Formal Savings Statistics in India (2026)

As of the 2024 data, 23.8% of adults in India saved at a formal financial institution, per World Bank Global Findex. Up from 12.8% in 2021 to 23.8% in 2024 (+11.1 percentage points). India ranks #1 of 4 economies in South Asia on this measure, and #66 of 142 globally.

Key Statistics

Latest value (2024): 23.8% (2024); Formal Savings in India as of 2024, the most recent observation in World Bank Global Findex data.
Change since 2021: +11.1 pp (2024); Up from 12.8% in 2021 to 23.8% in 2024 (+11.1 percentage points).
Earliest value in this dataset (2011): 11.6% (2011); Earliest observation in this dataset, which covers 1990 onward (the source series may begin earlier). Up from 11.6% in 2011 to 23.8% in 2024.
Record high (2024): 23.8% (2024); The 2024 value is the highest in the available World Bank Global Findex series for India.
Rank in South Asia: #1 of 4 (2024); India ranks 1 of 4 countries in South Asia with data, based on each country's latest value.
Global rank: #66 of 142 (2024); India ranks 66 of 142 countries with data globally.
South Asia average: 19.3% (2024); India (23.8%) is above the average of 19.3% across the 4 countries in South Asia with data.
Among women (2024): 21.3% (2024); Value for women in India, same 2024 World Bank Global Findex data.
Among men (2024): 26.4% (2024); Value for men in India, same 2024 World Bank Global Findex data.
Gender gap (women minus men): −5.1 pp (2024); In 2024, the figure was 21.3% for women and 26.4% for men — 5.1 percentage points lower among women.
In rural areas (2024): 22.5% (2024); Value for rural residents of India in 2024.
Rural gap vs national: −1.3 pp (2024); Rural residents (22.5%) are 1.3 percentage points below the national figure (23.8%).
Among the poorest 40% (2024): 13% (2024); Value for adults in the poorest 40% of households in India in 2024.
Poorest-40% gap vs national: −10.8 pp (2024); The poorest 40% (13%) are 10.8 percentage points below the national figure (23.8%).
Internet use in India (2025): 70% (2025); 70% of the population in India used the internet in 2025 (World Bank); shown for context only.
Population (2024): 1.5 billion (2024); India had a population of 1.5 billion in 2024 (World Bank); shown for scale only.

Trend, 2011–2024

Formal Savings in India by year (% of adults (age 15+))
Year	% of adults (age 15+)	Change
2024	23.8%	+11.1 pp
2021	12.8%	−6.9 pp
2017	19.6%	+5.2 pp
2014	14.4%	+2.8 pp
2011	11.6%	—

Fig. 1 — Formal Savings in India, 2011–2024

Frequently asked questions

What share of adults in India saved at a formal financial institution?

23.8% of adults in India saved at a formal financial institution in 2024, according to World Bank Global Findex data.

How recent is the formal savings data for India?

The most recent observation is from 2024. World Bank Global Findex data is reported with a lag, so 2024 is the latest available year for India.

Where does the formal savings data for India come from?

The data comes from the World Bank Global Findex (indicator fin17a). The latest observation for India is from 2024; the snapshot was retrieved on 2026-06-10.

How has formal savings in India changed over time?

World Bank Global Findex data show a rise from 11.6% in 2011 to 23.8% in 2024.

How does India compare with other countries in South Asia?

India ranks 1 of 4 countries in South Asia with data, with 23.8% versus a regional average of 19.3% (latest values per country).

Source & methodology

Source: World Bank Global Findex, indicator fin17a, retrieved 2026-06-10.

Figures are shown exactly as published in the source dataset; only the change column of the trend table is computed from adjacent published values.Read more on the methodology page. All figures are estimates and projections; this is not financial advice.

Last updated 2026-06-10.