Thrissur-based South Indian Bank has introduced a special product for women- ''Mahila Savings Bank Account".

The gender specific product will be offered in two variants, ordinary 'Mahila Savings Bank' account and ‘Mahila Plus Savings Bank' account.

The ‘Mahila Savings Bank' account can be opened with a minimum balance of Rs 1,000. Alternatively, a recurring deposit with a minimum monthly installment of Rs 100, for a minimum period of 12 months can be used for opening this account.

The higher variant, ‘Mahila Plus Savings Bank' account requires Rs 25,000 as the minimum opening balance. It can also be opened with a recurring deposit of minimum installment of Rs 1,000 per month for a minimum period of 12 months. The ‘Mahila Plus Savings Bank' accountholders will be entitled to attractive gifts.

The bank will offer ATM-cum-Debit Card and internet-banking facility on both the accounts. The card is offer at no annual maintenance fees.

Dr V A Joseph, Managing Director and Chief Executive Officer, South Indian Bank, said that the product has been developed to empower women. "Product is for the security of women," he added.

Earlier the bank launched an "all-women" branch, in Thrissur, the Cultural Capital of Kerala, on the occasion International Women's Day.