Analysis of Factors Affecting Savings Account Availability

The purpose of this paper is to study the factors that influence the likelihood of having a savings account. Russia is a developing economy in need of investments, the volume of which from abroad is decreasing every year, which determines the need of the economy for a reliable source of domestic investment. It is the savings of households that act as such a source, therefore it is necessary to understand how domestic savings are formed and how the state can stimulate the saving activity of the population. The main research method was the survey of Perm city residents using a questionnaire. Based on the results of the model assessment, the following factors positively influenced the likelihood of having a savings account: financial literacy, the level of trust in banks and financial confidence. The constructed model as a whole turned out to be significant at the level of 0,01%. Recommendations based on the results of this study are associated with increasing the level of financial literacy and financial confidence of citizens through appropriate government programs. The study is divided into the following parts: introduction, literature review, methods, results and conclusion.