A Study on Saving Pattern of People in Cochin City

Income levels of people are seen to be increasing over the years contributing to the development of the country. But it is equally relevant to ensure at least some percentage of the income so earned by the people is channelized in productive manner. Therefore, with the increase in income levels, saving habits of people are also equally important to ensure development of the nation. Saving must be through some productive channels and not merely keeping the fund idle. Hence the study is undertaken to identify the productive means of channelizing the income of people and also the factors which influence them to save their hard earned money. Through convenient sampling technique, the questionnaire was distributed among 50 respondents and the required data was collected. On analysis it was found that majority of the respondents choose depositing in banks, investing in stocks and shares and post-office schemes as their investment option. Also it was found that safety and taxation benefits on savings are the major factors which influence individuals to save.