Concerns Universe Foundation

Movement for sustainable development in Bengaluru

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Savings Schemes

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Concerns is also working to support people in managing their finances. Many women who are struggling economically depend upon money lenders who charge very high interest rates. This practice is discouraged by the Concerns team, who instead promote secure savings schemes with the bank. The team encourages women, who mostly work as domestic servants, to form small groups who will make monthly deposits of between 100 and 300 rupees each into a savings account. The funds saved are spent on much needed products such as food grinders, school fees etc.

These schemes have given the women confidence in making use of bank services and many are now opening individual savings accounts, providing them with financial security and self-reliance.

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