The Nari Shakti Savings Account is a new savings option offered by Bank of India which is the leading public sector bank in India. Shri Rajneesh Karnatak, MD & CEO, launched this initiative in the presence of the Board of Directors at the Head Office in Mumbai.
This account is designed mainly for women who are at least 18 years old and have a stable source of income. The account offers a concessional rate of interest on retail loans, discounted health insurance and wellness products, waiver of processing fees, and personal accident insurance coverage up to ₹1 crore. With the help of this account, working women with independent income sectors can become more financially independent and self-sufficient. Additionally, free credit card issuance and a higher POS usage limit of up to Rs. 5.00 lakh will be available to them.
The Nari Shakti Savings Account is designed as a savings tool to help working women who have their source of income so they can become more financially independent and self-sufficient. The bank will contribute Rs. 10 to the CSR fund, which will be used to support the socioeconomic development of underprivileged women and girls, for each New Nari Shakti Account that is opened. All 5132 domestic branches as well as online platforms will offer the Nari Shakti Savings Account.
