International Women's Day 2024: After gold, women have taken most loans in these 3 segments
International Women's Day 2024: The share of women borrowers increased to 44 per cent in the segment, up 200 bps on a year-on-year basis.
International Women's Day 2024: The number of women borrowers is increasing at a far quicker pace than men borrowers. According to data from credit information bureau CRIF, the number of women borrowers with active retail loan accounts stood at 7.83 crore at the end of December 2023, marking an increase of 17.8 per cent on a year-on-year basis. On the contrary, the number of men borrowers rose 13.1 per cent to 20.17 crore.
Gold loans were the most popular segment among women borrowers. The share of women borrowers increased to 44 per cent in the segment, up 200 bps on a year-on-year basis. Gold loans were followed by education loans (36 per cent vs 35 per cent a year ago) and home loans (33 per cent vs 32 per cent).
Here's a lowdown on the top retail loan categories among women borrowers:
Gold loan
Gold loan: Women held an outstanding 44 per cent share in gold loans across major retail loans in terms of overall portfolio outstanding, and 43 per cent in terms of active loans as against 41 per cent a year ago.
Education loan
Education loan: In the education loan segment, women borrowers recorded a share of 36 per cent and in terms of overall portfolio outstanding as well as active loans.
Home loan
Home loan: Women borrowers accounted for 33 per cent of retail loans by overall portfolio outstanding and 32 per cent by active loans, a share that stood 100 bps below each a year ago.
Property loan
Property loan: Women borrowers’ share in property loans improved by 100 bps and 200 bps to 30 per cent and 33 per cent by overall portfolio outstanding and active loans respectively.