Federal Bank launched an exclusive feature-rich scheme for women

Why in news?

• Private sector lender Federal Bank has launched a feature-rich savings bank product for women.

About Mahila Mitra Plus Scheme

• 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.

Features

• The special features include exclusive preferential interest rates on housing loans, processing fee waiver for home loans, complimentary and customised insurance cover.
• Women are also encouraged to open savings accounts in the names of their minor children through the provision of two zero balance savings accounts.