Federal Bank, as part of its women empowerment agenda, launched a feature-rich Savings Bank product for women. The savings scheme is called Mahila Mitra Plus and provides a curated set of features, designed to make financial planning and investments easy for women.
Notable features of Mahila Mitra Plus include:
1. Exclusive preferential interest rates on housing loans
2. Complimentary and customized insurance cover
3. Processing fee waiver for home loans, and myriad other features
Women are also encouraged to open Savings Accounts in the names of their minor children through the provision of 2 Zero Balance Savings Accounts.
Speaking on the occasion, Shalini Warrier, Executive Director, Federal Bank said, “Mahila Mitra Plus is our latest offering, and has been specially created for women. The features of the product are designed to empower women for taking their own decisions and contributing to the overall growth of the economy.”
Gender diversity is one of the themes under the ESG goals of Federal Bank and with the launch of Mahila Mitra Plus, Federal Bank has taken a significant step forward in the mission to enhance women empowerment in India.