Indian Women Outperform Men In Timely Loan Repayments: Study Reveals Key Trends

Ahead of International Women’s Day, fintech platform Fibe has revealed interesting findings about the credit behaviour among female borrowers. The study indicated women are more responsible credit borrowers as they are 10% more likely to repay the EMI on time compared to male borrowers.

The study said that this reflects their conscientious approach to debt and prudent decision-making habits, underscoring their commitment to sound financial management.

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The study further indicated that the credit demand among New-to-credit (NTC) women customers has more than doubled over the last five years. The survey indicates this increase from 18% in 2019 to 40% in 2023.

In contrast, there was a 22% decline among male NTC customers with the demand going down from 82% in 2019 to 60% in 2023.

Fibe study further revealed interesting trends around the credit profile of women borrowers. Of all the women borrowers, NTC customers make up the largest share at 32%.

Women who own a credit card and regularly avail loans represent 13% whereas women who do not own a credit card but opt for other loans represent 18%.

22% of women account for those who have a limited credit history. This trend demonstrates the growth of female credit borrowers in the country to fulfil their aspirations.

Besides, the study further highlighted the responsible borrowing behaviour among women indicating that the age for availing a first loan has gone up over the last five years for NTC customers.

The average age for taking a first loan has increased from 26 years in 2019 to 31 years in 2023.

Akshay Mehrotra, co-founder and CEO, Fibe, said, “We conducted this study to understand evolving consumer credit behaviour and ensure our products and services meet the diverse needs of our customers. The surge in credit demand coupled with their outstanding repayment track record showcases newfound financial independence and determination to fulfil their aspirations.”