Whoever said wishes don’t come true hasn’t explored our offers!
  • Corp Mahila Power Account

    Corporation Bank offers a special bank account to working women. The key feature of this bank account is that account holders have easy access to loans of up to Rs.1 lakh. Balance maintained in the account will earn interest which is payable half-yearly. The account enables women to have access to banking facilities and benefits such as a cheque book, debit card, online banking, SMS banking and more.

    Features of Corp Mahila Power Account:

    With the Corp Mahila Power Account, you are entitled to a number of benefits. The key features of this account are designed to give women the benefits of banking facilities taking into account their financial needs.

    Cheque book facility

    Account holders will receive a personalised cheque book from Corporation Bank.

    Debit card

    Get access to ATMs and cashless transactions with a debit card from Corporation Bank.

    Interest

    The balance in the Corp Mahila Power Account will earn interest that is payable bi-annually.

    Internet banking

    Account holders will have access to an online banking account. Customers can transact, shop and pay for utility bills online.

    Complimentary insurance

    Customers will receive insurance cover of Rs.1 lakh against personal accidents.

    SMS Banking

    This service is provided to account holders to increase the convenience of banking with Corporation Bank. No charge is applicable for this facility.

    Loan Facility

    This account enables women to avail loans of up to Rs.1 lakh. The repayment structure spans across 24 EMIs. To avail the loan, any family member such as the spouse, mother, father, or any other earning member can stand as surety.

    Eligibility:

    • This account is intended for working women or women with an independent source of income.
    • Women who are salaried individuals, professionals, self-employed or those receiving regular rent income can apply.
    • The account is available at metro, urban and semi-urban areas
    • Applicants must be at least 21 years old and not older than 60 years.
    • Joint application is allowed. The first applicant must meet the eligibility criteria.

    Loan Options

    Women can avail of up to 10 times the Average Quarterly Balance maintained in the last two quarters. The loan amount also depends on the income.

    • Minimum loan quantum: Rs.25,000
    • Maximum loan quantum: Rs.1 lakh
    • Repayment: 24 EMIs

    To avail the loan, no security or collateral is required. A third party guarantee is required from the spouse, father, mother or any member of the family who is earning.

    Fees and Charges:

    Details Amount
    Average Quarterly Balance Rs.2,500
    Non-maintenance of AQB Rs.100 per quarter
    Debit Card fee Nil
    SMS banking Nil
    Cash withdrawal at ATMs Up to five transactions free in one calendar month Rs.20 per transaction thereafter
    Non cash transactions at ATMs Up to five transactions free in one calendar month Rs.10 per transaction thereafter
    Debit Card replacement Rs.200
    PIN regeneration Rs.50
    PIN Unblocking Rs.25
    Foreign Currency conversion charge 3.5% of transaction amount
    Online banking charges Nil

    Corp Mahila Power Account FAQs

    1. What are the timings for NEFT?

      You can carry out NEFT transactions between the following timings:

      Weekdays 8:00 am to 8:00 pm

      Saturdays: 8:00 am to 3:00 pm

    2. Can I use my debit card to withdraw money from other bank ATMs?

      Yes, you can use your debit card at other bank ATMs. You are allowed 5 free transactions post which you will be charged Rs.20 for cash transactions and Rs.10 for non-cash transactions. The debit card will be accepted at any ATM that bears the VISA logo.

    3. If my balance falls below Rs.2,500, will I be charged?

      You will be charged Rs.100 based on your Average Quarterly Balance. If your balance falls below Rs.2,500, you will not necessarily incur a penalty. The penalty is levied based on the average balance for three months.

    4. Can I open this account with my daughter who is unemployed?

      You can jointly open this account with your daughter provided you are earning a salary, rent or any other source of income. At least one applicant needs to meet the eligibility criteria set by the bank.

    5. Is this account available to senior citizen women?

      No, the maximum age limit for this account is 60 years.

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.

    Savings Account
    Net Banking
    Mobile Banking
    Savings Account By Top Banks
    Savings Account By Banks
  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.