Jana Small Finance Bank, one of India’s top small finance banks, announced the debut of a comprehensive solution called “Liquid Plus” Fixed Deposit, which offers an attractive interest rate of 6.75% per annum for tenures ranging from 7 to 180 days. The rate applies to retail deposits of up to INR 3 crore and bulk deposits of up to INR 200 crore per customer. The liquid plus fixed deposit makes short-term fund deployment incredibly straightforward and attractive, with better returns. The Bank took this action in response to consumer feedback requesting short-term fund placement.
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“Liquid Plus” is intended to meet the demands of individuals, high-net-worth individuals (HNIs), and corporations seeking short-term investment opportunities with safety, liquidity, and guaranteed returns. Aside from high interest rates, this solution includes novel features such as T+0 (same-day) redemption, the option to make partial withdrawals, and an Instant Overdraft facility if needed.
Notably, there are no pre-maturity redemption charges, or exit loads, making this a highly flexible and advantageous fixed deposit investment option.
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Speaking on this development Ajay Kanwal, Managing Director and Chief Executive Officer, Jana Small Finance Bank said, “Our aim to serve a new segment of customers who will look at short term Bank deposits meeting their needs of managing surplus money.”
