For decades, the finances of Indian households were managed by “men,” as they were considered to be “good with money.” But, thanks to numerous social reforms, the rise in the education of the female child and the awe-inspiring achievements of women in all fields, today, the “fairer sex” has started taking over the reins of the household finances.

Financial inclusion starts with a savings account. It helps users to save money, earn interest on their savings, transfer funds, own a debit/credit card, do online shopping with their internet banking account, withdraw money, start a fixed deposit, invest in mutual funds and much more.

To get more women to open a savings bank account, several banks in India are attracting them with special “women-only” savings bank accounts that offer special features, customised offers and more.

Why do banks offer special savings accounts for women?

Even though the vast majority of women are employed, run businesses and earn money of their own, when it comes to investing and saving their money, the numbers are quite low. Women constitute less than 25% of all investors in securities and shares in India.

Not just investing, most women apart from those who are employed in the financial sector do not take an active interest in managing their finances. To overcome this situation, banks offer dedicated women savings schemes, with plenty of features, to attract and get more women to participate in the formal financial sector.

Here, in this guide, we list out the,

Top 5 Women’s Savings Accounts in India

  1. Advantage Woman Savings Account – ICICI Bank

ICICI bank, one of the top two private banks in India, believes that by offering women discounts and special offers on various skill-building courses, they help women make the best use of opportunities available to them. Hence, the bank offers the Advantage Woman Savings Account to help the female population manage their finances better and look after their family.

Highlights of the account

  • Debit Card Benefits – Women can enjoy cashback up to Rs. 750 per month on various offers. The debit card offered along with this account can be used any number of times at any bank ATM. The debit card also offers complimentary personal accident insurance for the account holder.

  • Enjoy 50% off on the rental of safety lockers for the first year.

  • Advantage Woman Savings account holders receive discounts in interest rates while applying for personal loans, home loans and car loans.

  • ICICI Bank offers a free tool, “My Money,” to help account holders track and manage their finances.

  • This account comes with convenient internet banking that lets you access and transact anytime and from anywhere.

  • Free passbook, free e-mail monthly statements, free cash withdrawal at any bank ATMs, direct line for customer queries are some of the stand-out features.


This account is available to all resident Indian women aged above 18 years.

Monthly Average Balance

When taken as a stand-alone account, the MAB to be maintained is Rs. 10,000.

How to apply?

You can easily apply for this account online or visit your nearest ICICI bank branch with KYC details to get started.

  1. HDFC Bank Women’s Savings Account

The HDFC Bank Women’s Savings Account is a special savings scheme tailored to meet the needs of the modern woman of today. The account offers various special benefits cashback, discounts and offers on shopping, preferential rates on loans, free insurance cover and much more. Simply put, it works as a single solution for a woman’s banking, investment and lifestyle needs.

Highlights of the account

  • Up to 0.50% cashback every time the account holder uses the Easy Shop Woman’s Advantage debit card to pay or shop.

  • 50% off the safety locker rental fees for the first year.

  • The debit card offers a very high shopping limit of Rs. 1,75,000.

  • Enjoy a wide range of special offers and discounts from HDFC bank for movies, utility bill payments, groceries, apparel, gadgets and more.

  • Access the account anytime from anywhere using internet banking, phone banking and via the HDFC bank app.

  • Free passbook, free e-statements, free BillPay facility using the PayZapp app, instant transaction alerts via SMS.

  • The account offers a total insurance cover worth Rs. 45 lakhs without paying any premium.

  • Account-holders get access to super-premium credit cards.

  • Account-holders enjoy preferential interest rates while availing loans and qualify for pre-approved loan offers.


This account is open to resident Indian women and foreign national women residing in India for more than 180 days

Monthly Average Balance

  • Rs. 10,000 for accounts opened at urban and metro branches 

  • Rs. 5000 for accounts opened at rural branches

How to apply? 

You can easily apply for this account online or visit your nearest HDFC bank branch with KYC details to get started. 

  1. Axis Women’s Savings Account

This account simplifies banking for the modern, independent women of today. The account offers various benefits like personal accident insurance cover, low monthly average balance, Axis eDGE rewards and more. 

Highlights of the account

  • Low opening deposit – This account can be opened with just Rs. 10,000 in metros. The account offers e-monthly statements making it easy for women to track their finances. 

  • Earn interest at rates starting from 3.5%. 

  • Free cheque books – Account holders can receive one chequebook free every quarter. 

  • Bank at your convenience – Access the account anytime from anywhere using mobile banking, internet banking. The account can be accessed at 14,000+ Axis Bank ATMs and 4000+ Axis bank branches. 

  • Bank easy with the Visa Classic Debit Card that is issued to account holders – The annual charges for this debit card is as low as Rs. 150. 

  • Personal accident insurance cover of up to Rs. 2 lakhs without paying any additional premium. 

  • Earn Axis eDGE reward points for every transaction – These points can be redeemed on future purchases. 


Open to all women residing in India

Monthly Average Balance

The MAB to be maintained is Rs. 10,000 at metros. 

How to apply? 

You can apply online or visit the nearest Axis bank branch with the required KYC documents. 

  1. Kotak Mahindra Bank Silk Women’s Savings Account

This account is exclusively for women and offers the best offers in dining, lifestyle, health and finance, making them empowered with their money.

Highlights of the account

  • Silk Debit Card – Enjoy high withdrawal limits and attractive cashback offers.

  • 35% discount on safety locker rentals for the first year. 

  • Access your account anytime anywhere and make hassle-free payments via internet or mobile banking. 

  • Swipe or pay using the Silk Debit Card and enjoy special offers on dining, shopping, movies and other purchases.

  • Get transactional details and instant alerts for your account via email and SMS. 

  • Enjoy doorstep banking services like cash pick-up or delivery, cheque pick-up and more. 

  • Key shopping partners include, Chumbak, Treebo, Zivame and several others. 


Resident Indian woman aged 18 years or above. 

Monthly Average Balance

The MAB to be maintained is Rs. 10,000 at metros. 

How to apply? 

You can apply online or visit the nearest Kotak Mahindra bank branch with the required KYC documents. 

  1. IDBI SuperShakti Women’s Savings Account

IDBI Bank offers special savings account for women – SuperShakti Women account. Additionally, the bank offers a zero balance account for girl children below 18 years. 

Highlights of the account

  • Specially designed international ATM cum debit card for women.

  • Withdraw cash at ATMs up to Rs. 40,000 per day

  • Personalised cheque book

  • Auto sweep in/sweep out facility for balances above Rs. 15,000

  • 25% discount on safety locker rental

  • 50% discount on demat account

  • Free monthly e-statement of the account 

  • Free ten transactions at other bank ATMs


All resident Indian women aged 18 or above

Monthly Average Balance

  • Metros and urban areas – Rs. 5000

  • Semi-urban – Rs 2500

  • Rural – Rs. 500

How to apply? 

You can apply for the account by calling IDBI customer care representatives using phone banking. The account opening team will get in touch with you at the earliest. 

Keep your documents ready

The documents required for opening a savings account for women are:

  1. Two latest passport size photographs

  2. Address & Identity proof documents - The commonly used ID proofs & Address Proofs for account opening are listed below:


 Type of Document  ID Proof   Address Proof 
 Aadhaar Card  Yes  Yes
 Passport  Yes  Yes
 Driving License  Yes  Yes
 Voters ID Card (Issued by Election Commission of India)  Yes  Yes
 Job Card by NREGA duly signed by an officer of the State Government  Yes  Yes
 Letter issued by National Population Registry confirming details of Name, Address   Yes  Yes


End Note

So, what are you waiting for? Choose any one of these savings bank accounts for women and start building your wealth. Compare the features and benefits of these bank accounts and pick the right one that meets your financial objectives. Additionally, while choosing a bank consider the accessibility – pick a bank that has a branch near to your home or office. Make sure to check out CreditMantri for detailed descriptions of regular savings bank accounts from leading banks.