|Tenure||Regular customers||Senior citizens|
Jana Bank offers Regular Fixed Deposits to investors who wish to receive a high rate of return on their investment with no risk. Jana Bank Regular Fixed Deposit offers greater interest rates than a savings account or any other risk-free investing choice. The following are the benefits and characteristics of Jana Bank Regular Fixed Deposits:
Jana Bank Fixed Deposits of Rs.2 crore and beyond are particularly created for HNIs, Corporates, SSOs, and government organizations to invest and earn high-interest rates on their surplus cash. Some of the characteristics and benefits of this fixed deposit program are as follows:
Jana Small Finance Bank offers elderly people better interest rates over normal persons through Senior Citizen Fixed Deposits. Senior persons can invest in fixed deposits and receive 0.60 percent more than the interest rate available to the general public. The following are the advantages and characteristics of Jana Bank Senior Citizen Fixed Deposits:
The Period that begins from 7 days to 1 year or less than a year are known as short term fixed deposits, and their interest rates start from 2.5% to 6.25% depending on the number of days of the deposit for general customers, and from 3% to 6.75% for senior citizens.
A Medium-term fixed deposit, that is, from 1 year to 5 years, withhold interest rates are 6.5% to 6.5% for general customers and is 7% for senior citizens according to the period of lock-in.
A Long-term FD goes from 5 years to 10 years, and interest rate is 6% for general customers and 6.5% for senior citizens.
For opening a Jana Small Finance Bank FD, visit the nearest branch of Jana Small Finance Bank. A Relationship Manager will guide you on the FD application process.
Alternatively, one can also connect with a Customer Care Executive who will fix a service appointment with a Relationship Manager for the FD application process.
Individuals or entities satisfying the following criteria can opt for a fixed deposit in Jana Small Finance Bank –
The following documents have to be furnished for opening a Jana Small Finance Bank FD-
As per the general rules, fixed deposits under Jana Small Finance Bank are eligible for a tax deduction of up to Rs 1,50,000 under Section 80C in every financial year. However, different schemes might have different tax deductions applicable.
Jana Small Finance Bank provides loans against their Fixed Deposits. The loan and the rate of interest for the loan depend on the rules set by Jana Small Finance Bank.
If an investor wants to make a premature withdrawal, he/she will need to pay the penalty applicable to the rate of interest for the duration of the deposit. For fixed deposits of less than Rs.2 crore, the penalty rate is 0.5%, and for fixed deposits equal to greater than Rs.2 crore, the penalty rate is 1%.
Is there a penalty for removing a fixed deposit?
Yes, there will be a penalty if you remove your fixed deposit early.
How long may this fixed deposit be held for?
A fixed deposit can be opened for up to ten years.
Is it possible to create a fixed deposit for less than Rs.2 crore?
Yes, a fixed deposit of less than Rs.2 crore can be opened.
Do I have to be a current bank client to open a Jana Small Finance Fixed Deposit?
No, both existing and new clients are welcome to create a fixed deposit account with Jana Small Finance Bank.
How can I apply for a loan from Jana Small Finance Bank?
By accessing the bank's website, you may apply for Jana Small Finance Bank FDs. Fill out all of the required information to create a savings + FD account from the comfort of your own home.
What documents do I need to apply for the FD?
The documents that investors must supply, together with a completed and signed account opening form, are listed below.
Can I withdraw my money before the maturity period?
On a few FDs, Jana Bank allows for early withdrawal.
Regular FD: A penalty is imposed for premature withdrawal. The penalty is 0.5 percent for deposits less than INR 2 crore and 1 percent for deposits greater than INR 2 crore.
FD Plus: There is no provision for early withdrawal.
Tax saver FD: There is no provision for early withdrawal.