How India saves: Mutual funds pip FDs, 58% prepared for retirement

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Interestingly, only about 6% of Indians currently own a credit card, leaving a lot of room for growth.

Home loans grew by 18% year-on-year, up from 14% in 2023, totalling Rs 2.52 trillion.

Looking ahead, home loans and gold loans are expected to keep driving lending growth.

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Article Details

Category: BusinessFinance

Markets: India

Topics: BankBazaar MoneyMood report Personal loan slowdown Credit card usage spike Retirement planning India Insurance coverage trends 2024 Borrowing trends 2024 Home loan growth India India retail lending growth 2024 Mutual funds top investment Gold loans surge

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-18 @ 18:56:50 (8 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 668 words

Reading Time: 4 minutes read

Sentences: 42 lines

Sentence Length: 16 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 24537319

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About Business Standard

Main Topics: BusinessFinance

Official Website: business-standard.com

Update Frequency: 345 posts per day

Year Established: 1975

Headquarters: India

News Last Updated: 3 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +5:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #49

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