Only 15% families choosing gold for savings: Personal finance survey

People in India buy gold aggressively and this is the reason why India is second biggest gold consuming country in the world. You must be knowing this, but do you know how many households have kept gold as saving instrument, families of which state and district have the highest amount of  gold in the country? Also, which part of the country has the highest number of households who have gold savings? Money9 brings answers to all these questions.

In the country’s first and independent personal finance survey.

Money9 surveyed 31,510 families in 100 districts across 20 states

Out of every 100 families, only 15 families have bought gold.

India is not as rich as it looks.

At the same time, if we look at states, then,  Karnataka has the highest amount of gold as savings.

38 out of every 100 families in Karnataka keep gold as savings. On the contrary, amongst large states, Bihar is at the bottom. Only 1 out of 100 families in the state has bought gold for savings.

Amongst districts, Surat in Gujarat is on top with 51 out of every 100 families saving in gold.

46 out of 100 families in Krishna district of Andhra Pradesh have savings in gold.

A surprising thing which comes across in this survey is none of districts in North India feature amongst top 10 districts in gold savings.

The highest amount of gold in savings is with southern and western states.

In terms of number of households, four of the top 10 districts are from Karnataka and three from Maharashtra.