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Wednesday, April 14, 2021

‘Indian women prefer home loans more, average ticket size higher than that of men’

As of December-end 2020, of the Rs 20.6-lakh crore home loan market, 29 per cent was accounted for by women as compared to 16 per cent each in the case of personal loans (market size of Rs 5.95-lakh crore) and auto loans (Rs 4.58-lakh crore), the CRIF study said.

By: ENS Economic Bureau | New Delhi |
March 5, 2021 3:03:24 am
The average home loan ticket size for women was higher at Rs 16.69 lakh in December 2020 (Rs 16.38 lakh as of December-end 2019) against Rs 14.71 lakh (Rs 14.45 lakh a year ago) for men.

The average home loan and auto loan ticket size of women is higher when compared to their male counterparts, as per an analysis by credit information bureau CRIF High Mark.

As of December-end 2020, of the Rs 20.6-lakh crore home loan market, 29 per cent was accounted for by women as compared to 16 per cent each in the case of personal loans (market size of Rs 5.95-lakh crore) and auto loans (Rs 4.58-lakh crore), the CRIF study said. “Indian women are availing more credit in the form of home loans as compared to personal and auto loans.”

The average home loan ticket size for women was higher at Rs 16.69 lakh in December 2020 (Rs 16.38 lakh as of December-end 2019) against Rs 14.71 lakh (Rs 14.45 lakh a year ago) for men. “Size of home loans borrowed by women is 13 per cent higher than those borrowed by men, both having seen a growth of 2 per cent over the last year,” it said.

The study said women borrowers from southern states have higher credit book size as against those in western and northern states. “The share of top 5 states in the personal loan portfolio outstanding for women has increased by 18 per cent over the previous year, while that for auto loans has reduced by 3 per cent and increased by 6 per cent for home loans as of December 2020.”

The book size of home loans availed by women in Karnataka has surpassed that of Tamil Nadu in the span of one year. The top five states with largest personal loans portfolio outstanding for male borrowers are Maharashtra, Tamil Nadu, Karnataka, Uttar Pradesh and Telangana, as of December 2020, CRIF High Mark said.

For auto loans, top five states with largest portfolio outstanding for male borrowers are Maharashtra, Uttar Pradesh, Gujarat, Karnataka and Tamil Nadu.

The share of women across the major loan types has not seen a significant difference in the volume of loans disbursed in the three quarters of FY21 under the pandemic, although the share across all products has increased over pre-pandemic Q3 of FY20.

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