Non-metros demands more unsecured credit loans then metros: Report

Non-metros have emerged to drive demand for unsecured credit, mostly personal loans, then the metros, says a survey. The unsecured credit portfolio includes personal loans and credit cards which are used more for consumption activities than secured loans.

The average personal loan ticket size in non-metros is Rs 2.80 lakh compared to Rs 2.55 lakh in the metros, the online financial products distributor Bankbazaar says in a survey which is based the behaviour of 169 million visitors to its website, the portal claimed in a report Tuesday. However, going by the highest ticket size, Bengaluru tops the list with a Rs 47.23 lakh loan size, while for non- metros, the same comes at Rs 25 lakh.

On the gender side, the average home loan ticket size for women is at a much higher Rs 27.57 lakh compared to Rs 22.97 lakh for men, it said, adding the highest loan amount availed by a woman is Rs 1.43 crore for a house in Mumbai. There is a 10.49 per cent increase in lifestyle credit card applications and an 89 per cent rise in fuel credit card applications from women, it said.

Women also outperform men in fulfilling their globetrotting aspirations, with a 73 per cent rise in travel credit card applications as against 71.5 per cent N by men. Possibly due to ease of availing of loans quickly, there is a 198 per cent increase in paperless approvals of personal loans, 11 per cent for credit cards and 38.3 per cent rise in car loans, says the report.

(With inputs from agencies.)