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- The amount returned on time, the number of female borrowers is increasing in the country, revealed in the research
7 hours ago
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In two separate research on borrowers, it has been revealed that it is safer to give loans to women than to men. Banks also understand this. This is the reason why the number of women borrowers has increased faster than men in the last few years. After the research of CIRF Highmark and Trans Union CIBIL came to the fore, now the confidence of the lenders on women can increase further.
Banks have also shown more interest in lending to women in the last few years.
Women borrowers grew at the rate of 19% in the last five years
Banks also show more interest in giving loans to women. According to research by trans union CIBIL, the number of women borrowers has grown at a rate of 19% in the last five years. While the number of male borrowers grew at a rate of only 14% during the same period.
In 2021, even after the Corona epidemic, the number of women taking loans in the country increased by 11%. For men, this figure was only 6%.
Even ahead of men in terms of repayment of debt
Women are better than men not only in taking loans but also in repayment. According to research by trans union CIBIL, 6.9% of men delay loan repayments by more than 90 days. Whereas only 5.2% of women do this in comparison. The average credit score of women is also higher than that of men.
Women have more confidence in gold loan
Women in the country prefer to take gold loans, consumer loans and personal loans. However, research has also revealed that the average loan amount taken by women has come down in the last 5 years. In 2016, a woman was taking an average loan of Rs 1,48,700. But in 2021 this amount came down to Rs 1,45,600.
‘It is good for the country’s economy to take loans of women’
Harshla Chandorkar, Chief Operating Officer, Trans Union CIBIL said that taking loans of women can prove to be very beneficial for the economy and social development of the country. This is a right sign in the direction of a 5 trillion dollar economy.