Summary of this article
66 per cent women shop online, driving digital adoption
65 per cent women borrow only when necessary
Financial awareness and long term goals guide borrowing behaviour
Women are increasingly participating in digital finance, and have been careful and disciplined in their approach to borrowing, according to two consumer finance surveys by Home Credit India. Insights from the How India Borrows Study 2025 (HIB 7.0) and the Great Indian Wallet (GIW 3.0) point to increasing digital adoption among women with a cautious approach to credit.
Online Shopping Trends
The surveys have indicated that 66 per cent women now shop online. Women are increasingly using digital platforms for their daily needs as well as household expenses. Online shopping is helping people access products easily and save time and costs.
Women are also becoming more comfortable with the financial options available with digital shopping platforms. Around 51 per cent women have indicated their preference for embedded finance options, compared to 49 per cent men. Embedded finance options generally provide the facility to access finance options while making the purchase through the digital platform.
Digital Finance Adoption Among Women
Studies have also indicated that women still prefer physical touchpoints for their financial decisions, with around 39 per cent of women indicating their preference for physical touchpoints, such as bank branches.
Cautious Borrowing
Women are careful borrowers. According to the study titled How India Borrows 7.0, 65 per cent of women respondents reported that they only borrowed money if it was absolutely necessary. The majority of women viewed credit as a means to fulfil their specific financial requirements.
Seeking advice before taking credit was another trend observed among women borrowers. Around 46 per cent of women reported seeking advice from family and friends before taking a loan. According to the study, women borrowers sought advice from their social circle before taking credit.
Checking their credit score before borrowing is another trend emerging among women borrowers. Around 34 per cent of women reported checking their credit score before borrowing, indicating that women borrowers are becoming aware of the need to have a good credit score to access credit.
Financial Literacy And Credit Preferences
Financial literacy is also emerging as an important factor for women borrowers. According to the surveys, around 66 per cent of women reported seeking financial education. Awareness about digital financial risks is also high, with around 74 per cent of women respondents being aware of online financial fraud.
When it came to choosing credit products, affordability and transparency were found to be important factors for women borrowers. Around 49 per cent of women reported that the low interest rates and transparent repayment options were important for them to choose a loan. Another important factor for women borrowers was the quick disbursement of the loan amount, reported by around 43 per cent of the women respondents.
Financial Aspirations And Long-Term Goals
The surveys also revealed the changing economic role of women in the household. According to the Great Indian Wallet 3.0 study, 75 per cent of women were making a significant contribution to household income.
Another aspect revealed by the survey was the increased desire for a better financial life. Around 26 per cent of the women surveyed revealed that they were actively seeking better job opportunities to better their financial lives. Additionally, 22 per cent of the women surveyed revealed that they were planning to start their own businesses.
In the long term, the goals remain the same: a better financial life. According to the Great Indian Wallet 3.0, 31 per cent of the women surveyed revealed that their long-term goal was to have their own home. Additionally, 26 per cent revealed that their long-term goal was to provide quality education to their children.
According to the same survey, the confidence level in meeting their long-term goals was high. Around 67 per cent women revealed that they were confident about meeting their long-term goals in the next five years. However, many also revealed that becoming debt free in the next 10 years was a long-term goal.
