In a report by DBS Bank India, HNW (High-Net-Worth) women, female entrepreneurs, and rural women were surveyed. Among these participants, 31% of female entrepreneurs reported a monthly personal income ranging between Rs 1 lakh and Rs 3 lakh. 27% of HNW women had an average monthly personal income between Rs 5 lakh and Rs 7 lakh and 40% of rural women earned a monthly personal income between Rs 10,000 and Rs 25,000.

Financial decisions

A majority of the female entrepreneurs surveyed (69%) identify themselves as the primary decision-makers in financial matters. This is slightly higher than rural women earners (60%) and HNW women (58%), indicating consistently strong financial autonomy across all 3 cohorts, the report mentioned.

Among the women surveyed, the proportion making financial decisions independently increases with age for HNW women and female entrepreneurs, while it remains relatively steady for rural women earners as they grow older.

76% of rural women earners report being confident or very confident in taking financial decisions. 67% of HNW women report being confident or very confident in taking financial decisions. 58% of female entrepreneurs, the lowest among the cohorts, report being confident or very confident in taking financial decisions.

Among those who do not make financial decisions independently, family and immediate personal relationships remain the primary source of guidance. Among HNW women, 55% turn to their spouse or partner for financial advice. A similar trend is seen among female entrepreneurs, where 50% rely on their spouse or partner for guidance on business-related financial decisions. This dependence is even more pronounced among rural women earners, 73% of whom consider their spouse or family to be their primary source of financial advice, the report added.

Financial literacy

The report said that female entrepreneurs rely on a combination of digital tools and hands-on experience to deepen their financial knowledge. Around one third (33%) follow finance content online and a similar proportion (32%) turns to friends or family for guidance.

Many also make active use of technology, with 27% using budgeting or investment apps, while 21% subscribe to financial newsletters, blogs or magazines. A further 20% take structured courses, signalling a willingness to invest in formal skill-building alongside self-directed learning.

Among HNW women, personal networks remain a central source of reassurance and insight, with 40% seeking advice from family or friends. Digital content also plays a meaningful role: 35% follow financial creators online and 32% subscribe to newsletters, blogs or magazines to stay informed, the report noted.

Financial goals

Across all age groups and income levels, 64% of HNW women and 73% of female entrepreneurs identify buying a new home or property as their primary life goal, highlighting a strong preference for tangible assets and an affinity with home ownership, the report mentioned.

In contrast, 73% of rural women earners rank children’s education as their most important life goal, significantly higher than HNW women (38%) and female entrepreneurs (46%).

Rural women earners review their finances actively, with 23% reviewing daily, 23% weekly and 22% monthly. Female entrepreneurs most commonly review finances monthly (41%), followed by weekly (22%) and daily (15%). In comparison, HNW women review their finances less frequently on average, with 28% reviewing monthly, 25% twice a year and 20% quarterly, the report added.

Digital access

Female entrepreneurs show the highest levels of digital adoption. 84% use UPI and 59% actively use digital financial tools such as banking apps. However, 58% still report challenges, indicating that high adoption does not eliminate friction. Key concerns include data privacy and security (62%) and the lack of personalised guidance on digital platforms (47%).

Among HNW women, digital engagement is more established, with UPI adoption at 77% and 52% using digital tools such as savings and banking apps. However, a significant proportion report adoption barriers, largely due to data privacy and security concerns (60%) and complex user interfaces (45%), said the report.

The report also highlighted that despite high smartphone ownership (82%) among rural women earners, adoption of digital financial services remains limited. Key barriers include low familiarity with apps (44%), fear of online scams (37%) and inconsistent connectivity (31%). These challenges are reflected in payment behaviour, with UPI usage the lowest among all cohorts at 54%, indicating a gap between digital access and digital trust.

Banking preferences

Digital platforms, including apps and websites, are the most preferred channels of engagement for female entrepreneurs (44%) and for 29% of HNW women. HNW women tend to prefer a hybrid approach (36%), combining digital channels with in-person support. In contrast, rural women earners show a stronger preference for in-person banking, with 47% favouring branch visits, said the report.

For the female entrepreneurs surveyed, expectations of banks extend beyond traditional financial solutions. Peer advisory and networking opportunities are the most sought-after form of support (44%), followed by access to mentors (40%) who can provide sector-specific knowledge and guidance. A further 33% highlight the importance of investor connections to enable access to growth capital. Support with government schemes (22%), including assistance with eligible grants and pitch evaluations, as well as leadership and functional capability development (16%–18%), is also valued.

Retirement planning

Among female entrepreneurs, 39% expect to retire after the age of 50, 20% believe they may never fully retire and 26% remain unsure. A similar pattern appears among HNW women, with 41% planning to retire after 50, 29% expecting lifelong engagement with work and 12% uncertain about their retirement age.

Rural women earners show comparable trends, with 42% expecting to retire after 50, 29% believing they will continue working indefinitely and 19% remaining unsure, the report mentioned.

Retirement preparedness is mixed, particularly among rural women earners. As many as 37% report having no retirement plan, while others rely on bank or post office savings (27%), formal pension schemes such as EPF or APY (23%) or informal instruments such as cash, gold or chit funds (13%), the report added.

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