Bank Schemes: Bank of India Launches Nari Shakti Savings Account With Upto Rs 1 Cr Accident Insurance Cover

18 Dec, 2023 Author: Ayushee Joshi

Bank Schemes For Women: The Bank of India (BOI) has launched the Nari Shakti savings account for women aged 18 years or older, and who have an independent source of income. The purpose of this account is to empower them financially by offering them more features and privileges. The Nari Shakti Savings Account can be opened at any of the bank’s 5132 domestic branches or through its digital platforms.

Nari Shakti Savings Account Features

According to a statement released by BOI, the savings account offers benefits like up to Rs 1 Cr in personal accident insurance coverage, discounted health insurance and wellness products, and locker facility rebates for holders of gold and diamond SB A/Cs, among other things. The account additionally provides free credit card issuance, a higher usage limit of up to Rs 5 lakh on point-of-sale (POS) transactions, a concessional rate of interest on retail loans and reimbursements of processing fees on these loans. The bank stated that for each New Nari Shakti account opened, it will contribute Rs 10 to the CSR fund, which will be used to support the socio-economic development of underprivileged women and girls.