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Jana Finance Bank FD Interest Rates

Jana Finance Bank FD Rates 2020

Last Updated 05th Sep 2020

Jana Small Finance Bank is one of most reliable FD providers amongst a number of FD providers in the market. Jana Small Finance Bank FD offers a number of benefits to investors such as higher returns, flexible tenure, lower minimum deposit limit, and loan against FD facility, among others. When it comes to the FD interest rate, the highest rate offered on Jana Small Finance Bank FD is 7.50%. Latest Jana Small Finance Bank FD interest rate for senior citizens, on the other hand ranges between 4.00% to 8.00%.

Tenure FD interest rates Senior Citizen FD interest rates
7 days to 14 days 3.50% 4.00%
15 days to 60 days 4.25% 4.75%
61 days to 90 days 5.50% 6.00%
91 days to 180 days 6.00% 6.50%
181 days to 364 days 6.50% 7.00%

Jana Finance Bank Fixed Deposit (FD)

Jana Small Finance Bank FDs are one the best investment option available for depositors who are looking to invest in a fixed income instrument and earn higher returns than savings account. Key Features of Jana Small Finance Bank FD are:

  • Deposit Amount: Jana Small Finance Bank FD can be opened with an amount as a low ₹ 1,000 to up to No limit.
  • FD Tenure: Ranges between 7 days to 3 years.
  • Interest Rate Range: 3.50% p.a. to 7.50% p.a.
  • Senior Citizens FD Rate: 4.00% to 8.00% p.a.
  • Highest Interest Rate: As per today’s rate, Jana Small Finance Bank’s highest interest rate on FD is 7.50% offered for a tenure of 3 years.
  • Safety of Jana Small Finance Bank Deposits: Jana Small Finance Bank deposits are covered under the Deposit Insurance Scheme of RBI in which up to ₹ 5 lakh of all deposits of a depositor are insured by DICGC.
  • Loan against FD: Jana Small Finance Bank provides loan against FD to help its depositor meet their liquidity requirements without breaking the FD.
  • Auto Renewal Facility: Available
  • Nomination Facility: Available
  • Popular FD Schemes: Regular Deposit, FD Plus , Deposit Of 2 Crore And Above, Jana Small Finance Bank Tax Savers FD

Jana Small Finance Bank Best FD Plan

We need to compare tenure wise latest FD rate of Jana Small Finance Bank to choose the tenure at which it provides the highest interest rate. Jana Small Finance Bank FD rates are best for the deposits with a tenure of 2 years 1 day to 3 years, wherein the current FD rate of interest is 7.50% p.a

If one is looking to invest in short term deposits with Jana Small Finance Bank, FD interest rates range from 3.50% p.a. to 6.50% p.a for deposits with a tenure of 7 days to less than 365 days. These deposits are known as short term deposits as they have a tenure of less than 1 year. Short term Jana Small Finance Bank FD rates for senior citizens range from 4.00% to 7.00% p.a.

If one is looking to invest in long term deposits, Jana Small Finance Bank FD interest rates with tenure of 5 years to 10 years are a good choice with interest rates on deposits with a tenure of 10 years at 6.50%. Senior citizens are offered special rates from bank with highest deposit rates of 7.00% p.a. on long term FDs.

Fixed Deposits of Jana Small Finance Bank have a higher interest rate compared to their saving deposits. Benefits of opening a FD account in Jana Small Finance Bank are:

  • Interest on deposit is paid only at the time of the maturity
  • Nomination facility available
  • Extra interest of 0.25% to 0.50% payable to the senior citizens
  • Availability of auto renewal facility on the deposit
  • Earn higher returns on the money deposited

Documents required to open Fixed Deposit Account in Jana Small Finance Bank

  • Identity proof
  • Proof of residence
  • Passport size photograph

FD in Jana Small Finance Bank – Premature Withdrawal

Premature closure of Term Deposit with Jana Small Finance Bank is along with the lower interest rate of than the contracted rate. The penal provisions for premature closure on Jana Small Finance Bank FD are subject to change from time to time and may also vary with deposit schemes.

Loan against Fixed Deposit Jana Small Finance Bank

Jana Small Finance Bank offers loan up to 0% against its own deposit. Note that Jana Small Finance Bank will not give you loan against FD of any other bank. Jana Small Finance Bank offers Loan against FD at the rate of 4.5% to 8.5%

FD Account Opening Process at Jana Small Finance Bank

To open a Fixed Deposit account in Jana Small Finance Bank, you can visit the official website and login to your account. Choose Fixed Deposit option from the menu and select the Type of FD you want to open and proceed. After this, you have to fill the deposit amount and select ‘Senior Citizen’ option if you are above 60. You have to choose the tenure of deposit and interest payout frequency. Click on Submit to open the Jana Small Finance Bank FD after reading the terms and conditions.

Nomination Facility on Jana Small Finance Bank FD

Jana Small Finance Bank offers nomination facility on Fixed Deposit to claim the amount in case of the death of the depositor. An individual, single or joint account holders can appoint a nominee. Only one person can be appointed as nominee. You can fill nominee details while opening a Jana Small Finance Bank fixed deposit. Nominee has to submit his/her identification proof at the time of claim.

Jana Small Finance Bank Fixed Deposit Scheme

Regular Deposit

Description:

  • Jana Small Finance Small Bank FD ease of investment, moderate returns, high liquidity and the safety of funds make it a competent FD. Jana Small Finance Bank is a viable option to park surplus for growing money.
  • The minimum initial deposit should be Rs. 1000.
  • Cumulative and non-cumulative interest payout options available.
  • Premature withdrawl option is available.

Who is eligible?

  • Individuals Minors Proprietorship Hindu Undivided Families Registered and Unregistered Body Private Limited NGO Partnerships Trusts Cooperative Society
FD Plus

Description:

  • FD plus provides high-interest rates and safety for the lumpsum amount. It offers a higher interest rate than the Regular FD and thus becomes an excellent investment to grow hard-earned money.
  • The minimum initial amount should be Rs. 15,00,001
  • It offers higher interest rate than the regular FD

Who is eligible?

  • Individuals Minors Proprietorship Hindu Undivided Families Registered and Unregistered Body Private Limited NGO Partnerships Trusts Cooperative Society
Deposit Of 2 Crore And Above

Description:

  • Jana Bank Fixed Deposit of Rs.2 Crores And Above is designed explicitly for HNIs, Corporates, SSO and government institutions to invest their surplus funds and earn high-interest rates.
  • It has a minimum deposit value of Rs. 2 crores.
  • Premature withdrawal facility is available.

Who is eligible?

  • Individuals Minors Proprietorship Hindu Undivided Families Registered and Unregistered Body Private Limited NGO Partnerships Trusts Cooperative Society
Jana Small Finance Bank Tax Savers FD

Description:

  • Tax-saving FD allows one to save tax under section 80C of the Income Tax Act. The minimum tenure for a term deposit under Tax Saving Scheme is five years. Under this, one can get a tax exemption of a maximum of Rs.1.5 lakh.
  • It has a minimum deposit value of Rs. 100

Who is eligible?

  • Individuals Hindu Undivided Families

FAQs

What is the highest FD rate for Jana Small Finance Bank?

You can earn a maximum interest of 7.50% on Jana Small Finance Bank fixed deposit.

Are there any special rates for senior citizens FD of Jana Small Finance Bank?

Yes, senior citizens get a higher rate on their deposits compared to FD rates. The rate of regular FD are in the range of 3.50% to 7.50%. Compared to this, the rate of senior citizens FD are in the range of 4.00% to 8.00%.

Is there any minimum amount that I have to give for opening a Fixed Deposit with Jana Small Finance Bank?

The minimum deposit amount required to book an FD with Jana Small Finance Bank is ₹ 1,000.

Can I deposit additional amount in my FD account?

No, you cannot deposit any additional amount in your existing FD account as you are allowed to deposit only once at the time of opening the account. If you want to invest any additional amount in FD, you are required to open a new FD account.

Who is eligible for opening an FD account in Jana Small Finance Bank?

All resident individuals, HUFs, NRIs, Firms including minors are eligible to open a fixed deposit account.

What documents are required to open an FD account in Jana Small Finance Bank?

The documents required to open an FD account in Jana Small Finance Bank includes Identity proof , Proof of residence , Passport size photograph.

Is it possible to change the tenure of my existing fixed deposit account with Jana Small Finance Bank?

No, it is not possible to alter the tenure selected for the fixed deposit account once the account is opened. However, you may close your existing fixed deposit account and can open a new account with a desired tenure of your choice.

What are the implications of opening an FD bank account without having PAN?

Following are the implications for the customers opening an FD account with Jana Small Finance Bank without their PAN card

  • TDS will be deducted at the rate of 20% as against 10% under section 206AA
  • NO TDS credit from the Income Tax department
  • NO TDS certificate will be issued
  • Form 15G/H and other exemption certificates will be invalid and penal TDS will apply

What is the current interest rate on FD in Jana Small Finance Bank?

Current interest for FD in Jana Small Finance Bank ranges between 3.50% - 7.50%.

Can a customer open a FD account online in Jana Small Finance Bank?

Yes, you can submit your application for opening a FD account on the website of Jana Small Finance Bank. After submitting the application, you will be contacted by the bank’s representative for further process which includes filling an application process and submitting KYC documents.

In how many years FD will double in Jana Small Finance Bank?

The interest rate on FD depends upon the tenure you choose. To know the time period in which your FD amount will get doubled, you need to divide 72 with the 7.50%. For Jana Small Finance Bank FD the number of years in which your FD will get doubled is; 72/7.50 = 10


Jana Finance Bank News - Sep 2020
  • 2020-03-06 : FD Rates Revised By Jana Bank
    Jana small finance bank changed its FD rates with effect from March 3, 2020. The FD rates for 7 to 14 days are 5.00%, for 15 to 54 days it is 5.25%, and for 55 days it is 5.55%. The fixed deposit rate for a tenor of 56 to 90 days is 6.25%, for 91 to 180 days, it is 7.00%, and it is 7.50% for 181 to 364 days. Further, FD rates for 365 days is 8.00%, for 366 days to 554 days it is 7.75 %, and it is 8.15% for 555 days. The fixed deposit rate for long tenors of 566 days to 1554 days is 7.75%, for 1555 days is 8.25%, and 1556 days to 1824 days is 7.75%. The FD rates for 5 years is 8.00%, and for a tenor of 5-10 years, it is 7.00%.
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More