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International Women’s Day is celebrated globally on March 8 — a day dedicated to recognizing the contributions of women across the world. Beyond their achievements in various fields, financial empowerment is crucial for women to secure their future.
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In India, several financial benefits are designed to support women’s economic independence, including tax exemptions, lower loan interest rates, and special investment schemes.
Lower interest rates on loans
Banks and financial institutions offer lower interest rates on home and business loans for women. For instance, SBI provides a 0.05% concession on home loans for women borrowers.
This reduces the financial burden and encourages property ownership.
An example illustrating the total amount women can expect to save on preferential home loan rates.
| Particulars | Woman Borrowers | Other Borrowers |
| Loan Amount | ₹80 lakh | ₹80 lakh |
| Home Loan Interest Rate | 8.40% | 8.45% |
| Rate Difference | 0.05% | |
| Loan Tenure | 20 years | 20 years |
| Monthly Installment (EMI) | ₹68,920 | ₹69,173 |
| Total Interest Amount | ₹85,40,886 | ₹86,01,496 |
| Total Amount Payable | ₹1,65,40,886 | ₹1,66,01,496 |
| Savings on Interest Cost | ₹60,610 | |
(Source: Paisabazaar)
Special investment schemes
The government has launched several investment schemes for women:
Mahila Samman Savings Certificate (MSSC): Offers a fixed interest rate of 7.5% per annum with a tenure of two years.
Sukanya Samriddhi Yojana (SSY): Designed for girl children, it offers tax-free returns and an interest rate of 8.2%.
Savings accounts for women
Various banks and financial institutions offer high-interest savings accounts exclusively for women. These accounts come with benefits like debit card discounts, demat account waivers, and low-interest rates on loans.
Top savings accounts for women include RBL Bank Woman’s First Savings Account, Equitas Eva & Eva Elite Savings Account, Kotak Silk Women Savings Account, and others.
Maternity and insurance benefits
Women in the organised sector get paid maternity leave of up to 26 weeks. Health insurers offer maternity insurance, covering hospitalisation and childbirth expenses.
Entrepreneurship support
Women-led businesses receive support through government initiatives such as:
Mudra Yojana for Women: Provides collateral-free loans up to ₹10 lakh.
Stand-Up India: Offers loans between ₹10 lakh and ₹1 crore to women entrepreneurs.
Self-Help Groups (SHGs): Access to microfinance and subsidies for rural women entrepreneurs.
Discounts on property registration
Many states offer lower stamp duty rates for women property buyers. For example, Delhi and Haryana provide a 1-2% discount on stamp duty if the property is registered in a woman’s name.
First Published: Mar 7, 2025 3:05 PM IST
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