‘60% women go for traditional investment options’

Mumbai: Fixed deposits and saving accounts continue to dominate the preferences of female investors, according to a survey, which reveals that 60 per cent of female investors want to put their money in traditional investment options due to its perceived liquidity and safety.

Epsilon Money, an integrated new age wealth management firm, conducted a survey on women investors as a precursor to the launch of their long-term financial awareness initiative ‘Finance Diva’.

Talking to Bizz Buzz, Varsha Chopra, Regional Director, Epsilon Money, says, “The findings reflect the evolving aspirations of modern Indian women. The insights tell us that 44 per cent of women investors make their own financial decisions and for them, self-security was the main motive behind investing. However, 56 per cent seek advice before making any financial decision.”

But both these groups are open to financial literacy and awareness. Using the survey insights, we are launching an ongoing initiative towards their financial empowerment, she added.

Finance Diva will spread the awareness among women investors using online tools, articles, videos, and offline events. Designed specifically for women, the initiative offers a guide to take control of their finances and much more.

Dr Madhu Smita Singh, Director, Epsilon Money, said: “We believe everyone has financial goals and to achieve them we require time, patience, discipline, and most importantly a reliable wealth partner. To help women take control of their finances, Epsilon Money has launched the 'Finance Diva' initiative. It aims to educate women about financial tools and investment options through online and offline activities, helping them make informed decisions.”

India is referred to as a saving economy due to its high savings rate and an overall savings culture. In every household, women play a major role in generating savings. Encouraging more women to invest can help bridge the gap between savings and investment in India, potentially leading to greater economic growth and development, she said.

By providing women with the tools and resources to make informed investment decisions, we can promote a culture of financial literacy and increase the overall participation of women in the economy, she added.

The survey is aimed at gauging women's perspectives on finance and investment. Women across 37 cities pan India shared their valuable inputs on the survey. Interestingly, 33 per cent of the participants were from tier II and tier III cities. As many as 60 per cent of survey respondents fell in the 18-30 age bracket, followed by 32 per cent in the 31-45 age group, with 7 per cent and 1 per cent falling in the 45-60 and above 60 age groups, respectively. While 49 per cent of respondents were from a salaried background, the remaining being 16 per cent self-employed and 12 per cent professionals. As many as 23 per cent of the respondents were homemakers.