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Jana Finance Bank FD - Scheme, Eligibility, Documents

Jana Small Finance Bank Fixed Deposit Highlights

Last Updated 25th Jun 2021

Jana Small Finance Bank fixed deposit is a reliable, secure and beneficial investment option that offers various benefits such as guaranteed returns, Government insurance, loan borrowing facility and flexible fixed deposit tenure.

Interest Rate 2.50% to 6.75%
Minimum Tenure 7 days
Maximum Tenure 10 years
Deposit Amount Rs. 1000
Maximum Deposit No limit
    Earn upto 6.95% on FD APPLY NOW

    Jana Small Finance Bank FD

    Jana Small Finance Bank is one of the leading fixed deposit providers in the country. The Bank offers FD with flexible tenures ranging between 7 days to 10 years . Apart from that, Jana Small Finance Bank FD offers regular returns on fixed deposits ranging between 2.50% to 6.75%. For senior citizens, the interest rates on fixed deposits range between 3.00% to 7.25%. In addition to that, Jana Small Finance Bank fixed deposit plans offer tailor-made fixed deposit products for different kinds of fixed deposit investors.

    Types of Jana Small Finance Bank Fixed Deposit Schemes

    Different type of Jana Small Finance Bank term deposit products offered to the investors are listed as follows:

    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.

    Eligibility:

    • 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

    Eligibility:

    • 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.

    Eligibility:

    • 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

    Eligibility:

    • Individuals Hindu Undivided Families

    Benefits of Jana Small Finance Bank FD

    Jana Small Finance Bank fixed deposit is a popular investment option due to a number of benefits it provides to the FD investors. Some of these are mentioned below:

    • Guaranteed returns: The best thing about Jana Small Finance Bank FD is that it offers guaranteed and assured returns to the investors. The return offered on a fixed deposits is regulated by the Bank on a monthly, or quarterly basis, as per the Bank’s choice. Currently, Jana Small Finance Bank offers FD rates up to 6.75%. The interest rates offered on Jana Small Finance Bank FD is not only assured but also way higher than a savings account.
    • Insured by the Government: The Deposit Insurance and Credit Guarantee Corporation offers deposit insurance of ₹ 5 Lakh to fixed deposits across all banks. Investing in a fixed deposits with the highest rating of AAA, rated by ICRA and CRISIL, is a reliable investment option.Thus, Jana Small Finance Bank term deposit is safe and secure, as the funds are backed by the government no matter what the current situation of the Bank is.
    • Loan against FD: The investment made in an FD scheme is not only a reliable investment option but can also act as an asset. This is because Jana Small Finance Bank fixed deposit allows one to borrow a secured loan against Jana Small Finance Bank FD. Benefits of Loan Against FD of Jana Small Finance Bank are as follow:
      • Loan against FD of Jana Small Finance Bank offers the loan amount upto 90%-95% of the FD amount.
      • The interest charged on the loan against FDs are generally low and are 2% to 3% higher than the FD interest rate.
      • Loan against FD of the Jana Small Finance Banks flexible repayment options.
      • The processing fee of Loan Against FD in the Jana Small Finance Bank is nil.
      • It is a hassle-free loan and does not require the depositor to break the FD.
    • Flexible tenures: Jana Small Finance Bank FD offers the investors the flexibility to choose the investment tenure as per their convenience. Jana Small Finance Bank offers fixed deposit for a minimum tenure of 7 days up to a maximum tenure of 10 years . Jana Small Finance Bank offers different interest rates across FD tenures.
    • Flexible investment: Apart from the flexibility of tenure, Jana Small Finance Bank fixed deposit offers the flexibility of funds to FD investors as funds can be invested with a minimum amount of Rs. 1000. Apart from that, one can invest in the Jana Small Finance Bank FD up to a maximum of No limit.

    Premature Withdrawal Terms and Conditions

    Though a fixed deposit with Jana Small Finance Bank means depositing funds for a fixed period of time in expectation of a regular return. However, keeping in view the instability in the markets, the Bank allows premature withdrawals of funds from a fixed deposit. This means that investors can withdraw their funds before the date of maturity to fulfil their urgent financial conditions.

    Withdrawing funds prematurely from Jana Small Finance Bank will attract an interest rate lowered by Allowed below the effective rate on the date of booking the FD. The penalty charged on fixed deposits is valid only on fixed deposits with a tenure greater than seven days. In case of premature withdrawal of Jana Small Finance Bank fixed deposits with tenure less than seven days, the bank does not pay any interest.

    Eligibility Criteria for Jana Small Finance Bank FD

    Jana Small Finance Bank FD facility can be availed by the following type of investors:

    • Indian Citizens
    • Members of HUFs or the Hindu Undivided Family
    • Business firms
    • Local governing bodies
    • Government departments
    • Employees of private limited companies
    • Trust accounts

    Documents for Jana Small Finance Bank FD

    Jana Small Finance Bank fixed deposit requires one to submit the following documents:

    • Passport size photographs
    • Identity proofs such as Aadhar card, passport, PAN card, and driving license.
    • Address proofs such as passport, ration card, utility bills such as water, gas or electricity bill.
    • Age proof such as birth certificate, matriculation passing certificate, and Voter ID card.
    • Bank account details such as passbook and account number.

    Credit Card Against Jana Small Finance Bank FD

    Credit Cards againstJana Small Finance Bank FD are secured credit cards. They are availed against the amount deposited in the term deposits. They are an ideal option for individuals with low CIBIL score and salary. Below mentioned are the important features of Credit Cards against Jana Small Finance Bank FD:

    • The limit offered on the credit card depends upon the amount deposited in the fixed deposits. Generally, banks offer around 80% of the deposit amount as the total credit limit on the card.
    • Credit Cards against the fixed deposits require minimum documentation.
    • The minimum tenure of the term deposits should be 6 months to avail credit card against it.
    • Secured Credit cards also offer discounts, cashback and rewards.
    • The cardholder continues to earn the same applicable interest rate on FD.

    FAQs

    What is the loan against FD repayment tenure in Jana Small Finance Bank?

    Loan against FD is the  facility which allows the investor to avail the loan against the amount deposited in the term deposit. Jana Small Finance Bank offers the loan against FD facility to the FD investors with a repayment tenure of up to 10 years .

    What is the minimum investment for FDs under Jana Small Finance Bank?

    Jana Small Finance Bank Fixed Deposit is one of the safest investment avenues and it can be availed with a minimum deposit of Rs. 1000.

    What is the minimum amount for a fixed deposit in Jana Small Finance Bank?

    The minimum amount required for a fixed deposit investment in Jana Small Finance Bank fixed deposit is Rs. 1000.

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

    Currently, Jana Small Finance Bank offers an interest rate ranging between 2.50% to 6.75% on its fixed deposits.

    What is the penalty for early withdrawal in Jana Small Finance Bank?

    Bank charges penalty on premature withdrawal of fixed deposits. The penalty for early withdrawal ranges between 0.5% to 1% in most cases, based on the loan amount and tenure.

    What is the minimum FD tenure for which a fixed Deposit account can be opened in Jana Small Finance Bank?

    Jana Small Finance Bank fixed deposit can be opened with a minimum tenure of 7 days . The tenure of the Jana Small Finance Bank fixed deposits ranges from 7 days to 10 years .

    Can I deposit additional amount in my Jana Small Finance Bank 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 KYC documents and Passport size photos.

    In how many years FD doubled in the Jana Small Finance Bank?

    The time Jana Small Finance Bank fixed deposits will take to double the initial amount will depend upon the rate of interest offered on the FD. You can calculate the maturity amount of the Jana Small Finance Bank FD at MyLoanCare by entering the amount you want to deposit and the interest offered on FD.

    Can an NRI open a Jana Small Finance Bank fixed deposit account?

    No, Non-Resident Individuals are not allowed to invest in Jana Small Finance Bank schemes. It means that they are not eligible to invest in fixed deposits.

    Is the Jana Small Finance Bank safe for FD?

    Yes, the Jana Small Finance Bank is one of the safest avenues for any investments. Jana Small Finance Bank is backed by the Government of India and the returns on any investment including fixed deposits are guaranteed.

    Is it wise to take a loan against FD from the Jana Small Finance Bank?

    Yes, opting for a Loan Against FD is an excellent decision. The reasons to take loan from Jana Small Finance Bank are:

    • It offers the loan upto 90%-95% of the FD amount.
    • The interest levied on the loan against FDs are generally low and are 2% to 3% higher than the FD interest rate.
    • Loan against FD offers flexible repayment options.
    • The processing fee of Loan Against FD is Nil.
    • It is a hassle-free loan and requires minimum documentation.
    • Loan against FD helps the depositors to avoid the option of premature withdrawal.

    However, there might be a chance that the alternative credit option is offering lower rates with better facilities. In that case, individuals must compare and decide on the credit option.


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    Jana Finance Bank News - Jul 2021
    • 2021-05-12 : Revised FD rates for Jana Small Finance Bank
      Jana Small Finance Bank changed its FD rates with effect from May 3, 2021. The FD rates for 7 to 14 days is 2.50%, for 15 to 60 days it is 3%. The fixed deposit rate for a tenor of 61 to 90 days is 3.75%, for 91 to 180 days it is 4.50%, and it is 5.50% for 181 to 364 days. Further, FD rates for 365 days is 6.25%, fixed deposit rate for 1 year one day to 3 years is 6.50 %, and it is 6.75% for 3 years 1 day to 4 years 364 days. . The FD rates for 5 years is 6%, and for a tenor of 5 years and 1 day to 10 years the fixed deposit rate is 6.50%.
    • 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, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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