World Savings Day: Women prefer saving over investment, reveals survey

As per the release, the survey discovered that women prefer safer and traditional options such as fixed deposits, recurring deposits, Public Provident Fund (PPF) or just letting it lie in their savings accounts.

"Nearly 58 percent of the women prefer to save their money, squirrelling it away in either fixed deposits, PPF or letting it lie in their savings account. 6 percent women said they preferred to buy gold, while 15 percent of women picked mutual funds to invest their excess income in,” the release stated.

Surprisingly, it is the millennial women who are more risk aversed in comparison to the general female population. As per the survey, three-fourths of millennial women overwhelmingly favour saving, while half of the non-millennials pursue investment goals such as building up a retirement corpus or setting aside funds for their children’s education.

As per the data, one reason that women prefer conventional saving option is their priority of having easy access to their money. Over 40 percent of the women said that this aspect is critical to them when they save or invest.