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.
Some of the features of Mahila Mitra Plus include exclusive preferential interest rates on housing loans, complimentary and customised insurance cover, and 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.
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 step forward in the mission to enhance women empowerment in India.
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