Jana Small Finance Bank FD Interest Rates

2.5% - 6%
Interest rates
3 months - 10 years
Time Period
1000 - no limit
Min. - Max amount
QUARTERLY
Compounding

About Jana Small Finance Bank FD

Jana Small Finance Bank is a scheduled commercial bank that was founded in Bengaluru in 2008. They provide a range of deposits to guarantee that investors' earnings rise smoothly. The bank provides competitive interest rates on FDs. It also provides a premature withdrawal and overdraft option on its FDs.

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Started On2018
Head QuartersBengaluru
CRISIL RatingNA
CEOAjay Kanwal
Listed on exchange as
ICRA RatingNA

Jana Small Finance Bank FD Rates 2022

TenureRegular customersSenior citizens

Features & Benefits of Jana Small Finance Bank FD

  • The minimum amount is Rs. 1000.
  • Maximum Amount: There is no maximum amount.
  • 7 days is the bare minimum.
  • The maximum period is ten years.
  • Premature withdrawal is permitted.
  • Premature withdrawal penalty on deposits less than Rs.100 lakh – 0.5 percent; deposits greater than Rs.100 lakh - 1 percent

Types of Jana Small Finance Bank FD Schemes

Regular FD

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:

Scheme Details

  • The minimum amount is Rs. 1000.
  • Maximum Amount: There is no maximum amount.
  • 7-day minimum period
  • Maximum time frame: ten years.
  • Premature withdrawal is permitted.
  • Premature withdrawal penalty on deposits less than Rs.100 lakh – 0.5 percent; deposits greater than Rs.100 lakh - 1 percent.
  • Eligibility - Individuals, Minors, Proprietorship, HUF (Hindu Undivided Family), Registered and Unregistered Body, Cooperative Society, Trusts, Partnerships, NGO, and Private Limited can open Jana Fixed Deposit accounts.

2 Crore and Above FD

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:

Scheme Details

  • The minimum amount is Rs. 2 crores.
  • 7-day minimum period.
  • There is a facility for premature withdrawal.
  • Eligibility - Individuals, Minors, Proprietorship, HUF (Hindu Undivided Family), Registered and Unregistered Body, Cooperative Society, Trusts, Partnerships, NGO, and Private Limited can open Jana Bank Fixed Deposits of Rs.1 crore and higher.

Senior Citizen FD

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:

Scheme Details

  • The minimum amount is Rs. 1000.
  • Maximum Amount: There is no maximum amount.
  • 7 days is the bare minimum.
  • The maximum period is ten years.
  • Get an extra 0.60 percent interest rate on top of the standard FD card rate.
  • Premature withdrawal is permitted. Deposits of less than Rs.100 lakh are penalized at 0.5 percent; deposits of Rs.100 lakh or more are penalized at 1 percent.
  • Eligibility - Resident Individuals aged 60 and above can open a Jana Bank Senior Citizen Fixed Deposit account.

Term wise Jana Small Finance Bank FD Rates

Short-Term 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.

Medium-Term Deposits

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.

Long-Term Deposits

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.

Jana Small Finance Bank vs Other Banks' FD Rates

NameTenureInterest rate

How to invest in Jana Small Finance Bank FD?

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.

 

Eligibility to Open Jana Small Finance Bank FD

Individuals or entities satisfying the following criteria can opt for a fixed deposit in Jana Small Finance Bank –

  • Individuals (including minors)
  • HUF
  • Partnerships
  • For tax saver FDs, only individuals and HUFs are eligible to invest.
  • Private Limited Companies
  • Proprietorship
  • Trusts, NGO, Cooperative Society, Registered and Unregistered Body

Documents to Open Jana Small Finance FD

The following documents have to be furnished for opening a Jana Small Finance Bank FD-

  • PAN Card or Form 60
  • Recent photograph
  • Passport, Voters ID, driving license, a letter issued by National population Register, job card issued by NREGA
  • FATCA declaration
  • Aadhaar Card 

Tax on Jana Small Finance Bank Fixed Deposit

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.

Loan Against Jana Small Finance Bank FD

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.

Premature Closure of Jana Small Finance Bank FD

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%.

FAQs

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.

  • PAN Card
  • Aadhaar Card
  • Other officially valid papers include a passport, voter ID, driving license, NREGA work card, and a letter from the National Population Register.
  • FATCA declaration
  • Recent photograph

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.

Calculate Jana Small Finance Bank FD Interest
Investment Amount
₹25,000.00
Time Period
9 Months
1 Year
2 Years
3 Years
Maturity Amount
Jana Small Finance Bank
@6.25% p.a
Get higher interest rates
online upto 0%
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