What are the Benefits of Having a Women's Savings Account?

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    With increase in women employment, financial independence among women has also increased. Women would like to spend according to their wish and convenience these days. In a move to encourage women, many banks have come up with separate accounts and card for women. There are discounts and other waivers on demat account and loans.

    Here are some of the offers from different banks:-

    What are the Benefits of Having a Women's Savings Account?

    HDFC Women's Saving Account

    On women's card one can enjoy a host of features on your EasyShop Woman's Advantage Debit Card such as CashBack offer of Re 1 for every Rs. 200 spent. Daily cash withdrawal limit upto Rs. 25,000 and daily shopping limit: Rs. 1.25 lakh. One can also earn higher interest on money lying idle with automatic sweep out facility. Also, special discount on interest rates and processing fees on Two wheeler / Auto / Gold / Personal Loan.

    ICICI Bank's Advantage Woman Savings Account

    This account offers some of the benefits offered by this account like Zero balance with Recurring Deposit of Rs 2000, free at-par cheque book, special women's International debit card with several discounts and other offers, Internet Banking, Phone Banking and Anywhere Banking to name a few.

    Axis Bank's Women's Savings Account

    In urban centers, a minimum quarterly balance of Rs.5000 is required, while in semi-urban centers it is Rs.2500 and in rural centers, Rs.1000. Other benefits include free at-par cheque book and SMS & Internet Banking.

    South Indian Bank

    South Indian Bank offers two types designed specially for women, namely the Mahila Savings Bank Account and the Mahila Plus Savings Bank Account.
    Apart from the regular benefits of women's accounts, main feature of the Mahila Savings account is free insurance cover for the first one year (travel insurance and accidental death). The other benefit is they also offer free cash remittance facility from other accounts.


    Kotak Savings Account

    Kotak Bank offers up to 6% interest p.a. on your Savings Account. Also provide discount on lockers. There is higher withdrawal limits on your Kotak Silk Debit Card. Cash back upto Rs 4500 on Your Silk Debit Card.


    Read more about: savings account debit card
    Story first published: Monday, December 1, 2014, 14:49 [IST]
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