ARCHIVES
VOL. 1, ISSUE 1 (2025)
Savings Behavior and Access to Banking in Low-Income Households
Authors
Bhargav Venkata
Abstract
This study examines the savings behavior and
access to formal banking services among low-income households. It explores the
factors influencing their decisions to save, including income variability,
financial literacy, and trust in financial institutions. The research
highlights the role of informal savings mechanisms and the barriers that
prevent households from fully utilizing formal banking services. Findings
suggest that while low-income households recognize the importance of saving,
limited access, high transaction costs, and lack of financial awareness often restrict
their engagement with banks. Policy recommendations focus on improving
financial inclusion, promoting affordable banking products, and enhancing
financial literacy to support sustainable savings practices.
Download
Pages:6-10
How to cite this article:
Bhargav Venkata "Savings Behavior and Access to Banking in Low-Income Households". World Journal of Commerce, Vol 1, Issue 1, 2025, Pages 6-10
Download Author Certificate
Please enter the email address corresponding to this article submission to download your certificate.