New Savings Scheme: Government Bank Launches Exclusive Savings Plan for Women

Bank of Baroda Introduces Special Savings Account for Women with Auto Sweep Feature

On International Women’s Day, Bank of Baroda (BoB) announced a new savings scheme designed exclusively for women. The ‘BoB Global Women NRE and NRO Savings Account’ comes with an ‘Auto Sweep’ facility, enabling account holders to earn higher interest while enjoying benefits like affordable home and car loans. BoB is the first public sector bank to introduce such a dedicated savings account for women. Additionally, this account offers reduced processing fees on loans.

Key Features of the New Savings Scheme

Bank of Baroda has upgraded its premium NRI banking services by enhancing the features of its BOB Premium NRE (Non-Resident External) and NRO (Non-Resident Ordinary) Savings Accounts. These improvements aim to provide a more rewarding banking experience to women account holders.

According to Bina Waheed, Executive Director of Bank of Baroda, “The BoB Global Women NRE and NRO Savings Account acknowledges the evolving role of Indian women worldwide. It is designed to offer premium banking benefits and tailored features that empower them financially.”

Exclusive Benefits for Women Account Holders

The revamped BoB Premium NRE and NRO Savings Account includes a range of premium features such as:

• A customized debit card with higher transaction limits

• Complimentary access to domestic and international airport lounges

• Free safe deposit lockers

• Complimentary personal and air accident insurance coverage

Final Thoughts

With this innovative savings scheme, Bank of Baroda aims to provide financial independence and exclusive privileges to women account holders. The combination of higher interest earnings, lower loan processing fees, and premium banking benefits makes this an attractive option for women looking for a secure and rewarding banking experience.