Fixed deposits remain a popular savings option in India, but investor behaviour appears to be shifting as more people explore alternative investments for a portion of their money.
A 2026 online survey by alternative investment platform Per Annum, covering 10,000 investors with current or past exposure to fixed deposits and the stock market, found that 52% had moved part of their FD corpus into alternative investments. The search for potentially higher returns and greater portfolio control were among the key reasons cited.
Peer-to-peer (P2P) lending is one of the alternatives being explored. Under this model, investors lend money to borrowers through digital platforms and can earn interest. However, unlike fixed deposits, P2P investments do not offer guaranteed returns or repayment.
The survey indicated that investors are generally not abandoning FDs completely. Around 35% viewed P2P lending as an additional allocation alongside their fixed deposits, while 13% continued to keep most of their money in FDs because of their perceived safety and predictable nature.
Interest in alternative investments was also reported beyond major cities, with 62% of respondents coming from Tier 2 and Tier 3 cities. Investors aged 35 to 50 formed the largest age group at 35%.
The findings suggest a growing focus on diversification, with investors considering alternative avenues while retaining fixed deposits as part of their overall savings strategy.
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