Fixed deposits and saving accounts continue to dominate the preferences of female investors, according to a survey, which revealed that 60% of female investors want to put their money in traditional investment options due to its perceived liquidity and safety.
Epsilon Money, an integrated wealth management firm, conducted a survey on women investors as precursor to the launch of their long-term financial awareness initiative ‘Finance Diva’.
Almost half of the female respondents (47%) reported that they allocate between 10-30% of their income towards their financial goals.
While this suggests a level of commitment towards financial prudence, it’s worth exploring whether this is enough to achieve their desired outcomes and goals, the report said.
The survey aimed to gauge women’s perspectives on finance and investment. Women across 37 cities pan India shared their inputs on the survey. 33% of the participants were from tier II and tier III cities.
60% survey respondents fell in the 18- 30 age bracket, followed by 32% in the 31-45 age group, with 7% and 1% falling in the 45-60 and above 60 age groups, respectively.
49% respondents were from a salaried background, with the remaining being 16% self-employed and 12% professionals. 23% of the survey respondents were homemakers.
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44% of respondents are confident in making their own financial decisions, while a significant 56% seek advice before taking action.
According to survey results, women prioritise self-security the most when making investment decisions, followed by buying a house, children’s education/marriage, and retirement. These goals and dreams reflect the evolving aspirations of women.
“The findings reflect the evolving aspirations of modern Indian women. The insights tell us that 44% of women investors make their own financial decisions and for them self-security was the main motive behind investing. 56% seek advice before making any financial decision. But both these groups are open to financial literacy and awareness. Using the survey insights, we are launching an on-going initiative towards their financial empowerment,” said Varsha Chopra, regional director, Epsilon Money.
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