India’s Household Savings 2025: 10 RBI Insights That Show How We Save, Spend & Borrow
01 Sept 2025• 4 min read•Indiagraphs Insights
On 28th August 2025, the Reserve Bank of India (RBI) released its Handbook of Statistics on the Indian Economy 2025 – a comprehensive dataset capturing how Indian households save, borrow, and invest.
The latest numbers highlight important shifts: households remain the backbone of India’s savings, but liabilities are rising sharply; gold continues to play a significant role in portfolios; and financial savings as a share of GDP have halved within just a few years.
This Indiagraphs analysis distills 10 key insights from RBI’s latest release, presenting the data through concise commentary, structured tables, and visual charts to show how India’s financial behaviour is evolving.
Household gross financial savings were 11% of GDP in FY 2020–21, but dropped to 5.3% in 2023–24.
This sharp fall is a red flag for policymakers tracking financial stability.
Household Financial Savings as % of GDP
Year
% of GDP
2020
11.0%
2021
9.1%
2022
7.7%
2023
6.0%
2024
5.3%
7. Credit Card & Personal Loans on Fire
Credit card outstanding doubled in 5 years, hitting ₹2.8 lakh crore in FY 2023–24.
Personal loans (housing, education, vehicles) touched ₹59.5 lakh crore, led by housing loans crossing ₹30 lakh crore.
Household Borrowings by Loan Type (₹ crore)
Year
Housing Loans
Vehicle Loans
Credit Cards
Education Loans
2020
20,00,000
4,50,000
1,40,000
80,000
2022
26,00,000
5,40,000
2,10,000
85,000
2024
30,20,000
6,00,000
2,80,000
90,000
8. Gold Loans Boom
Loans against gold jewelry surged 2x in just two years, touching ₹2.08 lakh crore in 2023–24.
Proof that households still use gold as collateral during cash crunches.
Loans Against Gold (₹ crore)
Year
Gold Loan Outstanding
2020
95,000
2021
1,25,000
2022
1,60,000
2023
1,85,000
2024
2,08,000
9. Small Savings Schemes Still Matter
Post Office savings, PPF, NSC, and Sukanya Samriddhi accounts together held over ₹12 lakh crore in FY 2024, a vital cushion for middle-class families.
Small Savings Schemes (₹ crore)
Year
PPF
NSC
Sukanya
Post Office Deposits
Total
2020
2,50,000
1,80,000
40,000
6,20,000
10,90,000
2022
2,90,000
2,00,000
60,000
6,80,000
12,30,000
2024
3,40,000
2,20,000
80,000
7,60,000
12,00,000+
10. India’s Savings Culture Is Transforming
From “physical-first” (homes, gold) to “digital & financial-first” (SIPs, insurance, pensions), the shift is underway.Yet, the DNA of Indian savings remains cautious, balancing between safety and aspiration.
Conclusion
In just over a decade, India’s household balance sheet has transformed. While physical assets still dominate savings, financial liabilities have nearly doubled in two years, deposits remain the largest financial asset, and gold continues to hold its timeless allure. At the same time, household financial savings as a share of GDP have halved from 11% in 2020–21 to just 5.3% in 2023–24.
This means Indian households are no longer just passive savers. They are borrowing more, investing more, and diversifying – reshaping the very foundations of India’s financial system.
Planning to buy a house? Use our Home Loan Calculator to check EMI, interest, and repayment impact on your savings.
