SDB bank re-launched ‘Uththamavi’ Account to empower women entrepreneurs

Recognising the need to empower women entrepreneurs who struggle to rise with courage and their own efforts as well as contribute equally to the economy of the country and their family, SDB bank re-introduced its ‘Uththamavi’ Account for women along with new features.

This savings account is also unique as it provides women entrepreneurs with the opportunity to gain the required skills and develop the necessary talents in order to grow their businesses while fulfilling their financial requirements.

In order to encourage the habit of saving among women entrepreneurs, the ‘Uththamavi’ account offers a special interest rate of 6% per annum, while also offering them opportunities to obtain loan facilities in respect of the various fields they are engaged in, at an attractive rate depending on the nature of the business. 

The self-employment areas for which such low-interest loans will be made available are: coir production, food preparation, products associated with soft drinks, leather and leather related products, garment production out of cloth, wood and wooden products, industries related to agriculture, handicrafts production, animal husbandry/fruit and flower cultivation/production of aquarium fish, packaging industries, ceramic products/spice related industries, production related services (garages and service stations etc.), other industrial products, beauty parlours, agriculture, and small-scale communication units.

Speaking about the introduction of the ‘Uththamavi’ Savings Account, SDB bank Manager – Product Development Nilupama Madrawala said, “A woman is considered as the lifeline of a family. She who plays various roles within the family and in society including that of daughter, girl-friend, mother and grandmother, is indeed an aristocratic lady. Ensuring the economic security of the family can be identified as one of the main roles among them. Irrespective of whether she is employed or not, the ability to direct the family economy rests on her. There is much that a woman can do for the progress of the family including choosing to buy only the essentials and planned savings to realise life’s goals. The better choice for women entrepreneurs who desire to secure their futures as they achieve life’s goals is the SDB ‘Uththamavi’ Savings Account.”

There are also additional benefits such as opportunities to win attractive prizes, and Savings Deposit Certificates for the new-born child, and vouchers to buy clothing, jewellery, shoes or cosmetic devices based on the balance in the account. An ‘Uththamavi’ Savings Account holder will receive a 1% rebate when pawning jewellery.

Funds can be withdrawn any time as necessary, not only from the automatic teller network of the SDB bank, but from the VISA teller network spread throughout the country by using the VISA Debit Card provided with this SDB savings account. This card can also be used to make payments for purchases, saving time and ensuring security for the account holder.