Graphics: OnmanoramaOn this Women's Day, Onmanorama looks at the savings schemes banks provide only for women customers.
Federal Bank’s Mahila Mithra: A quarterly average of Rs 5,000 should be left as balance in the account. Up to Rs 75,000 can be withdrawn a day through ATM’s using the Gold debit card. Point-of-sales (POS) transactions are also limited at Rs 75,000 daily. Services such as internet banking, mobile banking and RTGS are free. Draft of up to Rs 50,000 per month can be obtained without a fee. The processing fee for retail loans will be waived by up to 50 percent. Women account holders can also open zero-balance accounts for two minor children.
South Indian Bank’s Mahila Plus Savings Account: The scheme offers insurance cover for the first year. Minimum balance of Rs 5,000 has to be maintained. Demand draft and pay orders are processed without any fees for up to a prescribed limit. ATM cum debit cards are free and they do not attract any annual charge. The account holders are assured of internet banking including fund transfer.
Axis Bank’s Women’s Savings Account: Account holders will get “at-par” cheque books free of any charges once every three months. These cheques can be redeemed in any bank branch. They will also get internet banking and mobile banking facilities. Monthly average minimum balance is fixed at Rs 10,000 in cities, Rs 5,000 in semi-urban areas and Rs 2,500 in rural areas. The interest is calculated on daily balance and deposited every three months.
ICICI Bank’s Advantage Woman Savings Account: Holders of the account will get special women’s debit cards. They can use any ATM from any bank free of charges. A multi-city cheque book is also provided. Bill pay, internet banking and mobile banking facilities are provided. A monthly average minimum balance of Rs 10,000 has to be kept in the account.
Corporation Bank’s Corp Mahila Power: A scheme that also helps the account holder to avail of loans and take advantage of insurance cover. On offer are personalised cheque books, internet banking and SMS banking facilities free of charges. Debit cum ATM card does not carry an annual charge. A quarterly average of Rs 2,500 has to be kept as minimum balance.
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