India, is one of the fastest growing economies in the world, where the maximum population falls under middle class. This study investigates two aspects. To understand the investment habits of middle-class consumers in India, and to examine the effectiveness of the advertising campaign of Mutual Funds. The findings unearth the risk appetite, financial long term and short-term goals of the middle-income group and provide insights on the spending and savings behaviour of various subsegments within the middle-income group. The paper provides business implications and suggestions to the banks to target these groups who display great potential, thus increasing the investments in the market.