97% people above 18 years have a savings account; only 3% invest in realty: Survey

Around 97% of people above 18 years of age across metropolitan cities, Tier-2 and Tier-3 towns either have a savings or a current account and mere 3% of the people invested in commercial properties.

This was revealed in an ET Wealth Retail Investors’ & Consumers’ Survey (OICS) 2015 report, which was launched by MoS Finance Jayant Sinha while he unveiled a new website of ET Wealth.

The survey further stated that 53% of them preferred to invest in an apartment or an independent house/plot and 55% of them had taken home loans.

This survey by ETW-RICS profiled 10,000 consumers in a bid to help product managers and marketers in the BFSI and consumer segments understand their target customers in a better way.

The survey stated that 87% of the respondents, who were spread across metropolitan cities, Tier-2 and Tier-3 towns, owned one or more of the investment products such as chit funds, bonds, PPF, mutual funds, shares, bank and company fixed deposits.

Interestingly, 49% of the respondents regarded insurance as an investment product and claimed to have bought insurance for investment purposes only.

“This is an excellent initiative to educate people on savings,” said Sinha.

In a dynamic economy, changing consumer trends and habits do not get captured to enable marketers to take appropriate product decisions.

(Image: Indiatimes)