Those applying for home loans should get put their wives as first applicants in their loan applications to get preferred sanctions.
A senior executive of LIC Housing Finance has said that according to data compiled by them, loans provided to women or with women as first applicants, in joint home loans, have regular and disciplined repayments.
Reportedly, one of the largest housing finance companies in India, LIC Housing Finance, has doled out about 8 lakh loans, out of which about 1.7 lakh loans have been provided to women. The executive also added that the company would like to increase the number of its women borrowers.
With the objective of attracting more women loan applicants, the company is offering loans at 25 basis points lower rate than the usual interest rate under its ‘Bhagya Lakshmi' scheme.
Industry experts believe there are many reasons as to why women are prompt with their repayments. The reasons range from resisting the situation of losing a house due to default in loan repayment to the perception of women being more committed in their financial matters.