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‘Freo Save’ – Saving Account by FREO

Published on August 26, 2021
Current Context: The 1st credit led Neo bank of India named Freo has launched a zero balance saving account.
‘Freo Save’ – Saving Account by FREO
  • The name of the saving account is ‘Freo Save’.
  • The account was launched in partnership with Equitas Small Finance Bank (SFB).
  • The ‘Freo Save’ Saving account grants a 7% interest rate and allows to have a minimum balance of Rs 1 lakh.
  • It enables seamless integration with UPI which allows the customer's transfer funds in an online manner and make secure bill payments.
  • It also allows customers to maintain better credit scores and offers world-class customer support service.
  • Static Part: 
    • Neo Bank: It is a type of digital bank without any branches. It works in an online manner and is not available in the physical presence
    • HQ of Equitas SFB: Chennai, TN
    • Tagline of Equitas SFB: Its Fun Banking

Question: 

Q.1 In partnership with which SFB has Freo Neo bank has launched ‘Freo Save’ Saving account?
a. Equitas Small Finance Bank
b. Ujjivan Small Finance Bank
c. A U Small Finance Bank
d. Utkarsh Small Finance Bank

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