Axis Bank, one of the famous private banks in India, has finally launched the ‘ARISE Women’s Savings Account.’ Its aim is to meet the financial needs of women while providing essential health benefits. The features of this savings account include dedicated financial experts for women, customized baskets of stocks, and benefits to assist with health, lifestyle, and family needs.
Why Did Axis Bank Launch the Savings Account for Women?
According to the latest data from the National Statistical Office (NSO), women account for only 20.8% of India’s total bank deposits. Meanwhile, women make up 36.4% of all bank account holders. Women’s deposits in metropolitan areas are just 16.5%, while in rural areas, they account for 30%. This highlights the need to address financial inequality and increase women’s participation. Axis Bank believes its ARISE Women’s Savings Account will play a significant role in bridging this gap.
Empowering Women Financially: Axis Bank’s Perspective
Axis Bank MD and CEO Amitabh Chaudhry said, “In the current financial scenario, there can no longer be a one-size-fits-all solution. Now, it’s time to focus on the specific challenges and opportunities faced by women. The ARISE Savings Account will help women unlock their power and potential. We believe that financially empowering women creates a ripple effect, strengthening families, communities, and the entire country.”
What does the scheme offer?
Family Banking Program
- Benefits extended to three family members.
- Option to add children’s accounts without an initial deposit.
Locker Benefits
- No rent for the first year on small and medium lockers.
- 50% discount on normal rates from the second year onward.
Arise Debit Card
- High transaction limit: ₹5 lakh at POS and ₹1 lakh at ATM.
- Lounge access and reward points are included.
Complimentary Neo Credit Card
- Instant 10% discount on BookMyShow (up to ₹100/month).
- Up to 40% discount on Zomato orders.
- Earn 1 Edge Reward point for every ₹200 spent.
Financial Benefits of ARISE Women’s Savings Account
- Financial guidance by women experts.
- Exemption from AMC for Demat accounts in the first year.
- Option to invest in a customized basket of stocks.
- 50% off on SmartEdge for stock recommendations.
Healthcare Benefits
- Up to 70% discount on specialized diagnostic tests, including Pap smears, mammograms, and cancer screenings.
- Unlimited consultations with top hospital specialists, including general physicians, nutritionists, psychologists, and paediatricians.
- 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.
- 10% discount on beauty and fashion products at Nykaa.
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