Millennial women take more loans than men
While more women are financially independent, incentives play a role too
The ratio of borrowers among women is skewed in favour of salaried women, according to a survey
Millennials are borrowing more, primarily to finance their lifestyles, but women are leading the charge. “We have witnessed more and more women, especially millennials, opting for loans. We have seen an increase of 15-18% in women taking loans in the past two years. We believe this healthy increase is mainly because they are becoming independent when it comes to making financial decisions," said Ketan Patel, CEO, CASHe, an online lending company. A study by TransUnion CIBIL revealed that there was a 48% growth in credit applications among women borrowers between 2015 and 2018.