My banker (Federal Bank) wants me to consider the women only Mahilamitra account. What are the features i can hope to get if I opt for one?
Federal Bank offers a savings bank account designed exclusively for the women. Known as Mahilamitra or a woman’s best friend the account offers an international gold debit card. Mahilamitra account holders get additional benefits like a free Demand Draft service, mobile and internet banking along with free RTGS and NEFT fund transfer facilities. All Mahilamitra account holder women also get 50% concession on processing fee or administration Fee for all retail loan products. To avail all the above mentioned facilities you will have to maintain an average monthly balance of Rs. 5,000
With a vision to empower the women of our country, Federal Bank has introduced a savings bank account designed specially to address the financial needs of women. The Federal Bank Mahilamitra is a savings bank account which comes loaded with a host of beneficial and exciting features like an Federal Bank Debit Card for anytime access to cash and convenience of shopping, free internet banking and mobile banking for carrying out transactions anytime you may need, high transactions limits not only for cash withdrawals but also for shopping transactions, convenience of making quick and easy fund transfers electronically via NEFT or RTGS, attractive discounts on retail loan products, free email and mobile alerts to keep track of account activity and numerous other similar features. Here are some of the best features.
• 40 Free Cheque leaves per half-year
• One Free monthly account statement to be collected from Branch, if not opted for passbook.
• Visa International Gold Debit Card
• Free daily cash withdrawals up to Rs. 75,000 /- (through ATM)
• Free daily POS transactions up to Rs. 75,000/-
• Temporary overdraft facility through ATM’s up to Rs. 25,000/-
• Free Internet banking
• Free Mobile banking and Mobile alerts
• Free E-mail alerts
• Free monthly Demand Draft limit of Rs. 50,000/-
• 50% concession on service charges on collection of out-station cheques
• 50% concession on Processing Fee / Administration Fee for all Retail Loan Products
• Free RTGS / Free NEFT facility available
• Two Young Champ accounts in the name of minor children, with no AQB Stipulation
Looking for a Savings Account? Click here.