Evaluation
Saving money and borrowing money are often thought of as two very different financial behaviors. However, in many low- and middle-income countries people may use these products for the same reasons. The National Rural Support Programme in Pakistan and researchers randomly offered female microfinance customers a commitment savings product or a credit product three times over the course of three weeks to test how the design of the financial product impacted take-up. They found that many women had an interest in making a large lump-sum purchase or investment, but simultaneously struggled to save. More than half of women used both a savings product and a credit product over the course of the three weeks, suggesting the two are used interchangeably.