September 27, 2020 | Investopaper
Global IME Bank has launched a fixed (term) account scheme called ‘Meri Unilai’ with the objective of making women financially empowered and independent. The bank has come up with a plan to pay maximum 9 percent interest for a period of 6 months to 5 years.
The term scheme will help women to save in their name, make women accustomed to saving, provide better returns to women account holders and empower women financially, the bank said. This account can be opened for more than Rs 1 lakh. In order to encourage the habit of saving in this account, one can add the saving amount from time to time, as per the bank.
Along with this account, the bank will provide free debit card, 100 percent discount on locker fee, loan facility up to 90 percent of term savings and privilege card to customers who open a term account of more than Rs 1 million.
The bank has stated that the customers who open a term account under the scheme will get 100 percent discount on the processing fee when taking home loan and will provide the service at the customer’s doorstep if they commit to open a term account with a certain amount.