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Kerala-based Federal Bank on Thursday launched a special car loan scheme offering concessions on interest rates on loans for women known as ‘SHE CAR’ on Thursday.
Under this scheme, women customers are offered a concessional rate of 10.5 per cent for loans repaid in 36 months, 10.75 per cent for a period from 36-48 months and 11 per cent for the period above 48 months. Two-wheelers are offered to women at 11 per cent.
A Surendran, GM and Retail Business Head, said, “SHE CAR is the latest of a series of loan products launched by the bank exclusively for women. Federal Bank recognises and respects the growing importance of women in our social and professional world.”
'MahilaMitra' savings account
SHE CAR is also offered as a combo with Federal Bank’s MahilaMitra savings account, which is specially designed for women. ‘MahilaMitra’ offers personal accident insurance of Rs 5 lakh along with cash back offers for debit card usage.
MahilaMitra customers can also open zero balance account in the name of their children.
'Diva Gold'
‘Diva Gold,’ a gold loan facility on concessional interest rates for women and educational loans to female students offered at a discount of 0.25 per cent are other two women-oriented products of the bank.
Federal Bank is also actively associated with ‘SHE TAXI’, a special woman-empowerment initiative of the Government.
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