Lenders across the country offer the facility of opening a regular savings account with a certain interest rate.
A savings account is a basic account that keeps customers' money safe and helps them grow their savings moderately.
State-run SBI currently offers 3.5 per cent interest rate on balance up to Rs.
1 crore in its savings bank accounts - which can be opened either with or without a cheque book facility.
Private-sector banks HDFC Bank, ICICI Bank and Kotak Mahindra Bankadditionally also offer specially designed savings account for women customers.HDFC Bank women savings accountTo open a women's savings account with HDFC Bank, the first account holder should be a resident Indian women.
Foreign nationals residing in India for a period greater than 180 days, who possess a valid passport, a valid visa, FRRO (Foreign Region Registration Office) certificate, and a residential permit can also open women's savings account with HDFC Bank, according to lender's website- hdfcbank.com.
HDFC Bank offers an interest rate of up to 4 per cent annum on this account.A minimum initial deposit of Rs 10,000 is required for metro and urban branches, Rs 5,000 is required for semi-urban and rural branches and Rs 2,500 is required for rural branches for opening women's savings account, according to the bank.
If the required average balance is not maintained in savings account, the following non-maintenance charges arelevied:(According to hdfcbank.com)HDFC Bank also offers a range of other features like EasyShop women's debit card with cashback offers, along with daily shopping and ATM card cash withdrawal limits with its women savings account.ICICI Bank women savings accountICICI Bank's advantage women savings account can be opened by any resident Indian woman of 18 years and above, according to the lender's official website- icicibank.com.
It offers an interest rate of up to 4 per cent per annum.
The minimum balance requirement is Rs 10,000, according to the bank.ICICI Bank offers cashback up to Rs 750 per month on dining, entertainment and jewellery with its women savings account.
The lender also offers complimentary personal accident insurance protection and purchase protection cover on the women savings account's debit card.Here are the high withdrawal limit and transaction limit of ICICI Bank women savings account's debit card:Daily cash withdrawal limit at ATMDaily purchase limit at retail outlets and on merchant websitesDomestic50,0001,00,000International50,0001,00,000(As mentioned onicicibank.com)Kotak Mahindra Bank women savings accountAny resident Indian women of 18 years of age or above can open a women's savings account with Kotak Mahindra Bank, according to bank's website- kotak.com.
Known as silk- women's saving account, this account offers up to 6 per centinterest per annum on savings, 35 per cent discount on locker rentals for the first year, and services like cash pick-up, cash delivery, cheque/draft delivery etc.
at home.Here are the additional features of Kotak silk debit card:Silk POS LimitRs.
2,00,000Silk ATM Withdrawal limitRs.
40,000-DomesticRs.
50,000-InternationalLost Card Liabilityup to Rs.3,50,000/-Purchase Protectionup to Rs.1 ,00,000/-Debit Card TypePlatinum cardPersonal Accidental Death Coverup to Rs.10 lakhsLost baggage Insuranceup to Rs.
1,00,000/-Air Accidental Death Insuranceup to Rs.
50 lakhs(According tokotak.com)Axis Bank also offers the facility of opening a women savings account.On the daily balance, this bank offers up to 4 per cent interest quarterly, according to the bank's website, axisbank.com.