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Indian women are availing more credit in the form of home loans (HL) compared to personal loans (PL) and auto loans (AL), according to an analysis by credit information bureau CRIF High Mark.
Further, their average home loan and auto loan ticket size is higher vis-a-vis their male counterparts.
As of December-end 2020, of the ₹20.6-lakh crore home loan (HL) market, 29 per cent was accounted for by women vis-a-vis 16 per cent each in the case of personal loans (market size: ₹5.95-lakh crore) and auto loans (₹4.58-lakh crore), according to a CRIF study.
The average HL ticket size for women was higher at ₹16.69 lakh (₹16.38 lakh as of December-end 2019) against ₹14.71 lakh (₹14.45 lakh) for men.
The average AL ticket size for women was higher at ₹4.90 lakh (₹4.79 lakh as of December-end 2019) against ₹4.55 lakh (₹4.46 lakh) for men.
However, the average PL ticket size for women was lower at ₹1.59 lakh (₹1.68 lakh as of December-end 2019) against ₹1.61 lakh (₹1.79 lakh) for men.
Distribution of loans
In calendar year 2020, women in the age group of 26-35 accounted for 40.49 per cent of the total loans disbursed (41.10 per cent in 2019), followed by those in the 36-50 age bracket (34.75 per cent vs 34.86 per cent), 22-25 age bracket (10.47 per cent vs 10.55 per cent) and 51-60 age bracket (9.49 per cent vs 8.74 per cent).
The bureau observed that the share of loans availed by younger women borrowers has become two times to 10 per cent intwo years.
CRIF said 6.26 crore women borrowers have a retail credit footprint, accounting for 23 per cent of the overall 28.93 crore retail borrower base.
Active loans
Active personal loans to women borrowers spiked by 23 per cent year-on-year (y-o-y) as of December-end 2020 to 64.82 lakh (52.79 lakh as of December-end 2019), while that for home loans increased by 5 per cent y-o-y to 43.54 lakh (41.59 lakh).
Active auto loans to women borrowers have reduced by 4 per cent y-o-y to 18.18 lakh (19.02 lakh).
CRIF said women borrowers from southern States have higher credit book size compared to western and northern States.
While Maharashtra retains the top position when it comes to women home loan borrowers, with an outstanding portfolio of ₹1,37,845 crore (₹1,31,591 crore), the book size of home loans availed by women in Karnataka (₹65,012 crore vs ₹60,731 crore) has surpassed that of Tamil Nadu (₹65,005 crore vs ₹ 61,215 crore) in one year.
In the personal loans segment, Tamil Nadu retains the top position, with a female portfolio outstanding of ₹12,993 crore (₹10,908 crore), followed by Maharashtra (₹11,602 crore vs ₹10,259 crore) and Karnataka (₹8,869 crore vs ₹7,691 crore).
In the auto loans segment, Maharashtra retains the top position, with a female portfolio outstanding of ₹7,308 crore (₹7,681 crore), followed by Karnataka (₹6,906 crore vs ₹7,076 crore) and Tamil Nadu (₹6,407 crore vs ₹6,927 crore).
Loans during pandemic
CRIF said a total of 1.8 crore loans (to both male and female) – split into 18 lakh auto loans, 15 lakh home loans and 1.5 crore personal loans – were given out in the first three quarters of FY21.
This was nearly 40 per cent lower than the volume of loans disbursed in the first three quarters of FY20at 2.97 crore.
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