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Business News/ Money / Personal Finance/  What is Blossom Women Savings Account launched by this small finance bank? Details here
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What is Blossom Women Savings Account launched by this small finance bank? Details here

Any female residents can open this account with a minimum balance of Rs 10,000. The account enables them to earn an interest rate of up to 7 percent on savings account

Women savings account holders will be given a specially designed RuPay Platinum Secure Chip debit card Premium
Women savings account holders will be given a specially designed RuPay Platinum Secure Chip debit card

In order to woo female customers, Suryoday Small Finance Bank recently launched Blossom Women Savings Account. Although this is similar to other saving bank account, it offers a range of benefits over and above of the regular features. This account can be opened by any female resident by depositing a minimum balance of Rs 10,000.

The account enables customers to earn an interest rate of up to seven percent on savings account (check the table below). Apart from the interest rate, account holders are entitled to receive a specially designed RuPay Platinum Secure Chip debit card that carries following features:

I. There is an ATM withdrawal limit of Rs 40,000 per day along with 20 free monthly transactions on other ATM in India.

II. The card is eligible for unlimited number of transactions on POS (points of sale)

III. On the top of it, the card offers a personal accidental death insurance or permanent total disablement cover amounting to Rs 2 lakh.

Amount                           Rate of interest (%) 
Up to Rs one lakh                   3.75
Rs 1-5 lakh                                  6.75
5 lakh to 2 crore                   7
Between Rs 2-5 crore             6.5
Above Rs 5 crore                   5

(Source: https://www.suryodaybank.com)

Other benefits

To garner the attention of female customers, the bank also extends a variety of features to customers belonging to the fairer sex.

First of all, there are debit card offers and discounts. The account holders will also get competitive cash deposit limits. There will be unlimited free NEFT (National Electronic Funds Transfer) transaction through internet banking and mobile banking.

The account holders will be eligible for 20 free monthly RTGS/IMPS transactions through internet banking and mobile banking. Besides this, there will be one complimentary savings account Aditya variant for family member with no charges for non-maintenance of minimum balance.

There will be a doorstep banking facility subject to the availability of branch. The bank also promises to provide monthly e-mail statements free of cost and half yearly physical statement free of cost.

The bank also offers complementary vouchers of movie ticket or spa/salon. Also, there is a provision of preferential interest rate and processing fee on 2-wheeler loan in selected cities.

Money transfer options via bank account
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Money transfer options via bank account

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Published: 21 Mar 2023, 08:24 AM IST
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