Paytm Payments Bank was the most recognized neobanking app in India in 2024, according to Statista's Consumer Insights. 91 percent of respondents knew the mobile banking service provider, with 51 percent holding a positive opinion. Among those surveyed, 41 percent reported using Paytm Payments Bank in the past year. Angel One and Groww ranked second in awareness but showed slightly higher popularity among respondents.
Neobanking and neobrokerage awareness, popularity, and usage in India in 2024, by brand
The questions were phrased by the source as follows:
Awareness: "Do you know this brand, even if only by name? (multi-pick)"
Popularity: "When it comes to neobanking and neobrokerage, which of the following brands do you like? (multi-pick)"
Usage: "When it comes to neobanking and neobrokerage, which of the following brands have you used in the past 12 months? (multi-pick)"
The base for the questions about popularity and usage was respondents who knew the individual brand. More information on the methodology can be found here.
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Statista. (October 17, 2024). Neobanking and neobrokerage awareness, popularity, and usage in India in 2024, by brand [Graph]. In Statista. Retrieved December 12, 2024, from https://www.statista.com/statistics/1440720/india-neobank-neobrokerage-popularity-by-brand/
Statista. "Neobanking and neobrokerage awareness, popularity, and usage in India in 2024, by brand." Chart. October 17, 2024. Statista. Accessed December 12, 2024. https://www.statista.com/statistics/1440720/india-neobank-neobrokerage-popularity-by-brand/
Statista. (2024). Neobanking and neobrokerage awareness, popularity, and usage in India in 2024, by brand. Statista. Statista Inc.. Accessed: December 12, 2024. https://www.statista.com/statistics/1440720/india-neobank-neobrokerage-popularity-by-brand/
Statista. "Neobanking and Neobrokerage Awareness, Popularity, and Usage in India in 2024, by Brand." Statista, Statista Inc., 17 Oct 2024, https://www.statista.com/statistics/1440720/india-neobank-neobrokerage-popularity-by-brand/
Statista, Neobanking and neobrokerage awareness, popularity, and usage in India in 2024, by brand Statista, https://www.statista.com/statistics/1440720/india-neobank-neobrokerage-popularity-by-brand/ (last visited December 12, 2024)
Neobanking and neobrokerage awareness, popularity, and usage in India in 2024, by brand [Graph], Statista, October 17, 2024. [Online]. Available: https://www.statista.com/statistics/1440720/india-neobank-neobrokerage-popularity-by-brand/