflecting diverse borrower preferences.

Brand-specific keywords in vernacular languages surged by 40%, marking a total of 11% market share. However, generic inquiries continued their dominance, experiencing a 16% increase and holding an overwhelming 89% market share.

Emergence of Vernacular Communication
Emergence of Vernacular Communication

Embracing vernacular communication is essential for brands who want to connect with a broader audience and foster deeper relationships.

These insights offer a glimpse into the dynamic transformation the home loan industry is going through. Understanding these digital shifts and adjusting strategies accordingly will empower players to adapt and excel in this evolving home loan market.

Furthermore, integrating these home loan search trends insights into digital marketing strategies becomes crucial for lending institutions. To thrive in a competitive market, brands must adapt to evolving consumer behaviors, and brand visibility, and capitalize on the burgeoning demand for Home Loans across India.

Digital Marketing Strategies for Brands to Consider

  • Target high-volume, branded keywords like“HDFC Easy Home Loan” and broader terms like“home loan calculator.” That’s what most people are searching for.
  • Create informative content in local languages like“home loan tips in Hindi.”Vernacular content connects better with regional audiences.
  • Run targeted PPC ads and retarget website visitors with personalized offers.
  • Big brands should optimize their apps for user-friendliness and better app store visibility.
  • Build a stronger social media presence with engaging content and targeted campaigns.

Bonus tip: Track and analyze the results of campaigns regularly to optimize your digital marketing efforts.

As the search landscape continues to evolve, it’s advantageous for brands to know the trends to help formulate effective digital marketing strategies. Here are themotor insurance search trends, giving unique insights into how users’ search behavior and how they search for the term.

Home Loan Search Trends for a Competitive Advantage

In India’s changing home loan environment, using data-driven insights alongside creative digital marketing can lead to great success.

By adapting to the shifting preferences of consumers and leveraging niche opportunities, NBFCs, banks, and lending institutions can stay ahead of the competition and also contribute to the financial empowerment of a diverse and growing market.

Home loan providers looking to harness these evolving trends must work with a top digital agency like Techmagnate who have decades of proven expertise in implementing effective strategies leading to brand growth.

Disclaimer: This article is a paid publication and does not have journalistic/editorial involvement of Hindustan Times. Hindustan Times does not endorse/subscribe to the content(s) of the article/advertisement and/or view(s) expressed herein. Hindustan Times shall not in any manner, be responsible and/or liable in any manner whatsoever for all that is stated in the article and/or also with regard to the view(s), opinion(s), announcement(s), declaration(s), affirmation(s) etc., stated/featured in the same. The article does not constitute financial advice.

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