Jana Small Finance Bank launches “Liquid Plus” FD at 6.75% interest rate

Current Context: Jana Small Finance Bank has recently introduced the “Liquid Plus” Fixed Deposit (FD) scheme, offering an attractive interest rate of 6.75% per annum.

• This scheme is designed for short-term deposits with tenures ranging from 7 to 180 days.
• Here are some key features of the Liquid Plus FD:
• High Interest Rates: Competitive rates providing better yields than traditional short-term investments.
• T+0 Redemption: Same-day redemption, allowing instant access to funds.
• Partial Withdrawal: Flexibility to withdraw a portion of your FD without penalties.
• Instant Overdraft Facility: Overdraft against your FD to meet urgent cash requirements.
• This FD is available for retail deposits starting from ₹10 lakhs up to ₹3 crores and for bulk deposits between ₹3 crores and ₹200 crores.

Question:

1 What is the interest rate offered under the "Liquid Plus" FD scheme by Jana Small Finance Bank?

• A) 5.5% per annum
• B) 6.75% per annum
• C) 7.25% per annum
• D) 6.0% per annum

Answer: B) The "Liquid Plus" FD scheme offers an attractive interest rate of 6.75% per annum, which is competitive for short-term deposits.