A fresh FD plan has been introduced by Jana Small Finance Bank. This is to cover urgent need. The Liquid Plus Fixed Deposit is a type of fixed deposit that offers 6.75 percent interest on terms ranging from 7 to 180 days.
A fresh FD plan has been introduced by Jana Small Finance Bank. This is to cover urgent demands. The Liquid Plus Fixed Deposit is a type of fixed deposit that offers 6.75 percent interest on terms ranging from 7 to 180 days. Should you be considering obtaining a short-term fixed deposit (FD), this program may be quite beneficial to you.
According to the bank, FDs with a minimum balance of Rs. 10 lakh will be eligible for this interest rate. In other words, the need to invest in it will be that you contribute a minimum of Rs 10 lakh. You are able to invest up to Rs 3 crore under this at the same time. You can invest anywhere between Rs 3 crore and Rs 200 crore if you make large deposits.
History or Background of Jana Small Finance Bank
Originally founded in 2008 as Janalakshmi Financial Services (JFS), Jana Small Finance Bank was created with the goal of providing low-income communities with easily accessible financial solutions. When the Reserve Bank of India (RBI) granted the institution a Small Finance Bank (SFB) license in 2017, it underwent a strategic change. In March 2018, the bank formally launched as Jana Small Finance Bank.
Serving rural communities, MSMEs, and other groups that have historically lacked access to traditional financial services is Jana’s core objective as a small finance bank. The bank serves both private citizens and commercial clients, providing a wide range of services like deposits, loans, and payment options.
Statement of MD and CEO of Jana small Finance bank
Ajay Kanwal, MD and CEO of the bank, stated that the goal of this product’s debut is to provide consumers with a short-term option. Instant overdraft facilities are available to customers. It also provides a partial withdrawal option and same-day redemption. The bank claimed that this product might help the average person, the wealthy, and corporations achieve their short-term investing goals. Returns with security, liquidity, and guarantee will also be available in addition to this.
The bank’s total deposit in the first quarter of the 2025 fiscal year was Rs 23,710 crore, an increase of almost 41% year over year. Simultaneously, the bank’s deposits in savings and current accounts were Rs 4846 crore, an increase of 47% year over year. Simultaneously, the bank had a 40% yearly increase in its total term deposit.