Survey: More Indian Women Investing, Saving Than Men

Survey: More Indian Women Investing, Saving Than Men

November 21, 2022 0 By Alicia Hagen

More Indian women have joint fund investments and are saving than men. Moreover, the latest Bankbazaar Saving Quotient survey revealed that women focus on retirement investments compared to men.

The research covered 1,675 interviewees in the 22 to 45 age group from six metros & over 18 tier-two cities. The survey’s men-to-women ratio was 57:43. Moreover, most of the respondents (78%) came from the metros, while the remaining were from non-metros.

Most of the survey participants were salaried individuals with s 30,000 minimum salary. Also, they were familiar with the digital world. Also, the research revealed that 75% had bank accounts, while 57% invested via mutual funds or SIPs (systematic investment plans). Nearly 54% have recurring or fixed deposits, whereas 46% have insurance coverage.

Around 45% of the participants invested in stocks. Meanwhile, 33% invested in gold & other commodities, and 32% in new asset classes such as crypto. Also, the survey confirmed that 31% invested for the future via the Public Provident Fund of Employees’ Provident Fund. Meanwhile, 14% resorted to government securities.

Women Lead the Race

The survey confirmed that Indian female led men as far as investment and savings is concerned. Around 60% of women boasted mutual fund investments versus 55% of men. The numbers favored women (54%) in fixed deposits also. The number was 53% for men.

Concerning crypto and modern savings tools like P2P, women dominated men – 34% against 30% for cryptocurrency and 16% against 7% for the latter. Men only dominated in direct stock – 48% versus 41%. Also, men dominated women in the savings accounts – 79% vs. 70%.

Savings Pattern

The savings pattern has changed post-COVID, shifting to emergencies (69%), children’s well-being (59%), income & wealth (47%), and retirement (42%), according to the survey. Region-wise, the south seemed unbothered about retirement (35%), whereas the west dominated (59%).

Gender-wise, women remain more aggressive regarding retirement (60%) than men (52%). Indeed, the survey discovered that Indians had shown an increased appetite for retirement than ever, with around 60% of respondents confirming that they have a retirement corpus. Nevertheless, women also dominated this front.

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