Axis Bank, one of the largest banks in the private sector, has launched ‘ARISE Women’s Savings Account’. Its aim is to meet the financial needs of women along with providing them with essential health benefits.
Talking about the facilities of this savings account, it includes benefits like dedicated women financial experts, customized basket of stocks and help in their health, lifestyle and family.
Why did Axis Bank launch savings account for women
According to the latest data from the National Statistical Office (NSO), women’s share in India’s total bank deposits is only 20.8 percent. At the same time, women’s share in all bank account holders is 36.4 percent. Women’s deposits in metropolitan areas are only 16.5 percent, while in rural areas it is 30 percent. This shows that there is a need to remove financial inequality and increase women’s participation. Axis Bank claims that its ARISE Women’s Savings Account will play an important role in this direction.
Amitabh Chaudhry, MD & CEO, Axis Bank said, “The current financial landscape cannot be a one-size-fits-all solution anymore. It is time to focus on the specific challenges and opportunities faced by women. The Arise Savings Account will go a long way in helping women reach their power and potential. We believe that empowering women financially creates a ripple effect that strengthens families, communities and the nation as a whole.”
Family Banking Programme- Benefits extended to three family members. Includes option to link children’s accounts even without initial deposit.Locker benefits: No rent for small and medium lockers for the first year. From the second year onwards, 50% discount will be given on normal rates.
Arise Debit Card- High transaction limit of Rs 5 lakh at POS and Rs 1 lakh at ATM. Lounge access and reward points included.
Complimentary Neo Credit Card – Includes instant 10% discount on BookMyShow (upto Rs 100/month), up to 40% off on Zomato orders and 1 Edge Reward point on every Rs 200 spent.
Financial Benefits of ARISE Women’s Savings Account
- Financial guidance by women experts.
- Exemption from AMC in the first year for Demat account.
- Option to invest in a customized basket of stocks.
- Recommend Stocks at 50% Discount on SmartEdge
Healthcare benefits
- Up to 70% off specialty diagnostic tests for women, including pap smears, mammograms and cancer screenings.
- Unlimited consultations with top hospital specialists including general physicians, nutritionists, psychologists and pediatricians.
- Up to 10% discount on pharmacy prescriptions, access to wellness sessions including unlimited on-call consultations with dermatologists.
Lifestyle offers and discounts
- Exclusive childcare benefits with FirstCry Club membership.
- Free Swiggy One Membership.
- Get up to 10% off on beauty & fashion products at Nykaa.
