Gen Z is saving for a home, while Gen X is focused on retirement: Stable Money-YouGov survey
The survey was carried out with 1003 respondents across India
Findings at a glance
* 80% of Indian savers go digital.
* Saving starts young: 65% begin by 30.
* Nearly half of women savers call the shots on household money.
* Mutual funds and fixed deposits are neck and neck at the top. 23% pick mutual
funds first and 21% pick bank FDs and RDs. In the top three, the figures stand at 57%
and 56%, respectively.
* FDs remain king of fixed income. 56% place bank FDs and RDs in their top three,
nearly three times as often as PPF (20%) or government bonds (19%).
* Gen Z eyes a home, Gen X eyes retirement.
* Unexpected money? 87% would save, invest or clear debt.
* Tier-2 cities match metros on bond investing.
Saving has long been in the Indian household’s DNA, and it is a habit that tends to strengthen when conditions are uncertain, as savings provide the cushion for when the road ahead is unclear. A new survey by YouGov, commissioned by Stable Money in the context of World Savings Day, asked Indians how they save, what they save for and where they put their money. 80% of the savers surveyed use a digital platform to save or invest, and 65% began saving or investing by the age of 30. 2026 has been an uncertain year, with the Reserve Bank of India projecting consumer price inflation of 5.2% for FY27.
The survey shows that the habit of saving is strong: 83% of the adults surveyed currently save or invest. What stands out is where it lives. Between the morning commute and the evening scroll, Indians are doing something their parents once did at a bank counter: putting money away. The difference is the screen.
Saving starts young: 65% begin by 30.
Saving is a habit Indians pick up early. Of the 1,003 respondents who save or invest, 39% began between the ages of 18 and 25, and another 26% between 26 and 30, so 65% were saving or investing by 30. By 35, the figure reaches 82%. About one in ten started after 40. That runs against the popular image of an impulsive, spend-first young India: nearly seven in ten of the adults YouGov surveyed are Gen Z or millennials. The picture that in fact emerges is of savers who start early and take their money seriously, with digital access potentially lowering the barrier to starting.
Nearly half of women savers call the shots on household money.
56% of respondents say they primarily make household financial decisions themselves, while another 23% make these decisions jointly with their spouse or partner. Only 11% leave these decisions to their spouse or partner, and an equal 11% rely on a financial advisor. Among women surveyed, 46% say they primarily make household financial decisions themselves, and 29% decide jointly with a spouse or partner. This growing sense of financial independence may also be supported by greater access to information and digital platforms. Information that was once largely accessed through financial advisors or bank branches is now readily available on smartphones, allowing savers to compare options, evaluate returns and make more informed financial decisions independently.
Mutual funds and fixed deposits are neck and neck at the top.
Asked for their preferred product, 23% put mutual funds first and 21% bank fixed deposits and recurring deposits, ahead of gold and silver (14%), equities (12%) and insurance or savings plans (10%). In a top-three ranking, mutual funds (57%) and bank FDs and RDs (56%) lead gold and silver (45%), insurance or savings plans (39%) and equities (36%).
FDs remain king of fixed income.
Among fixed income products, bank FDs and RDs come first by a clear margin: 56% place them in their top three, against 20% for PPF, 19% for government bonds and 7% for corporate bonds. 21% name them as their first choice, against 6% each for PPF and government bonds and 2% for corporate bonds. The near-tie with mutual funds suggests savers as a group value both predictability and growth.
Gen Z eyes a home, Gen X eyes retirement.
Retirement leads overall, driven by Gen X. Priorities differ across generations: buying a home is the most-cited primary financial goal for Gen Z (26%), while 35% of Gen X respondents prioritise retirement. For Gen Z, retirement ranks fourth, behind buying a home, building an emergency fund and travel. In a sample made up largely of Gen Z and millennials, cohorts often stereotyped as financially impulsive, it is striking that long-term goals still feature prominently.
Unexpected money? 87% would save, invest or clear debt.
Offered an unexpected lump sum, 32% would invest it in higher-growth options such as equities or mutual funds and 25% in a fixed-income product, so 57% would invest it. Fixed income outranks the savings account, which draws 19%. Another 11% would reduce debt, so 87% would invest, save, or pay down debt with it. Only 13% would spend it: 8% on travel or an experience and 5% on a luxury purchase. Putting windfalls to work may reflect a response to the times.
Tier-2 cities keep pace with metros on bond investing.
Bond investing is just as common in Tier-2 cities as in Tier-1 cities, with 46% of Tier-2 respondents saying they invest in bonds, compared with 45% in Tier-1 cities. Across the survey, 41% say they invest in bonds, and another 45% are interested, while 14%, about one in seven, are not sure what bonds are. Government bonds feature in the top three for 19% of savers and corporate bonds in 7%. Online platforms have also made bonds simpler to find, compare and buy.
“Indians have always been savers, and that habit is intact. Today it lives on the phone,” said Saurabh Jain, Co-founder, Stable Money. “When we started Stable Money three years ago, we believed Indians are natural savers and that the way they save should be as simple as the rest of their digital lives. We commissioned this survey as we mark our third anniversary and World Savings Day, and it gives us a clearer picture. 93% of the people we surveyed either already use a digital platform or plan to, 65% began saving by 30, and 56% make the decisions themselves. The passbook has become an app, and the saver using it starts early and is in charge.”
Survey methodology
Stable Money commissioned YouGov to survey 1,212 adults in urban India between 13 and 16 October 2026, across more than 150 cities and towns. The questions were answered by the 1,003 respondents (83%) who currently save or invest. The survey reflects stated attitudes and behaviour and is not investment advice.
Percentages are weighted shares of respondents and may not total 100% because of rounding.
Weighting: The figures have been weighted and are representative of urban Indian adults aged 18+. Data was weighted according to the dimensions of gender, age and geography on the basis of an ideal weighting from Statistics India, so that the results are representative of the population in relation to the aforementioned target group.
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