Bank of India launches 'Nari Shakti Savings Account' with personal accident insurance cover

Bank of India has launched 'Nari Shakti Savings Account' catering to women aged 18 and above with an independent source of income. The savings account offers personal accident insurance cover as high as ₹100 lakh, discounted health insurance and wellness products, rebates on locker facilities for gold and diamond account holders, and free facilities for platinum SB A/C holders.

Additionally, it offers a concessional rate of interest on retail loans, a waiver of processing charges on retail loans, free issuance of credit cards, and a higher usage limit of up to ₹5 lakh on POS.

The 'Nari Shakti Savings Account' is conceptualised as a financial savings tool to support working women with an independent source of income, enabling them to become self-reliant and enjoy a higher degree of financial freedom. For each New Nari Shakti Account opened, the bank will make a contribution of ₹10/- towards the CSR fund, which will be utilised for the socio-economic development of underprivileged women and the girl child, the bank said.