Shakthi - Strengthening her tomorrow

Shakthi – Strengthening her tomorrow

Shakthi - Strengthening her tomorrow

What is Shakthi?
A unique line of products specially designed to encourage and support long-term savings among women, while promoting female empowerment by enabling women to pursue entrepreneurial ventures and achieve greater financial independence.

Benefits of Shakthi

If the fixed deposit tenure is above 2 years: An additional 0.25% will be offered above the normal fixed deposit rate.
If the fixed deposit tenure is above 2 years: Senior citizens will be offered 0.75% above the normal fixed deposit rate, subject to the CBSL-approved ceiling rate.
Women who invest in Shakthi will enjoy special concessionary rates when applying for leasing facilities, gold loans, and other financial services from Janashakthi Finance PLC.

Eligibility Criteria

This product is available only to female customers.
The applicant must be 18 years of age or above.
The account/deposit must be opened in the name of a female individual.
In the case of a joint account, all account holders must be female.

Related FAQs

Who is eligible to open this product?

This product is available to female individuals aged 18 years and above, subject to the Bank’s KYC and regulatory requirements.

Can a joint account be opened under this product?

Yes. Joint accounts are permitted only if all account holders are female.

Can a male customer be added as a joint account holder?

No. Male customers cannot be account holders under this product. All account holders must be female.

Can an existing deposit be converted to this product?

Yes, provided all account holders meet the eligibility criteria of being female and comply with the product terms in force at the time of conversion.

What happens if a male is added to the account later?

If a male customer is added as an account holder, the account will no longer qualify for the women’s product benefits and may be converted to a standard deposit account.

What documents are required to open this product?

Customers must provide the standard KYC documents required by Janashakthi Finance, including proof of identity and address.

Can minors open this product?

No, this product is available only to female individuals aged 18 years and above.

Can premature withdrawals be made?

Yes, premature withdrawals are permitted, subject to Janashakthi Finance’s premature withdrawal policy.

Can this deposit be pledged as security for a loan?

Yes, the deposit may be used as collateral, subject to Janashakthi Finance’s lending policies.