Accept it or not, but it’s a bitter fact that women in India are always treated as subordinate and inferior to men. However, now things are definitely changing. Women are performing best in every domain, getting their rights back and even engraving their names as leaders, successful entrepreneurs and also influential icons all over the world. The Indian government and financial institutions are contributing their best, to help them flourish and excel further. The government have been initiating various programs, schemes and yojanas to help and empower the women community of India, and in the same context financial institutions are always coming up with products and facilitates to maintain the gender parity. In this article, we will focus on one of the important aspect related to the financial facility for women in India.
Today, various financial products can be found, aimed specifically at women, and one such product is the savings bank account. Many financial institutions now have a ‘Women’s Savings Account’ which come with benefits like cashback offers, lower processing fees on loans and other charges that regular accounts do not have. Most banks such as ICICI Banks, HDFC Bank, Kotak Mahindra and RBL offer customized bank accounts for women. But, many women, especially rural women are unaware of these savings account facility and there are many who often forget to plan their investment and thus depend on their spouse or father to decide it for them. Through this article we aim to help the women community of India to understand the importance of money and its investment aspect to avoid critical situations and be prepared to face it. To further provide a little guidance, we have curated top five personal savings account for women. Have a look:
Silk Women’s Savings Account - Kotak Mahindra Bank
With a dedicated savings account for women, Kotak aims to empower the women community of India by offering special benefits and features that are mentioned below:
Advantage Woman Savings Account - ICICI Bank
ICICI bank is one of the top two private banks in India. The institution believes that by offering special discounts and offers on various skill-building courses, they help women make the best use of opportunities available to them. With the goal, ICIC bank offers the Advantage Woman Savings Account to help the women community to manage their finances better and look after their family.
Women’s Savings Account - Axis Bank
Axis Bank’s dedicated Women’s Savings Account is aimed towards simplifying the banking activities and enhance the experience for the independent women of today. Axis says that this account allows users to save easily while easing the way they transact. Following are the facilities that users can get:
Super Shakti Savings Account - IDBI Bank
IDBI’s SuperShakti women account is a unique savings account, tailor-made for women, with an aim to support them with their financial activities. The IDBI savings account comes with a zero balance savings account for the women customer’s child (below the age of eighteen years). Some of the other primary features of IDBI Super Shakti Women’s Account are:
Women’s Savings Account - HDFC Bank
A complete solution for a women’s banking, investment and lifestyle needs. HDFC Bank Women’s Savings Account offers great savings and deals with this special account facility. The account offers various special benefits cashback, discounts and offers on shopping, preferential rates on loans, free insurance cover and much more. Simply put, it works as a single solution for a woman’s banking, investment and lifestyle needs.
So, listed above are some of the best banks which can be considered for opening and leveraging the saving account facility. We hope that the list will help our readers to compare the features and benefits of these bank account and pick the right one that meets their financial objectives.