Fibe, a fintech platform, has revealed that women are 10 per cent more likely to make timely EMI repayments than their male counterparts, which indicates a greater sense of responsibility in credit borrowers. The study was conducted to commemorate International Women's Day where the research highlights women's consciousness while handling debt and their careful decision-making practices. This showcases their commitment to responsible debt management.
"We conducted this study to get knowledge about the evolving nature of consumer credit behavior and ensure our products and services meet the diverse needs of the customers. The rise in loan demand and their impressive repayment record demonstrate their determination to achieve their objectives and their recent financial independence," mentions Fibe Co-founder & CEO, Akshay Mehrotra.
The study also mentioned a significant rise in credit demand from new-to-credit female customers, from 18 per cent in 2019 to 40 per cent in 2023 whereas a sudden decrease of 22 per cent in demand from male NTC customers over the past five years.
The survey further reveals that 32 per cent of female borrowers are NTC customers, with 13 per cent frequenting loans, 18 per cent non-credit card holders, and 22 per cent having limited credit histories, indicating an expanding presence driven by aspirations.
