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Number Of Women Borrowers Grew More Rapidly Than Men In Last 5 Years, Have Better Risk Profile: Study outlookindia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from outlookindia.com Daily Mail and Mail on Sunday newspapers.
Credit-wary women up home loan share Top Searches Credit-wary women up home loan share TNN / Updated: Mar 9, 2021, 05:25 IST FacebookTwitterLinkedinEMail MUMBAI: Women have sharply increased their share of home loans, but have turned averse to personal loans and credit cards in the wake of the pandemic. Women are also more closely monitoring their credit scores, according to a study by TransUnion Cibil. A report released by the credit bureau on Women’s Day shows that in 2019, women accounted for 23% of consumer loans. This dipped by 400 basis points (100bps = 1 percentage point) to 19% in 2020. Similarly, credit card enquiries by women dipped from 13% to 12% during the same period. However, when it comes to home loans, women have increased their share to 11% from 9% in 2019. ....
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. ....