Women complain that they're asked about their or their husband's income sources and other requirements by the bank while opening an account. Most women's accounts are not active if they open so. To reduce the gender difference and following its target of 20 million active women accounts SBP has taken many steps.
- The minimum amount for women to open an account in any Pakistani bank is Rs 100 now.
- No account opening charges
- No minimum deposit fee
The Deputy Governor State Bank of Pakistan Seema Khalil, in Geo Pakistan, told about the incentives given to women to open their active bank accounts.
Seema Khalil told that there is an easy account facility for women. As women run the household with limited resources and can't take out much to pay the charges for opening a bank account.
Now through an easy account, women can open an account with just Rs 100 and a National identity card CNIC. Women accounts opened under Easy account will also get profits.
The easy account is for every woman whether she is a student or a housewife.
Women only need to show proof of income only if they applied for a loan up to Rs 500,0000 or above. SBP and all banks give loans to women at lower interest rates. The loans are available for marriage, education, and housebuilding but very few women know about it.
Women comprise the larger portion of our population but there are only 18% active women account compared to 51% active men account. There is a crucial need to take and benefit women in mainstream financial flow through active bank accounts. State Bank has also launched the 'banking on equality scheme' scheme for the inclusion of women in financial causes.
Now women can get business loans of up to Rs5 million at 5% interest. Prime Minister’s Successful Youth Scheme YES kamyab Jawan allows women to take loans up to Rs1 million without collateral.
The successful youth entrepreneur scheme YES program has a quota for 25% women. State bank of Pakistan has also launched a financial literacy program for women's awareness in this regard.
The SBP literacy program will provide awareness to 1 million people where 50% of whom will be women where most will be from the agriculture sector.
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