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.