For everyone, savings is a priority. It lets you build emergency funds and achieve retirement plans and other goals swiftly. Banks make this process easier with different Bank Accounts. They categorise the accounts based on your preferences. Also, they come with distinctive features. One of them is Online Banking.

A very demanding type of account in today’s time is a Womens Savings Account. It provides them with financial freedom and lets them save for their family and achieve other goals. The growing demographics of professional women have inspired banks to meet such needs. They do so by offering numerous benefits to independent women:

Rewards

Women enjoy several perks through this account. This involves discounts while shopping, swift transfers, and more. If you prefer using Debit or Credit Cards, you can maximise such benefits. However, understand that such discounts involve some conditions. It is best to understand them for better clarity. Once you compare such offers calculatedly, opening a Savings Account would be ideal.

Better interest rates

You generally get a fixed interest rate when you open a Savings Account. But when it comes to women, the interest rates are exciting. If you meet some specific eligibility criteria, you can leverage them rather than opting for a regular account.

Average minimum balance maintenance

A regular Savings Account requires you to maintain a massive sum. While there are banks that need you to maintain up to Rs. 2,000, others extend the limit up to Rs. 10,000. Meanwhile, a Women's Account can hold an average balance of Rs. 5000. This limit further reduces to Rs. 2,500 in some regions. Such a low balance offers higher liquidity and handles your expenses better.

Priority banking

As women have distinct needs, they get prioritised services and banking facilities. This includes immediate processing, privileged banking, and preferred balance maintenance. They are also assigned a dedicated relationship manager if you want premium services. Women should effectively handle these benefits by opting for the Womens Savings Account. Make sure to check them and decide your compatibility with your needs.

Other lucrative benefits

Women achieve momentous goals in varied aspects of their lives. This increases their savings. For fulfilling them, banks offer Loans and investment instruments as well. These include preferred interest rates and flexible EMIs. You can also invest in varied avenues like stocks, Mutual Funds, Term Deposits, Insurance Plans, etc. You can also efficiently manage them through Online Banking.