CrimeaPRESS reports:
The United Credit Bureau conducted an analysis of the financial behavior of male and female borrowers for 2023: who showsOgreater financial literacy when it comes to loans, and how to assess their need, including amounts and purposes?
The general conclusion will appeal to the fairer sex: they turned out to be very responsible and handle credit management better than men. In most cases, they have a higher individual credit score, lower debt levels, and fewer late payments.
The individual credit rating of women is on average higher than that of men: 494 points versus 441. Moreover, among borrowers with a low IFR (1 – 532 points) there are 12% fewer women, and among borrowers with an average and higher credit rating (533 – 999 points) ) there are 5% more women.
Female borrowers are 11% less likely to be in arrears of 30 days or longer than men. The total amount of debt that female representatives could afford in 2023., as much as 28% less than the male half of the Russian population. The average amount of long-term delay allowed by women is 16% less than that allowed by men: 263 versus 305 thousand rubles.
In addition, Russian women take out smaller amounts on credit, regardless of the type of loan. So in 2023 issued to female borrowers POS-loans were generally 9 thousand less issued to men with an average size POS-loan of 63 thousand rubles; cash loans – 65 thousand less with an average amount of 221 thousand rubles; mortgage – for 352 thousand rubles. less with an average size of 4 million rubles; but car loans – only 7.5 thousand rubles. less with an average size of 1.5 million rubles. Women use credit cards with a limit that is 33 thousand lower than that of men, with the average limit for all credit card holders being 126 thousand rubles.
Regarding loan terms, POS-women try to apply for loans and mortgages for 1-2 months shorter than men, but on the contrary, they prefer to extend car loans and cash loans for a month longer.
It seems that the need to resort to borrowed funds and the purpose of lending are assessed equally by representatives of both sexes. Cash loans became the most popular among both men and women in 2023: they account for 51% of the total number of loan agreements concluded by male borrowers, and 48% by female borrowers. In second place are credit cards: they were preferred by 38% of borrowers of both sexes. In third place by a wide margin — POS-loans: 9% of men and 6% of women chose this type of lending. Next comes the mortgage — 4%. And the least popular are car loans: only 1% of loan agreements were concluded by both men and women.
Nikolay Filippov, Director of Risk Methodology and Data Analytics, United Credit Bureau:
Of course, this is not a serious study, but rather an entertaining statistic. And yet, if we not just rejoice at the strengths of the weaker sex, but also try to give a reasonable explanation for the trends, then we see several factors why women are less likely to violate payment discipline. Firstly, it so happened that, traditionally, the woman manages the budget in the family. She knows better what expenses will be expected on food, on children, on education, etc., and what additional expenses the family can afford. Secondly, purely evolutionarily, women are more careful, more adaptive to changing conditions, they are less likely to make sharp and dangerous decisions, including in the field of lending. Be that as it may, we at OKB recommend that all borrowers be careful when obtaining loans, realistically assess their own capabilities and monitor their credit history. Check your credit rating and credit history on the Credistory website more often, especially since you can do this twice a year completely free of charge.
source: OKB press service
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