New Delhi [India], August 20 (ANI): Indian consumers are showing stronger financial confidence, with improved savings and investments and greater optimism about achieving long-term goals, as GST-related price relief and easier access to affordable credit ease pressure on household finances, according to a study by Home Credit.
The study found that its Financial Well-Being Index rose to 40 points in 2026, the highest level since the survey began in 2023 and up from 34 points last year. The improvement was driven by sharp gains in savings and investment scores. Overall, 85 per cent of respondents expressed confidence in achieving their personal financial goals over the next five years, while 87 per cent were hopeful that their broader financial situation would improve.
The impact of GST reforms has also been reflected in household sentiment. 50 per cent of respondents said managing household expenses had become less stressful, while 47 per cent found handling unexpected expenses easier. As a result, 63 per cent said they were more confident about achieving their future financial goals.
Homeownership has emerged as the leading long-term aspiration, with 31 per cent of respondents planning to buy a house over the next five years. The aspiration was particularly strong among women, with 40 per cent expressing an intention to purchase a home. Meanwhile, 25 per cent of respondents said they planned to start or expand a business during the same period.
Savings behaviour was strongest among younger consumers. 58 per cent of Gen Z respondents identified themselves as savers, ahead of Millennials at 53 per cent and Gen X at 44 per cent. The study also found that 46 per cent of respondents reported an increase in savings in 2026, while 44 per cent saw their investments rise.
Digital financial tools and affordable credit are increasingly viewed as enablers of financial progress. 82 per cent of respondents said digital tools and access to affordable credit make it easier to achieve financial goals, with confidence highest among Gen Z at 86 per cent.
At the same time, consumers are seeking greater financial guidance. 57 per cent said they would like professional financial advice to help achieve their goals, highlighting growing demand for informed financial planning alongside access to credit.
The study was conducted among borrowers aged 18-55 across 17 major Indian cities, covering varied income groups and professions. (ANI)
Indian consumers more confident on finances as GST relief, affordable credit boost long-term goals: Home Credit Study
