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International Women’s Day 2019: Here’re some women-friendly investment and personal finance products

March 16, 2019 1536
 

As the world gears up to observe the International Women's Day on 8th March, 2019, it is time for a general reflection on women's financial rights and associated fields. As women emerge to be the equal shareholders and participants in the economic processes around the world, it is very important that their financial interests are duly taken care of. When it comes to financial inclusion, women have certain specific needs and requirements and therefore, proper coverage must be ensured at all times. Often while comparison of investment products is done for women and their male counterparts, the need for a comprehensive coverage for women is often felt. This is because, apart from the professional requirements, women also have to take due care of their personal and family-driven needs. Therefore, the extent of coverage that is required for women is greater and multi-faceted. In view of this, following is a list of some women-friendly investments and personal finance products:

  1. Loan-rates and general rate of interest from financial institutions: Most financial institutions offer lower rates of interest to women. There are women-specific monetary plans and loans etc. that come at quite cheaper rates than what is offered to males. These financial tools must thus be chosen by women for better coverage at economical rates. These low interest rates are applicable for both home loans as well as car loans.
  2. Bank deposits and savings accounts: The savings schemes and account deposits offered by banks to women customers come with various attractive features and benefits. These benefits are offered in terms of cash-backs on purchases, debit and credit card allotments, higher limits of monetary withdrawals, locker facilities etc. Thus, the featured benefits must be availed for specific coverage scopes and furtherance of economic gains for women.
  3. Women-specific investment plans: Many financial institutions, banks etc. offer attractive investment plans and packages for women who wish to give wings to their entrepreneurial aspirations. Such plans offer many beneficial features like ease of disbursal, a set time period for disbursal, easy documentation etc. These plans are not limited to setting up of any concern or venture but also offer coverage in case of any short-term requirement.
  4. Women-specific insurance plans: Insurance providers these days are focused on customer-centric approach and as part of this, offer women-specific plans for due financial coverage. These plans may be market-linked as well as traditional in nature. The fund-options are diverse and offer the scope for a lot of flexibility. This allows the growth of funds at a stable rate as well as security of the invested funds. Plans such as women-specific ULIPs (Unit Linked Insurance Plans) serve as joint vehicles for insurance and investment and offer exclusive benefits for women.

HDFC Life offers HDFC Life Smart Woman Plan “ a women-specific plan that comes with specific benefits for women and allows a stable growth of funds. For details, click on the mentioned link: https://www.hdfclife.com/women-insurance-plans/smart-woman-ulip-plan

 

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