Bank of India launches ‘Nari Shakti Savings Account’ for women
Introduction
Bank of India has taken a significant stride towards empowering women by introducing the 'Nari Shakti Savings Account.' This initiative is specifically tailored for women aged 18 and above, encouraging economic independence through innovative financial solutions.
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| Bank of India launches ‘Nari Shakti Savings Account’ for women |
Accessibility
The 'Nari Shakti Savings Account' is accessible through all 5132 domestic branches and digital platforms, ensuring convenience for women from various walks of life. This wide coverage reflects Bank of India's commitment to reaching every corner of the nation.
Conceptualization
Conceptualized as a robust financial savings instrument, the account aims to support working women with independent income sources. This strategic move aligns with the broader goal of fostering financial stability and independence among women.
Corporate Social Responsibility
Bank of India goes beyond banking by promising to contribute Rs 10 to the Corporate Social Responsibility (CSR) fund for every new 'Nari Shakti' account opened. This fund is dedicated to the socio-economic development of underprivileged women and girls, demonstrating the bank's commitment to societal well-being.
Insurance Benefits
Account holders can enjoy personal accident insurance cover with an impressive limit of up to Rs 1 crore. Additionally, women can take advantage of discounted rates on health insurance and wellness products, promoting their overall well-being.
Exclusive Offers
Gold and Diamond Savings Account holders under 'Nari Shakti' are entitled to attractive discounts on locker facilities. Moreover, women opting for this savings account can avail retail loans at concessional interest rates, further enhancing their financial opportunities.
Financial Flexibility
The 'Nari Shakti Savings Account' offers a range of benefits, including the facility of free credit card issuance. For increased financial flexibility, the account provides a higher usage limit of up to Rs 5 lakh on Point of Sale (POS) transactions.
Conclusion
In conclusion, Bank of India's launch of the 'Nari Shakti Savings Account' is a commendable step towards empowering women economically. By combining financial inclusivity with exclusive benefits, this initiative aims to create a positive impact on the lives of women across the nation.
FAQs
What is the eligibility criteria for the 'Nari Shakti Savings Account'? The account is designed for women aged 18 years and above with independent income sources.
How can one access the 'Nari Shakti Savings Account'? The account is accessible through all 5132 domestic branches and digital platforms.
What is Bank of India's commitment to Corporate Social Responsibility (CSR) with this account? Bank of India pledges to contribute Rs 10 to the CSR fund for every new 'Nari Shakti' account opened, dedicated to the socio-economic development of underprivileged women and girls.
What insurance benefits come with the account? Account holders can benefit from personal accident insurance cover with an impressive limit of up to Rs 1 crore.
Are there any exclusive offers for Gold and Diamond Savings Account holders under 'Nari Shakti'? Yes, they are entitled to attractive discounts on locker facilities, and women choosing this savings account can avail retail loans at concessional interest rates.
What is the financial flexibility offered by the 'Nari Shakti Savings Account'? Account holders can enjoy the facility of free credit card issuance, and for increased financial flexibility, the account provides a higher usage limit of up to Rs 5 lakh on Point of Sale (POS) transactions.
