Archive · 2 Jun 2025
India's Household Financial Savings Rebound in Fiscal Year 2024
In FY24, Indian families started saving more money in financial things like banks, after a dip.
This means they're putting money in savings accounts and similar options more.
The growth in things like houses and land slowed down, which was previously popular.
Savings in gold and silver didn't grow much because gold prices were high.
Money in banks and small savings plans grew a lot, showing people trust these options.
This shift may be because big purchases like homes are now less appealing and due to changes in the economy.
Household financial savings in India saw a significant rebound in FY24, growing by 16.52%.
Physical asset savings growth slowed to 6.36% in FY24 after strong growth in previous years.
Savings in gold and silver ornaments increased by only 0.93% in FY24, a substantial drop.
Bank deposits saw healthy inflows, but household loans grew at a faster rate.
Small savings schemes experienced a 54% year-on-year growth.
- Who
- Indian households.
- What
- A rebound in household financial savings, along with shifts in savings preferences.
- When
- FY24, with comparisons to previous years such as FY22 and FY23
- Where
- India
- Why
- Households may be returning to financial savings due to elevated property prices and high gold prices.
- Increase in Net Financial Savings (FY24)
- 16.52%
- Decline in Net Financial Savings (FY23)
- -22.25%
- Growth in Physical Asset Savings (FY24)
- 6.36%
- Growth in Physical Asset Savings (FY22)
- 39%
- Growth in Gold/Silver Savings (FY24)
- 0.93%
- Growth in Gold/Silver Savings (FY22)
- 51.04%