Non-metros lead unsecured loan market in volume game; 10.49% increase in lifestyle credit card applications: Report

Mumbai: Non-metros have emerged to drive demand for unsecured credit, mostly personal loans, than 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. [caption id=“attachment_4437481” align=“alignleft” width=“380”] Representational image. Reuters.[/caption] 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 percent increase in lifestyle credit card applications and an 89 percent rise in fuel credit card applications from women, it said. Women also outperform men in fulfilling their globetrotting aspirations, with a 73 percent rise in travel credit card applications as against 71.5 percent by men. Possibly due to ease of availing of loans quickly, there is a 198 percent increase in paperless approvals of personal loans, 11 percent for credit cards and 38.3 percent rise in car loans, says the report.     To keep watching India’s No. 1 English Business News Channel – CNBC-TV18, call your Cable or DTH Operator and ask for the Colors Family Pack (inclusive of 24 channels), available for Rs. 35/- per month, or subscribe to the channel for Rs. 4/- per day. To keep watching the Leader in Global Market & Business News – CNBC-TV18 Prime HD, call your Cable or DTH Operator and ask for the Colors Family HD Pack (inclusive of 25 channels), available for Rs. 50/- per month, or subscribe to the channel for Rs. 1/- per day.