Decoding Desi savings: Moneyview Index Unveils Saving and Investment Habits of Modern India  


The Moneyview Savings Index 2024, which was conducted during the financial year ended March 2024, revealed that 72% of the Respondents earning over Rs 50,000 monthly salary have higher savings compared to just 51% of those earning less than that. The digital fintech platform has studied the savings behavior and financial preferences of Indian respondents in Tier-1, Tier-2, and Tier-3 cities during the last financial year*

The comprehensive survey, conducted across diverse demographics, provides valuable insights into savings habits, goals, and factors influencing financial decisions among Respondents having monthly incomes ranging between Rs 30,000 to Rs 50,000 and more than Rs 50,000 a month.

Sharing the insights of the survey, Prasanth Naidu, Chief Marketing Officer, Moneyview, stated, “The findings underscore the importance of savings in achieving financial security and realizing personal aspirations. As we observe diverse saving behaviors across income groups and demographics, it’s evident that tailored financial solutions are essential to meet the evolving needs of the consumers.”

According to the survey conducted on 5,000 respondents each across Tier 1, 2, and 3 cities with various income and age groups, a significant trend towards savings has emerged. The survey has revealed some interesting savings patterns among respondents in these cities. For example, respondents in Tier-2 cities have shown maximum interest in savings compared to those in other cities. As much as 83% of the surveyed respondents in Tier-2 cities are saving every month.

Another interesting trend witnessed during the study was about safer investment instruments used by Respondents with lower incomes. Lower-income groups often opt for safer options like savings accounts even though interest in mutual funds and equity markets is increasing. Respondents with higher incomes prefer bank FDs, insurance (as a secure mode), and mutual funds.