On Thursday, Bandhan Bank launched ‘Avni,’ a new savings account tailored specifically for women. This account offers numerous benefits, including a debit card with free airport lounge access, personal accident insurance coverage of ₹10 lakh, and lost card liability protection of ₹3.5 lakh. Additionally, Avni account holders enjoy a 25% discount on locker rentals and a 50% discount on gold loan processing fees. To maintain the account, customers must keep an average quarterly balance of ₹25,000.
Ratan Kumar Kesh, Managing Director and CEO (interim) of Bandhan Bank, said, “We owe much of our success to our women customers. Bandhan Bank was founded to empower women. Through our Emerging Entrepreneurs Business (EEB) vertical, we have supported 2 crore women entrepreneurs, helping them earn livelihoods and improve their families’ lives. This new savings account further advances our commitment to women’s empowerment.”
This launch responds to Reserve Bank of India Governor Shaktikanta Das’s call for banks to create innovative products and leverage their branch networks to increase household financial savings. Bandhan Bank also plans to introduce additional products for specific segments such as senior citizens, NRIs, and students. Furthermore, the bank has rolled out a new enterprise-wide loyalty program, Bandhan Bank Delights, which lets customers earn reward points, called Delight Points, for use in purchases.