By Shailja Agarwal
With rising disposable earnings and participation in cash issues, the last word barrier to girls’s liberation is unravelling quick. This course of is abundantly aided by consciousness campaigns by the federal government, societal modifications, know-how, customised schemes and the ever-growing want of girls for monetary independence. The excellent news is that there are a variety of privileges on the planet of finance and investing which can be obtainable to girls solely.
The rising participation of girls within the workforce has additionally made them weak to a number of well being dangers which can be peculiar to their ilk. Many insurers have floated medical insurance plans that handle their typical wants. Apart from the same old complete medical insurance covers, there are particular covers obtainable for maternity care, assaults and burns, and so on. Insurers usually provide reductions in premium or further sum assured for ladies policyholders.
Lower charges on dwelling loans
Most banks provide further 0.05%-0.1% rebate in rates of interest on dwelling loans to girls debtors. Though the rebate might look paltry, this small concession could make a good distinction in EMIs and, in flip, the whole curiosity outgo in your complete mortgage tenure. And this isn’t all. The eligibility for ladies debtors is usually easier, stamp duties decrease and compensation interval longer too. The authorities additionally extends subsidy advantages underneath Pradhan Mantri Awas Yojana when a girl is a co-owner.
Did you realize that there are particular advantages for ladies even once they open a financial savings checking account? These embody free cheque books, smaller minimal stability, free insurance coverage covers, reductions in choose programs and locker leases. Check out the choices by ICICI Bank, IndusInd Bank, IDBI Bank and plenty of extra.
Customised choices
Women entrepreneurs taking a enterprise mortgage even have a variety of customised choices. Schemes like SyndMahila Shakti (Canara Bank), Shringaar/Annapurna (SBI), Shakti (Bank of Baroda) and Cent Kalyani (Central Bank of India) and, after all, MUDRA. These loans provide many advantages together with concessional rates of interest and relaxed eligibility standards. Banks additionally provide bank card merchandise particularly designed for ladies.
There are a number of different monetary schemes equivalent to Sukanya Samridhi designed to assist girls in the long term for his or her monetary independence and wealth creation. A mother or father can open a Sukanya Samriddhi account of a lady baby under the age of 10 years. The minimal quantity of deposit in a monetary 12 months is Rs250 and most deposit is
Rs 1.5 lakh. The account could be closed on maturity, which is after 21 years from the date of account opening or on the time of marriage of the woman baby after attaining age of 18 years.
The creator is an affiliate professor, Institute of Management Technology, Ghaziabad
Source: www.financialexpress.com”