Jana Small Finance Bank Launches 'Liquid Plus' Fixed Deposit With 6.75% Interest Rate
Retail investors can deposit a minimum of Rs 10 lakh and maximum up to Rs 3 crore to avail the benefit under the new interest rate scheme.
Jana Small Finance Bank Ltd. on Tuesday announced the launch of its new 'Liquid Plus' Fixed Deposit scheme. The scheme will offer an attractive interest rate of 6.75% per annum for tenures ranging from seven to 180 days, according to its media statement.
Retail investors can deposit a minimum of Rs 10 lakh and a maximum up to Rs 3 crore to avail themselves of the benefit under the new interest rate scheme.
For bulk deposits, it applies to amounts between Rs 3 crore and Rs 200 crore per customer, the statement said.
The liquid plus fixed deposit aims to facilitate easy and appealing short-term fund deployment with higher returns, responding to customer feedback on the need for short-term investment options, it said.
The 'Liquid Plus' Fixed Deposit is tailored to meet the needs of individuals, high-net-worth individuals, and corporates looking for short-term investment options that provide safety, liquidity, and guaranteed returns, according to the release.
In addition to competitive interest rates, this solution includes innovative features such as same-day (T+0) redemption, the option for partial withdrawals, and an instant overdraft facility when needed.
Importantly, there are no pre-maturity redemption charges or exit loads, making it a flexible and advantageous investment option, it said.
Ajay Kanwal, managing director and chief executive officer at Jana Small Finance Bank, said that the aim is to serve a new segment of customers who look at short-term bank deposits to manage their surplus money.
