Text size:
S M L
Letter spacing:

Get App

FinFIRST Blogs

Savings Account

Key features of Women’s Savings Account

Key Takeaways

FIRST Power Savings Accounts are specifically made for women who want to securely deposit their savings in digital savings accounts with high interest rates.
IDFC FIRST Bank offers health and insurance-related benefits through its women’s savings accounts such as a higher daily ATM withdrawal limit of ₹2 lakh and a daily purchase limit of ₹6 lakh with the ₹25,000 Average Monthly Balance Variant.

15 Sep 2025 by Team FinFIRST

Open an Account

Different Savings Accounts exist to cater to a variety of customers. Savings accounts for women help women to grow their savings and meet financial requirements and urgencies. However, this isn’t their only function. With features like competitive interest rates with monthly interest payouts, and quick fund access through digital channels, they also help women overcome financial emergencies effectively and empower them to grow their funds..

Savings account and investing - your guide to good financial health

How can a Savings Account help build an emergency fund?

How have digital savings accounts transformed the banking system?

Understanding savings accounts for women

Savings accounts for women is similar to regular savings accounts; except, they have a few key advantages for their customers. These accounts offer features that cater specifically to the financial needs of women.

For instance, the IDFC FIRST Power Savings Account for women (₹25K Average Monthly Balance Variant) offers a personal accident cover worth ₹35 lakhs and air accident cover of ₹1 crore along with a 1-year complimentary health benefit with MediBuddy.

In addition, women can also enjoy competitive rates, as well as monthly interest credits for enhanced savings.

To be eligible for IDFC FIRST Bank’s FIRST Power Savings Account, you must be a woman above 18 years of age, an Indian citizen, an Indian resident, or a foreign national residing in India and meeting the government of India criteria.

How savings accounts empower women

Women savings accounts can help us empower women in multiple ways –

These accounts ensure financial inclusion for women:

IDFC FIRST Bank’s savings accounts for women offer a high interest rate per annum and thereby ensure the financial inclusion of women. You can also sign up for a customised women savings account.

They offer highly secure modes of accessing one’s savings:

IDFC FIRST Bank’s FIRST Power Savings Account comes with an extremely secure mobile banking app to safeguard transactions and avoid unauthorised access. The bank offers highly secure modes of login such as biometric authentication to help customers access their savings account through the app with complete safety.

Women’s savings accounts help women be financially independent:

Equipping women with access to their savings 24/7 and helping them grow their savings over time is a significant step towards women empowerment.

Tailored savings accounts for women

Several banks offer tailored savings accounts for women, helping them consistently grow their income in the long term. IDFC FIRST Bank, for instance, offers complimentary health benefits to women savings accountholders for 1 year with MediBuddy and monthly interest credits.

Tips for women to maximize savings

Here are certain tips for women to maximise their savings using a savings account for women –

Choose a savings account that is savings-friendly:

A savings-friendly savings account offers multiple features to help you save more. IDFC FIRST Bank’s savings accounts, for instance, help you save more in three ways – monthly interest credits, an intuitive mobile banking app, and competitive interest rates.

Opt for a savings account with a higher withdrawal limit:

IDFC FIRST Bank’s savings accounts (₹25K Average Monthly Balance Variant) offer a higher daily ATM withdrawal limit of ₹2 lakh and a daily purchase limit of ₹6 lakh.

Prioritise savings accounts that offer health and insurance-related benefits:

IDFC FIRST Bank’s women savings accounts offer a free personal accident insurance of ₹35 lakh and air accident insurance cover of ₹1 crore with the Rs 25,000 annual monthly balance variant.

Choose a mobile banking app that helps you automate your regular payments:

You can choose a feature like IDFC FIRST Bank’s ‘Autopay’ feature to automate your regular payments such as payments towards rent, etc. This will help you avoid any late payment fees and help you save money in the long run.

Conclusion

A savings account for women helps women become financially independent by gradually increasing their savings over time. Women customers can also customise these accounts based on the features that they find relevant to their spending patterns.

Disclaimer

The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.

The features, benefits and offers mentioned in the article are applicable as on the day of publication of this blog and is subject to change without notice. The contents herein are also subject to other product specific terms and conditions and any third party terms and conditions, as applicable. Please refer our website www.idfcfirst.bank.in for latest updates.