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Savings Account for Women

Highlights

  • What are some of the top Savings Account for Women in India?
  • Know about some of the top banks in India that offer Savings Account for Women such as ICICI, Axis, HDFC, IDBI, etc.

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.

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 Top 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.

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We are showing some of the top features of HDFC Women’s Savings Account. Please have a look.

Features of HDFC Women’s Savings AccountDetails
Minimum Opening BalanceINR 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 CardEasyShop Woman’s Advantage Debit Card
Daily Card Withdrawal LimitINR 25,000
Daily Card Shopping LimitINR 1.75 lakh
Debit Card Features
  • Personal Accidental Death Cover of INR 5 lakh
  • Cashback of INR 1 on every INR 200 spent on selected categories
Cheque Book FacilityFree 25-leaves Multi City Cheque Book facility per year
Additional facilitiesFree of cost Passbook facility, E-mail statement, PhoneBanking and MobileBanking
Additional Features
  • Accidental Death and Hospitalisation Cover of INR 10 lakh and INR 1 respectively
  • Annual maintenance Charge Waiver of the First Year for Demat Account
  • Preferential Interest Rates on Loans as compared to other customers
  • 2% Lower Interest Rates on Two-wheeler Loans and 50% less processing Fee
  • Money Maximizer Facility
Charges on Non-maintenanceINR 150 to 600 ( Depends on the Location of Branch)
EligibilityFirst Account Holder Should be a Woman

ICICI Bank Advantage Woman Savings Account

For women customers who are looking to fund their own worth, an ICICI Bank Advantage Woman 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 below table.

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Features of ICICI Bank Woman Savings AccountDetails
Minimum Average Monthly Balance (AMB)INR 10,000 to INR 1,25,000 (Depends on the Variant of the Account)
Debit Card FacilityAvailable
Debit card BenefitsCashback upto INR 750 per month on categories like Dining, Entertainment, etc
Daily cash Withdrawal LimitINR 50,000
Nomination FacilityAvailable (there can be only one Nominee whether held single or jointly)
Free BenefitsPassbook facility, email statements, Free multi-city cheque book facility
Additional Features
  • 50% Discount on Locker Rental for the First year
  • Preferential Interest Rates on Home Loan, Personal Loan, Car Loan
  • Dedicated Relationship Manager on Higher variant
  • Money Multiplier Facility to earn higher interest
EligibilityAn 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 AccountDetails
Minimum Average Monthly BalanceCustomized
Debit Card FacilityAvailable (Platinum Card with 50% less issuance fee)
Locker FacilityAvailable with 35% discount on Locker rentals on the First year
Debit Card Features
  • Daily Withdrawal Limit of INR 40,000 (Domestic) and INR 50,000 (International)
  • Liability upto INR 3,50,000 on lost Debit card
  • Purchase Protection upto INR 1,00,000
  • Upto INR 4,500 cashback on transactions
Additional Features
  • Free Passbook Facility
  • Free Single Account Statement
  • Doorstep Services like Cash-pickup and Delivery, Cheque/Draft at your home
EligibilityResident 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.

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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 AccountFeatures
Minimum Opening DepositINR 10,000 (in Metro Cities)
Minimum Average Monthly Balance (AMB)INR 10,000 (in Metro Cities)
Debit Card FacilityVisa Platinum Debit Card (Available for Free)
Debit Card Issuance FeeINR 200
Debit Card Annual FeeINR 150 (Metro and Urban Locations)
Debit Card FeaturesDaily Withdrawal Limit of INR 40,000 at ATMs
Daily Shopping Transaction upto INR 3 lakh
Additional Features
  • Free Monthly e-statements
  • Free Cheque Book facility per year
  • Personal Accidental Insurance Cover upto INR 2 lakh
  • (For this, your card must be swiped for once in 6 months

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 AccountDetails
Minimum Average Monthly Balance (AMB)INR 5,000 ( Metro and Urban Locations)
INR 2,500 (Semi-urban)
INR 500 (Rural)
ATM-cum Debit CardAvailable (Specially Designed Women’s International Debit Card)
Daily Cash Withdrawal LimitINR 40,000 per day
Auto Sweep-in/ Sweep Out FacilityAvailable above INR 15,000
Additional Features
  • 25% discount on Locker Features
  • 50% Discount on Demat AMC
  • Free email statement
  • Free 10 Transactions at other Bank ATM
  • Two Zero Balance Account for Children below 18 years of age
Cheque Book facilityAvailable

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Personal Loan Interest Rates October 2020
Fullerton India14.00% - 33.00%
HDFC Bank10.75% - 21.45%
ICICI Bank10.75% - 18.49%
IndusInd Bank11.25%
Kotak Bank10.99% - 20.99%
RBL17.50% - 24.00%
Standard Chartered Bank11.00% - 15.00%
Tata Capital10.99% - 18.00%
Home Loan Interest Rates October 2020
Axis Bank7.75% - 8.55%
Bank of Baroda7.00% - 8.40%
Citibank8.20%
HDFC6.90% - 7.65%
ICICI Bank6.90% - 8.05%
Indiabulls Housing Finance Limited8.80% - 11.05%
Kotak Bank7.20% - 9.30%
LIC Housing6.90% - 7.90%
Piramal Capital & Housing Finance9.00% - 9.10%
PNB Housing Finance7.50% - 9.20%
Reliance Home Finance8.75% - 14.00%
State Bank of India/SBI6.95% - 7.60%
Tata Capital9.20% - 9.35%