Increased activism of women in the home loan sector amid the outbreak of the epidemic

- 7.4 per cent increase in the share of women in the home loan sector in the financial year 2021

The adverse effects of the epidemic have posed economic challenges to the country's income. On the other hand, people's budgets have been disrupted due to inflation. However, even in this adverse environment, the home loan sector has seen significant growth. There has also been a significant increase in women's activism in the home loan sector. Housewives' budgets have been disrupted due to inflation. But the increase in women's activism in buying a new home with a home loan proves that the empowerment of women has increased.

According to a study released by a finance company on home loan finance, new home purchases are on the rise in the financial year 2021 amid the onslaught of the epidemic. This has led to growth in the home loan segment. In addition, the current low interest rate on home loans has increased the attractiveness of the people.

More importantly, the work-from-home currency has risen sharply in the past year following the epidemic. People are turning to the big house because of the curved from home as all the members of the house are working in the present times. According to the findings of the study, in recent times, people between the ages of 6 and 7 have given priority to buying a new home. With interest rates on home loans now at a low level over the past decade, people are more likely to get a loan at a higher rate than in the past.

According to the findings of this study, in the financial year 2021, the average home loan was Rs. It has increased from 2.50 lakh to 2.50 lakh. However, the average home loan taken by women is up to Rs 3 lakh. Thus the number of home loans taken by women is also higher than others. On the other hand, the share of home loans taken by women in the home loan segment has increased by 6.5 per cent during this period. These figures show that the dominance of women in the home loan sector has increased.

The loan installment (EMI) amount also stays low as home loan interest rates are currently low. In addition, due to the downturn in the real estate sector, all types of buildings are easily available for those who want to buy a new home according to their budget. Thus, the demand for home loans has increased as they have the option of 'ready to move in'. In addition to this, there has been an increase in the trend of buying a new house amidst economic challenges as builders / developers have come up with a number of offers to increase the purchase of new houses.