Federal Bank launches an exclusive feature-rich scheme for women

by Psu Connect
Date: 02-12-21

The savings scheme is called Mahila Mitra Plus and provides a curated set of features, designed to make financial planning and

Federal Bank launches an exclusive feature-rich scheme for women

Chennai: 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:

Exclusive preferential interest rates on housing loans
Complimentary and customized insurance cover
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.

About Federal Bank Limited

Federal Bank (NSE: FEDERALBNK) is a leading Indian private sector bank with a network of 1,289 banking outlets and 1,957 ATMs/Recyclers spread across the country. The Bank’s total business mix (deposits + advances) stood at ? 3.06 Lakh Crore as on September 30, 2021. Capital Adequacy Ratio (CRAR) of the Bank, computed as per Basel III guidelines, stood at 14.97% as on 30th September 2021. Federal Bank has its Representative Offices at Dubai and Abu Dhabi that serve as a nerve center for Non Resident Indian customers in the UAE. The Bank also has an IFSC Banking Unit (IBU) in Gujarat International Finance Tec-City (GIFT City). Federal Bank is transforming itself, keeping its principles intact, into an organization that offers services beyond par. It has a well-defined vision for the future as a guidepost to its prog