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A survey done by Bankbazaar, a lending aggregator reveals that 62% of the respondents prefer mutual funds over bank FDs and RDs to invest.
1529 salaried individuals between the ages of 22 and 45 years participated in this survey.
The survey shows that this was an increase from 2023’s survey, which had 54% of surveyed investors choosing mutual funds as their preferred investment vehicle.
The study reveals that 57% choose FDs and RDs over other investing instruments in 2024.
Further, 41% investors prefer PF and postal schemes while 40% respondents like to do stock trading and 37% feel that life insurance is good for them.
Let’s look at the table below to better understand the changes:
|
Investment Vehicle |
2022 |
2023 |
2024 |
|
Mutual Funds and SIPs |
57% |
54% |
62% |
|
Fixed & Recurring Deposits |
54% |
53% |
57% |
|
PF & Postal Schemes |
45% |
43% |
41% |
|
Stock Market |
45% |
43% |
40% |
|
Life Insurance |
46% |
43% |
37% |
The survey also said that 38% respondents have bought both health and life insurance to secure their future.
- 58% of investors have a retirement corpus in 2024, an increase from 56% in 2023
- Gold loans grew by 56% in 2024
- 43% of respondents said that their retirement planning is on track and they are continuing it as planned
- 5% of respondents had neither life nor health insurance cover
- The most common age for expected retirement is from 51 to 60 years, with 54% of respondents choosing it.
- 19% of respondents have a retirement savings goal of Rs. 25 to 50 lakh, followed by 17% choosing Rs.50 to 75 lakh and 14% choosing Rs. 75 to 1 crore.
