Many of North Volta Rural Bank's customers who are salaried workers, and therefore receive their pay via direct deposit to NVRB, make frequent use of high interest payday loans (temporary overdrafts). As part of a randomized controlled trial, including 245 men and 75 women, NVRB offered a product to these customers in which they commit to having a fixed amount taken directly from their salary and put in a commitment savings account, for an 18-month period.
The key questions this study is designed to answer are
(i) How do individuals adjust their finances in response to regular, automated savings withdrawals?
(ii) What do they spend the lump sum on?
(iii) Are there any long-term impacts of having participated in the commitment savings program on economic activities, savings, debt, or spending behavior?
(iv) How are these impacts different for men versus for women?
The baseline survey data collection for this study took place during September and October 2013. This baseline dataset includes data from 318 individuals: 243 men and 75 women.