new Delhi: women proving to be better borrowers Since they display higher credit consciousness and better credit scores than their male counterparts, a study by TransUnion sybil revealed. By 2021, 53% of the 54 million female borrowers had CIBIL scores in the prime category (with credit scores of 731-770) and higher than 47% for men.
The delinquency rate for female borrowers in retail loan products was pegged at 5.2%, while it was 6.9% for their male counterparts.
In addition, the report noted that female borrowers have been growing rapidly in recent years – 29% annually. They had 29% of borrowers, compared to a quarter of borrowers in 2016.
Arrears Loan The amount also increased at 20% compound annual (CAGR) to Rs 12.4 lakh crore which is 23% of the total outstanding retail credit balance 5 lakh crore in 2021 or 21% in 2016.
Banks see women as a major target segment, as credit penetration remained low, despite doubling to 12% between 2016 and 2021.
The report also noted that the growth of female borrowers has remained strong during the pandemic, with female borrowers showing a strong growth of 11% as against 6% male borrowers by 2021. TransUnion Cibil Insights has also indicated an expansion in the footprint of women. Borrowers in semi-urban and rural locations with a CAGR of 21% between 2016 and 2021, compared to a growth of 16% in metro and urban areas.
The delinquency rate for female borrowers in retail loan products was pegged at 5.2%, while it was 6.9% for their male counterparts.
In addition, the report noted that female borrowers have been growing rapidly in recent years – 29% annually. They had 29% of borrowers, compared to a quarter of borrowers in 2016.
Arrears Loan The amount also increased at 20% compound annual (CAGR) to Rs 12.4 lakh crore which is 23% of the total outstanding retail credit balance 5 lakh crore in 2021 or 21% in 2016.
Banks see women as a major target segment, as credit penetration remained low, despite doubling to 12% between 2016 and 2021.
The report also noted that the growth of female borrowers has remained strong during the pandemic, with female borrowers showing a strong growth of 11% as against 6% male borrowers by 2021. TransUnion Cibil Insights has also indicated an expansion in the footprint of women. Borrowers in semi-urban and rural locations with a CAGR of 21% between 2016 and 2021, compared to a growth of 16% in metro and urban areas.