The Nari Shakti Savings Account, offered by Bank of India, goes beyond a simple savings account. It’s a financial tool designed specifically for women, empowering them with a range of benefits that cater to their unique needs and aspirations. Here’s a closer look at the key advantages:
Financial Security and Insurance:
- Personal Accident Insurance: The account offers a complimentary Personal Accident Insurance cover, ranging from Rs. 1 lakh to a substantial Rs. 100 lakh, depending on the account tier. This provides financial protection for the account holder and her family in case of unforeseen circumstances.
- Discounted Health Insurance: Women can access health insurance and wellness products at discounted rates, ensuring they prioritize their well-being without financial burden.
Enhanced Banking Experience:
- Concessional Loan Rates and Processing Charges: Nari Shakti account holders enjoy lower interest rates on retail loans, making them more accessible and affordable. Additionally, processing charges on these loans are waived, reducing the overall financial cost.
- Free Credit Cards and Higher Usage Limits: The account comes with the free issuance of credit cards, offering greater financial flexibility and convenience in transactions. Furthermore, a higher usage limit of up to Rs. 5 lakh on point-of-sale (POS) transactions allows for easier management of larger purchases.
Additional Perks and Tiers:
- Attractive Rebates and Free Facilities: Depending on the account tier (Silver, Gold, Diamond, and Platinum), Nari Shakti account holders can benefit from attractive rebates on locker facilities and free services like cheque books and demand drafts.
- Zero Balance Account: The account offers the flexibility of a zero balance requirement, eliminating the worry of penalties for not maintaining a minimum balance.
Overall Empowerment:
The Nari Shakti Savings Account goes beyond just financial benefits. It signifies a commitment towards empowering women by providing them with the tools and resources to achieve financial independence and security. This not only uplifts their individual lives but also contributes to their overall social and economic well-being.
Important Note: While the information above focuses on the benefits offered by Bank of India’s Nari Shakti Savings Account, it’s crucial to remember that other banks might have similar schemes with varying features and benefits. It’s advisable to compare offerings from different institutions before choosing the account that best suits your specific needs.
