Women borrow the majority of loans for gold, education, and homes

Mumbai: Gold and education loans have the highest percentages of female borrowers among retail loan categories, while two-wheeler loans have the lowest. By value, the proportion of female borrowers in retail loans has increased from 25.3% in December 2021 to 26% in December 2022.

The report from the credit bureau CRIF High Mark says that women take out 42% of gold loans. Given that women's jewelry is the primary security for gold loans, this is understandable. Ladies are additionally getting something else for schooling, with 35% of training advances (in esteem terms) being taken by ladies. The offer increased by from 34% in 2021.

Women now account for 32% of home loans, up from 31% last year, making them the third most common type of loan for women.

As of December 2022, the portfolio of retail loans taken out by women stood at Rs 26 lakh crore, up 25% from Rs 20.7 lakh crore in December 2021.

The average ticket size for all major retail loans, with the exception of personal loans, has increased for women borrowers in 2022, according to the report. The average personal loan amount for women has decreased by 17% to Rs 70,000.

Maharashtra is the state with the highest credit exposure for female borrowers applying for home loans, business loans, loans against property, auto loans, and consumer durables as of December 2022, in terms of value. For female borrowers seeking personal loans, gold loans, education loans, and two-wheeler loans, Tamil Nadu ranks highest. In terms of agricultural and tractor loans, Andhra Pradesh comes out on top.