Working women get a new account!
Let's understand in detail about all the facilities that the Nari Shakti savings account is offering women
Public sector lender Bank of India recently launched a unique savings account by the name of Nari Shakti savings account. This has been exclusively designed for women aged 18 years or more, and are working and financially independent. The bank notes that Nari Shakti savings account is no ordinary account, but rather a unique financial tool that is aimed to financially empower working women. Let’s understand in detail about all the facilities that the Nari Shakti savings account is offering women.
Insurance cover : Under the Nari Shakti savings account, women’s overall security has been accorded prime importance. This account offers a comprehensive personal accident insurance cover of up to Rs 1 crore.
Discount on health insurance : Nari Shakti savings account holder women can also avail attractive discounts on health insurance and wellness products. Amidst rising inflationary pressures, a health insurance policy can aid you reduce the burden of treatment costs. Additionally, wellness products can help you maintain your health effectively.
Discount on loan interest rates : Women who open a Nari Shakti savings account will be eligible to avail special concessions on interest rates of various retail loans like personal, home and car loans. Women with a Nari Shakti savings account will be offered loans at a lower interest rate compared to others. This will make it easy and affordable for women to access credit.
No processing fees : Apart from concessions in interest rates, this account has another benefit. Women account holders will not have to pay any processing fees on retail loans. This will lessen their financial burden. In terms of personal loan, the processing fees range from up to 0.5-2.5% of the loan amount. This amount differs for different banks.
Free credit card : Women opening a Nari Shakti savings account will also benefit from a free credit card, which will facilitate ease of transactions. Additionally, they will be able to seamlessly transact even if there are no funds in their account.
Discount on lockers : Usually, women own gold, silver or other precious jewelry. If kept at home, there are chances of them being lost or stolen. That is why it is essential to have a bank locker. Under this scheme, gold and diamond savings account holders can avail attractive discounts on locker facility, while platinum saving account holders can access many services for free.
You can assess whether Bank of India’s Nari Shakti savings account is beneficial for you or not, depending on its features and facilities. Women who wish to open a Nari Shakti savings account can visit any one of the 5,132 branches of the bank and open an account. Additionally, one can also open this account via the website of Bank of India. Under this scheme, the bank will contribute Rs 10 for every account opened to the CSR fund, which will further be used to socially and economically empower women and girls in need.