Bank of India takes a step towards empowering women with the introduction of the Nari Shakti Savings Account, catering to women aged 18 and above with an independent income source.
This account offers a range of features and benefits designed to support women’s financial empowerment. Here’s a comprehensive overview:
Key Features and Benefits:
- Personal Accident Insurance Cover: Account holders receive a robust personal accident insurance cover of up to Rs. 100 lakhs, prioritizing the safety and security of women.
- Discounted Health Insurance and Wellness Products: Women with the Nari Shakti Savings Account can enjoy attractive discounts on health insurance and wellness products, contributing to their overall well-being.
- Rebates on Locker Facilities: Gold and diamond SB account holders receive appealing rebates on locker facilities, ensuring the secure storage of their valuable possessions.
- Free Facilities for Platinum SB Account Holders: Platinum status account holders enjoy various free facilities, enhancing the overall banking experience.
- Concessional Rate of Interest on Retail Loans: Women holding the Nari Shakti Savings Account are entitled to a special concessional rate of interest on retail loans, making borrowing more affordable.
- Waiver of Processing Charges on Retail Loans: Account holders are exempt from paying processing charges on retail loans, reducing their financial burden.
- Free Issuance of Credit Cards: Enjoy the convenience of a free credit card, providing greater financial flexibility and transaction convenience.
- Higher Usage Limit on POS Transactions: Account holders benefit from a higher usage limit of up to Rs. 5.00 lakh on point-of-sale (POS) transactions, facilitating larger purchases.
Financial Empowerment Tool:
The Nari Shakti Savings Account goes beyond being a regular savings account; it serves as a financial tool designed to empower working women with an independent income source, fostering self-reliance and increased financial freedom.
Support for Social Causes:
Bank of India is committed to supporting underprivileged women and the girl child by contributing Rs. 10 to the CSR fund for every new Nari Shakti Account opened.
These funds will be utilized for socio-economic development initiatives benefiting marginalized groups.
Easy Access and Convenience:
Interested women can open a Nari Shakti Savings Account at any of Bank of India’s 5132 domestic branches or through digital platforms, ensuring accessibility and convenience for potential customers.
