"We may be poor, but we are so many. Why don't we start a bank of our own ? Our own women's bank, where we are treated with the respect and service that we deserve."
- Chandaben, old clothes seller,
Founder - member, SEWA Bank
"How many times do we need to prove that poor women are bankable?"
This is a long term secure saving scheme. This scheme is intended as an old age benefit scheme where women save regularly for a period of 10, 15 or 20 years. They get a lump sum cash back at the end of savings term or they have option of getting monthly income as interest and the lump sum saved amount remains with the bank as a fixed deposit in the name of the woman. This is also known as SEWA Bank's savings linked old age "Pension" scheme and is very popular among women. Many women also use this scheme in their planning to buy their own house.
On the above mentioned lump sum savings, get monthly income as follows:
Savings
50
100
200
300
400
500
3 Years
2,007
4,014
8,028
12,042
16,056
20,070
5 Years
3,597
7,194
14,388
21,582
28,776
35,970
6 Years
4,478
8,956
17,912
26,868
35,824
44,780
7 Years
5,423
10,846
21,692
32,538
43,384
54,230
8 Years
6,436
12,872
25,744
38,616
51,488
64,360
9 Years
7,522
15,044
30,088
45,132
60,176
75,220
10 Years
8,685
17,370
34,740
52,110
69,480
86,850
*As per RBI Rules and Regulations Bank's Board Of Directors has a right to change the scheme in Future
