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Corporation Bank launched a new loan-linked savings bank account — ‘Corp Mahila Power' — on Tuesday.
A bank release said here that ‘Corp Mahila Power' was launched by Mr Ramnath Pradeep, Chairman and Managing Director of the bank, at the 12th Commonwealth-India Small Business Competitiveness Development Programme in Bangalore on Tuesday.
The release states that ‘Corp Mahila Power' is designed for working women or women with independent source of income. The account stipulates maintaining a quarterly average balance of Rs 2,500.
The accountholder is provided with personalised cheque book, debit card, any-branch banking, Internet banking and SMS/mobile banking, free of cost.
As a special add-on, the bank provides personal accident insurance cover of Rs 1 lakh to the accountholder. The release said that the accountholder can take a personal loan of up to Rs 1 lakh, depending on her income.
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