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Jana Finance Bank Savings Account Interest Rates

Jana Finance Bank Savings Account Interest 2022

Last Updated 17th Dec 2021

Saving Account Interest Rate
Regular Saving Account 3.50% - 7.25%
Savings Plus Account 3.50% - 7.25%
BSBDA 4.50% - 7.25%
Salary account 4.50% - 7.25%
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Jana Finance Bank Bank Savings Accounts Interest Rate

Jana Small Finance Bank offers an interest rate ranging upto 7.25% on the minimum average balance maintained in the savings account. It calculates the interest rate on savings bank accounts on a daily basis. However, the interest is paid to the account holders every quarter. With Jana Small Finance Bank Savings Account youth and minors can get additional benefits on their Savings Account. Jana Small Finance Bank also offers attractive benefits like mobile and internet banking services, free Debit Card and customised savings account depending on different customer profiles.

Features and Benefits

Jana Small Finance Bank Savings Account helps you to save money by providing interest on your idle money deposited in the savings accounts. The rate of interest on Jana Small Finance Bank Savings Account varies as per the Savings Account product. Some of the key features and benefits of Jana Small Finance Bank savings account are:

  • It offers interest rates upto 7.25% p.a. You can easily access Jana Small Finance Bank Savings Account anywhere through a large network of branches and ATMs .
  • If you want to transfer funds from Jana Small Finance Bank Savings account to any other bank account, you can do it through modes such as RTGS , IMPS, NEFT and UPI facilities.
  • To maintain an Jana Small Finance Bank Savings account, you require a minimum balance of Rs. 2,500.
  • Jana Small Finance Bank personalized account number and cheque book enhances security and ensures your money is safe.
  • You can get SMS Alerts and e-statement facilities with Jana Small Finance Bank Savings Account.
  • With the Auto Sweep Facility of Jana Small Finance Bank, your account can be linked to a Multi Option Deposit MOD account.

Jana Finance Bank Savings Account Rates

Saving Account Interest Rate Minimum Balance
Regular Saving Account 3.50% - 7.25% Rs. 2,500
Savings Plus Account 3.50% - 7.25% Rs. 5,000
BSBDA 4.50% - 7.25% NIL
Salary account 4.50% - 7.25% N.A

Eligibility & Documentation Required for Opening Savings Account in Jana Small Finance Bank

To open a savings account in Jana Small Finance Bank, you need to fulfill the following eligibility criteria:

  • You need to have valid KYC Documents.
  • You can open a savings account singly or jointly.

Documents Required

You can open a savings account with prescribed application form and minimum KYC documents, which are mentioned below:

  • Application Form with attested photographs
  • Proof of identity- Passport, Voter ID card, PAN Card, Govt./Defence ID card, Driving Licence etc.
  • Proof of current address- Credit Card Statement, Salary slip, Electricity Bill/Telephone Bill, ration card etc.

How is Jana Small Finance Bank Savings Account Interest Rate Calculated?

As per the RBI mandate, Jana Small Finance Bank calculates saving account rate on average balances in the account on a daily basis. The interest can however be paid monthly, annually or quarterly. The following formula is used by Jana Small Finance Bank to calculate interest on Savings Bank Account on the basis of daily balance in the account

Interest = Amount (Daily balance)*(No of days)* Interest/Days in the year.

Compare Savings Account Interest Rates of All Banks

Jana Finance Bank Savings Account Products

  • Regular Saving Account : Jana Small Finance Bank offers interest rates ranging between 3.50% to 7.25% on Regular Saving Account.You can open a Regular Saving Account in Jana Small Finance Bank by depositing Rs. 2,500 amount as minimum balance.
  • Savings Plus Account : If you have deposited your excess funds in a Savings Plus Account, you can get interest at 3.50% to 7.25% on your account. This account can be opened by anyone with a minimum age of 18 Years.
  • BSBDA : Jana Small Finance Bank provides interest rates ranging between 4.50% to 7.25% on BSBDA. The minimum balance requirement to open this account is NIL.
  • Salary account : You can get interest at 4.50% and 7.25% respectively on Salary account in Jana Small Finance Bank. The account can be opened in Jana Small Finance Bank by depositing amount.

FAQs

How much interest is charged by Jana Small Finance Bank on Savings Account?

As per the current rates, Jana Small Finance Bank offers maximum interest rate of 7.25% on Savings Account. Jana Small Finance Bank provides this interest on the minimum balance maintenance of Rs. 2,500. The interest rate may however vary across the Jana Small Finance Bank savings account product.

What is the minimum amount required for opening Savings Account in Jana Small Finance Bank?

The minimum amount required for opening a Savings Account in Jana Small Finance Bank is Rs. 2,500.

What are the balance non - maintenance Charges on Jana Small Finance Bank Savings Account?

The Balance Non Maintenance Charges on Savings Account by Jana Small Finance Bank are If the balance is below 100% of AMB then Rs. 10 , if the balance is below 50% of AMB then Rs. 20..The minimum balance requirement in Jana Small Finance Bank savings account is Rs. 2,500.

What are the Jana Small Finance Bank ATM Transaction charges on Savings Account?

Jana Small Finance Bankcharges ATM Transaction on Savings Account are Nil.This charge may further depend upon the savings account product of Jana Small Finance Bank and the debit card types offered with the bank.

How does Jana Small Finance Bank calculate interest charged on Savings Account?

Interest on Savings Account is calculated on Quarterly basis. The following formula is used by Jana Small Finance Bank to calculate interest on Savings Account.

Monthly interest=Amount (Daily balance)*(No of days)* Interest/Days in the year

Does Jana Small Finance Bank offer Debit Card to the account holder?

Yes, Jana Small Finance Bank offer Debit Cards to the account holders differing according to the product. Some of the popular savings account products of Jana Small Finance Bank with the type of Debit Card offered are listed in the table below.

Regular Saving AccountRuPay Platinum
Savings Plus AccountRuPay Platinum
BSBDARuPay Platinum

What is the withdrawal limit of the account?

You can withdraw money from your savings account for a maximum 25,000 per day times in a month. Withdrawals over and above this limit may impose charges and may lead to deductions from your savings account.The withdrawal limit offered in Jana Small Finance Bank is 25,000 per day

What is the eligibility criteria to open a savings account in Jana Small Finance Bank?

To open a savings account in Jana Small Finance Bank you need to fulfill the following eligibility criteria:

  • Indian residents of 18 years and above can apply for this savings account jointly or individually.
  • You must have your basic KYC done

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Jana Finance Bank News - Jan 2022
  • 2021-04-08 : Jana Small Finance Bank joined hands with Axis Securities to offer 3 in 1 account
    Jana Small Finance integrated with Axis Securities to offer investment services. The bank has launched a three in one account. The three in one account integrates the savings account by Jana Small finance and trading and the Demat account by Axis Securities.
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