Savings Account for Women
Last Updated : Aug. 17, 2020, 4:34 p.m.
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In the 80% of India’s population who have one or more than one Savings Account on their names, the number of women account holders is pretty substantial. Especially in today’s times, there has been a sharp increase in the women workforce numbers across several industries. Apart from working women professionals, household women also like to have a Savings Account on their names these days as everybody wants to save money safely. To fulfill women’s savings needs, several banks have an exclusive Savings Account for them.
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Women Savings Account comes with several benefits such as Free Passbook Facility, Free Cheque Book facility, Internet Banking, etc. More so, some of the banks like Kotak Mahindra Bank and HDFC Bank offer exclusive services to women customers on their Savings Accounts. In this article, we will cover all the aspects of Savings Account for Women and what are some of the top banks that have exclusive Savings Accounts for Women. So, if you are someone who is looking to open a Savings Account for yourself but confused between the options and their features, this article could be a good read for you. Keep reading to know more!
List of Best Savings Account for Women in India
As we said, there are several top banks of India that provide exclusive Savings Account for Women. These banks include HDFC Bank, RBL Bank, Kotak Mahindra Bank, ICICI Bank, etc. All of them provide seamless banking services like money transfer, bill payment, cheque book facility, etc, on their Savings Account. We are showing some of the top Savings Accounts for Women and their features below. Have a look.
HDFC Women’s Savings Account
When we jot down the list of top private banks of India, HDFC Bank stands out as the leading private bank of India. Among its several banking products, HDFC Women’s Savings Account is one of the popular products among women customers. Perfectly suitable to women of today’s times, this savings account could be a one-stop solution to them as it helps fulfill their investment and lifestyle needs. Features like Accidental Death Cover, Accidental Hospitalisation Cover, Annual Maintenance Charge, etc, make this account more worthy for women.
We are showing some of the top features of HDFC Women’s Savings Account. Please have a look.
| Features of HDFC Women’s Savings Account | Details |
|---|---|
| Minimum Opening Balance | INR 10,000 (For Metro & Urban Branches) INR 5,000 (For Sem-urban & Rural Branches) INR 2,500 (For Rural Branches) |
| Minimum Average Monthly Balance (AMB) | INR 10,000 (For Metro & Urban Branches) INR 5,000 (For Sem-urban & Rural Branches) |
| Debit Card | EasyShop Women's Advantage Debit Card |
| Daily Card Withdrawal Limit | INR 25,000 |
| Daily Card Shopping Limit | INR 2.75 lakh |
| Debit Card Features |
|
| Cheque Book Facility | Free 25-leaves Multi City Cheque Book facility per year |
| Additional facilities | Free of cost Passbook facility, E-mail statement, PhoneBanking and MobileBanking |
| Charges on Non-maintenance | INR 150 to 500 ( Depends on the Location of Branch) |
| Eligibility | First Account Holder Should be a Woman |
ICICI Bank Advantage Women Savings Account
For women customers who are looking to fund their own worth, an ICICI Bank Advantage Women Savings Account could be a suitable choice for them. Customers can enjoy several benefits, special discounts, offers, and some exclusive privileges. Features like Savings Account Portability, Money Multiplier, Discount on Lockers, etc. There are mainly four variants of this ICICI Bank Woman Savings Account — Regular, Silver, Gold, and Platinum. Each variant of this Savings Account for Women has different features that they can enjoy.
If you want to look at some of the extraordinary features of this savings account by ICICI Bank, check the table below.
| Features of ICICI Bank Women's Savings Account | Details |
|---|---|
| Minimum Average Monthly Balance (AMB) | INR 10,000 |
| Debit Card Facility | Available |
| Debit card Benefits | Cashback upto INR 750 per month on categories like Dining, Entertainment, etc |
| Daily cash Withdrawal Limit | INR 50,000 |
| Nomination Facility | Available (there can be only one Nominee whether held single or jointly) |
| Free Benefits | Passbook facility, email statements, Free multi-city cheque book facility |
| Eligibility | An Indian woman above 18 years and above can apply for this loan |
Kotak Mahindra Bank Silk Women’s Savings Account
Kotak Mahindra Bank is also one of the leading private banks of India that offers different banking products. But when we talk about exclusive products for Women, Kotak Mahindra has this amazing product named Silk. Designed for the women of current times, Silk is a Saving Account for Women with which they can enjoy several benefits such as Doorstep Delivery, Cashback on Shopping, etc.
It has got some extraordinary features that we are showing in the table below. Please check it out!
| Features of Silk - Women’s Saving Account | Details |
|---|---|
| Minimum Average Monthly Balance | Customized |
| Debit Card Facility | Available (Platinum Card with 50% less issuance fee) |
| Locker Facility | Available with 35% discount on Locker rentals on the First year |
| Debit Card Features |
|
| Additional Features |
|
| Eligibility | Resident Indian Women (Single or Joint) above 18 years of age |
Axis Bank Women’s Savings Account
Axis Bank also provides one of the finest Savings Accounts to women customers who want to be independent in their lives. It has some of the extraordinary features like Low Opening Deposit, Free Cheque Book Facility, Personal Accidental Insurance Cover, etc. With this Savings Account for Women, you will also get a VISA Platinum Debit Card with a nominal fee.
Some of the important features of this Axis Bank Women’s Savings Account are shown below. Check it out!
| Features of Axis Bank Women’s Savings Account | Features |
|---|---|
| Minimum Opening Deposit | INR 10,000 |
| Minimum Average Monthly Balance (AMB) | INR 10,000 |
| Debit Card Facility | Visa Platinum Debit Card (Available for Free) |
| Debit Card Issuance Fee | INR 200 |
| Debit Card Annual Fee | INR 150 (Metro and Urban Locations) |
| Debit Card Features | Daily Withdrawal Limit of INR 40,000 at ATMs Daily Shopping Transaction upto INR 3 lakh |
| Additional Features |
|
IDBI Bank Super Shakti Women’s Account
IDBI Bank has this exclusive Savings Account for Women who want to manage their financial life systematically. The most wonderful thing about this IDBI Super Shakti Women’s Account is that a woman customer can also get two free Minor Savings Accounts for the children below 18 years of age.
Apart from earning interest on your money, customers can avail of several benefits such as minimal documentation to open the account, faster funds transfer, online bill payments, etc. Also, the application process is so simple. You only need to contact Phone Banking Representatives or visit your nearest branch. We are showing some of the special features of IDBI Super Shakti Women’s Account. Have a look.
| Features of IDBI Bank Super Shakti Women’s Account | Details |
|---|---|
| Minimum Average Monthly Balance (AMB) | INR 5,000 ( Metro and Urban Locations) INR 2,500 (Semi-urban) INR 500 (Rural) |
| ATM-cum Debit Card | Available (Specially Designed Women’s International Debit Card) |
| Daily Cash Withdrawal Limit | INR 40,000 per day |
| Auto Sweep-in/ Sweep Out Facility | Available above INR 15,000 |
| Additional Features |
|
| Cheque Book facility | Available |