Women more credit conscious than men: Report
SECTIONS
Share
Synopsis
With 4.7 crore active woman borrowers, 61% of the women consumers have a credit score greater than 720, whereas only 56% of male consumers have a CIBIL score greater than or equal to 720, according to the latest report by Transunion Cibil.
Agencies
In terms of types of loans, Women demand is more for personal loans and consumer durable loans with 38% of enquiries by women coming for these two loan products during calendar year 2020.
Women are turning out to be more creditworthy than men as they have a higher credit score of 720 on an average compared to a score of 709 for the male population, according to a report by credit bureau Transunion Cibil, which says women monitor their credit scores more regularly. Also, the number of women borrowers have grown at a faster pace than men over the last six years.
Women Borrowers form 28% of India s Retail Credit Consumer Base prokerala.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prokerala.com Daily Mail and Mail on Sunday newspapers.