Credit card, personal loan penetration in Ahmedabad higher than pan-India average, says CIBIL

Express news service Posted online: Thursday, Nov 28, 2013 at 0000 hrs
Ahmedabad : Credit card and personal loan penetration in Ahmedabad is higher than the pan-India average, says Credit Information Bureau India Ltd (CIBIL) on Thursday while releasing the latest data trends about both borrower and lender behaviour specific to the city.

In the city, credit cards (34%) and personal loans (21%) are the most availed form of credit. These figures are the higher than pan-India averages for Credit cards (18%) and personal loans (16%).

The state of Gujarat has 52% credit applicants who are less than 35 years of age as compared to the national average of 49%. However, Maharashtra has the highest percentage (63%) of people below the 35-year-category who have applied for credit.

According to the CIBIL, about 80% of the borrowers in Ahmedabad have a CIBIL TransUnion Score greater than 700, indicating that these borrowers have a higher chance of getting their loan and credit card applications approved by banks.