Jana Small Finance Bank FD Rates
Jana Small Finance Bank FD Rates
Mar 20, 2024
15 Mins
Introduction:
Jana Small Finance Bank is offering a variety of fixed deposit schemes with competitive interest rates. These FDs have a tenure ranging from a minimum of 7 days to a maximum of 10 years. The rate of interest for different schemes starts at 3.00% for the general public and goes up to 8.50%, while for senior citizens, it starts at 3.50% and goes up to 9.00%. To open a Fixed Deposit with Jana Small Finance Bank, the minimum amount required is not specified.
Types of Jana Small Finance Bank Fixed Deposit Schemes
Jana Small Finance Bank offers different types of fixed deposit schemes to cater to the diverse needs of its customers. These schemes are as follows:
- Jana Small Finance Bank Domestic Term Deposits FD - Interest rates range from 3.00% to 8.50% for the general public, and from 3.50% to 9.00% for senior citizens.
Given below are the latest Jana Small Finance Bank Domestic Term Deposits FD rates for different tenures (ranging from 7 days to 10 years) as of August 2022:
Tenure | Interest Rates for Public (p.a.) | Interest Rates for Senior Citizens (p.a.)
7 Days up to 14 Days | 3.00% | 3.50%
15 Days up to 2 Months | 4.25% | 4.75%
2 Months 1 Day up to 3 Months | 5.00% | 5.50%
3 Months 1 Day up to 6 Months | 6.50% | 7.00%
6 Months 1 Day up to 12 Months 4 Days | 8.00% | 8.50%
1 Year up to 2 Years | 8.25% | 8.75%
2 Years up to 3 Years | 7.25% | 7.75%
3 Years up to 5 Years | 7.25% | 7.75%
5 Years up to 10 Years | 6.50% | 7.75%
Up to 1 Year | 8.50% | 9.00%
Up to 5 Years | 7.25% | 7.75%
JANA Small Finance Bank is a modern bank committed to providing accessible and convenient banking services to all customers. The bank believes in leveraging technology to simplify banking processes and ensure a secure banking experience.
Headquartered in Bengaluru, Karnataka, JANA Small Finance Bank was established in 2018 with a vision to become India's leading digitized bank. The bank operates based on the values of honesty, discipline, respect, and service.
JANA Small Finance Bank Fixed Deposits
A fixed deposit is a popular investment option in India's financial markets, offering a secure and long-term savings account. One of the main advantages of investing in a fixed deposit is that it provides higher interest rates compared to other investment options like equity and debt securities. However, unlike equities, fixed deposits do not allow investors to sell their shares whenever they want.
JANA Small Finance Bank's fixed deposits provide customers with a risk-free way to grow their savings over a specific period. The fixed deposits offered by the bank are competitive, and customers can choose from three types of fixed deposit options: Regular FD, FD Plus, and Tax Saver FD.
Types of Fixed Deposits offered by JANA Small Finance Bank
JANA Small Finance Bank offers a range of fixed deposit products to meet the diverse needs of its customers. The bank provides various fixed deposit products with different interest rates and terms, offering tenures ranging from 7 days to 10 years. Some of the JANA Small Finance Bank fixed deposits are as follows:
1. Regular FD:
- Minimum deposit: INR 1,000
- Interest rate: 6.00% p.a.
- Tenure: 7 days to 10 years
- Premature withdrawal charges applicable
2. FD Plus:
- Tenure: 7 days to 10 years
- Premature withdrawal not allowed
- Offers additional interest rate compared to Regular FD
3. Tax Saver FD:
- Minimum deposit: INR 100
- Maximum deposit: INR 1,50,000
- Lock-in period: 5 years
- Interest earned is tax-free up to INR 1.5 lakhs
4. NRE Fixed Deposits:
- Provides attractive interest rates for customers looking to save for specific goals like retirement
- Offers the security of the Government of India backing the deposits
5. NRO Fixed Deposits:
- Offers a great interest rate on deposits while providing flexible withdrawal options
- Ideal for customers looking for higher returns on their investment
JANA Small Finance Bank Fixed Deposit Eligibility Criteria
The eligibility criteria to apply for a JANA Small Finance Bank fixed deposit are as follows:
- Indian Resident Individuals
- New and existing customers of JANA Small Finance Bank
- Individuals, Minors, Proprietorship, HUF (Hindu Undivided Family), Registered and Unregistered Body, Cooperative Society, Trusts, Partnerships, NGO, and Private Limited Companies
- Non-Resident Indians (NRIs)
Features and Benefits of JANA Small Finance Bank Fixed Deposit
JANA Small Finance Bank's Fixed Deposit account offers customers several features and benefits, including:
- Competitive interest rates for faster savings growth
- a wide range of deposit terms to suit individual financial needs
- Mobile banking application for easy management of FDs
- Multiple interest payout options available (Cumulative and Non-Cumulative)
- Minimum deposit amount: INR 1,000
- No maximum deposit amount limit specified
- Minimum duration: 7 days
- Maximum duration: 10 years
- Premature withdrawal allowed with applicable penal charges
Interest Calculation on JANA Small Finance Bank Fixed Deposit
The interest rate for JANA Small Finance Bank fixed deposits is reviewed every quarter and is determined based on the prime lending rates. The bank recalculates the interest every quarter, which may change to align with market conditions. Interest earned on fixed deposits is calculated based on the number of days in a year (365 days for a non-leap year and 366 days for a leap year).
Taxation Policy on JANA Small Finance Bank Fixed Deposit
While fixed deposits offer tax benefits under Section 80C of the Income Tax Act, it's important to note that the interest income earned on fixed deposits is taxable. JANA Small Finance Bank deducts applicable TDS (Tax Deducted at Source) at a rate of 10% if the interest amount exceeds Rs. 10,000 per individual per branch.
Minimum and Maximum Investment on JANA Small Finance Bank Fixed Deposit
The minimum and maximum amounts for opening a JANA Small Finance Bank fixed deposit are as follows:
- Regular FD: Minimum investment of INR 1,000
- FD Plus: Minimum investment of INR 15,00,001
- Tax Saver FD: Minimum investment of INR 100, maximum investment of INR 1,50,000
- NRE/NRO FD: Minimum investment of INR 10,000
How to Open a JANA Small Finance Bank FD Account?
To open a JANA Small Finance Bank fixed deposit account, you need to visit the nearest branch with your KYC documents. The required documents must be submitted along with a completed application form and the desired deposit amount. Your FD account will be opened immediately, and a passbook will be issued to you.
Alternatively, you can also book an appointment online to seek guidance from a relationship manager during the application process.
JANA Small Finance Bank FD Interest Rates 2022
The table below displays the JANA Small Finance Bank FD Interest Rates for 2022:
Tenure | Regular FD Rates (p.a.) | Senior Citizen FD Rates (p.a.)
7 days - 14 days | 2.50% | 3.30%
15 days - 60 days | 3.00% | 3.80%
61 days - 90 days | 3.75% | 4.55%
91 days - 180 days | 4.50% | 5.30%
181 days - 364 days | 5.50% | 6.30%
1 year | 7.00% | 7.80%
1 year - 2 years | 7.25% | 8.05%
2 years - 3 years | 7.25% | 8.05%
3 years - 5 years | 7.35% | 8.15%
5 years | 7.25% | 8.05%
5 years - 10 years | 6.00% | 6.80%
FD Plus Interest Rates:
Tenure | Less Than INR 2 crores (p.a.) | Greater Than INR 2 crores (p.a.)
7 days - 14 days | 2.50% | 2.50%
15 days - 60 days | 2.50% | 2.50%
61 days - 90 days | 2.50% | 2.50%
91 days - 180 days | 2.50% | 2.50%
181 days - 364 days | 5.60% | 5.60%
1 year | 7.20% | 7.20%
1 year - 2 years | 7.75% | 7.75%
2 years - 3 years | 7.45% | 7.45%
3 years - 5 years | 7.50% | 7.50%
5 years | 7.35% | 7.35%
5 years - 10 years | 6.10% | 6.10%
NRE/NRO Fixed Deposit Interest Rates:
Tenure | NRE (p.a.) | NRO (p.a.)
7 days - 14 days | N/A | 2.50%
15 days - 60 days | N/A | 3.00%
61 days - 90 days | N/A | 3.75%
91 days - 180 days | N/A | 4.50%
181 days - 364 days | N/A | 5.50%
1 year | 7.00% | 7.00%
1 year - 2 years | 7.25% | 7.25%
2 years - 3 years | 7.50% | 7.25%
3 years - 5 years | 7.35% | 7.35%
5 years | 7.25% | 7.25%
5 years - 10 years | 6.00% | 6.00%
Comparison between JANA Small Finance Bank FD Returns with Top Banks
The table below compares the interest rates offered by JANA Small Finance Bank with those of other top banks:
Bank Name | Regular FD Rates (p.a.) | Senior Citizen FD Rates (p.a.)
JANA Small Finance Bank | 2.50% - 7.25% | 3.30% - 8.15%
SBI | 2.90% - 5.65% | 3.40% - 6.45%
HDFC Bank | 2.75% - 6.10% | 3.25% - 6.20%
Punjab National Bank | 3.00% - 6.10% | 3.50% - 6.60%
Axis Bank | 2.50% - 6.05% | 2.50% - 6.80%
Bank of Baroda | 3.00% - 5.50% | 3.50% - 6.50%
IDFC First | 3.50% - 6.90% | 4.00% - 7.40%
Introduction:
Jana Small Finance Bank is offering a variety of fixed deposit schemes with competitive interest rates. These FDs have a tenure ranging from a minimum of 7 days to a maximum of 10 years. The rate of interest for different schemes starts at 3.00% for the general public and goes up to 8.50%, while for senior citizens, it starts at 3.50% and goes up to 9.00%. To open a Fixed Deposit with Jana Small Finance Bank, the minimum amount required is not specified.
Types of Jana Small Finance Bank Fixed Deposit Schemes
Jana Small Finance Bank offers different types of fixed deposit schemes to cater to the diverse needs of its customers. These schemes are as follows:
- Jana Small Finance Bank Domestic Term Deposits FD - Interest rates range from 3.00% to 8.50% for the general public, and from 3.50% to 9.00% for senior citizens.
Given below are the latest Jana Small Finance Bank Domestic Term Deposits FD rates for different tenures (ranging from 7 days to 10 years) as of August 2022:
Tenure | Interest Rates for Public (p.a.) | Interest Rates for Senior Citizens (p.a.)
7 Days up to 14 Days | 3.00% | 3.50%
15 Days up to 2 Months | 4.25% | 4.75%
2 Months 1 Day up to 3 Months | 5.00% | 5.50%
3 Months 1 Day up to 6 Months | 6.50% | 7.00%
6 Months 1 Day up to 12 Months 4 Days | 8.00% | 8.50%
1 Year up to 2 Years | 8.25% | 8.75%
2 Years up to 3 Years | 7.25% | 7.75%
3 Years up to 5 Years | 7.25% | 7.75%
5 Years up to 10 Years | 6.50% | 7.75%
Up to 1 Year | 8.50% | 9.00%
Up to 5 Years | 7.25% | 7.75%
JANA Small Finance Bank is a modern bank committed to providing accessible and convenient banking services to all customers. The bank believes in leveraging technology to simplify banking processes and ensure a secure banking experience.
Headquartered in Bengaluru, Karnataka, JANA Small Finance Bank was established in 2018 with a vision to become India's leading digitized bank. The bank operates based on the values of honesty, discipline, respect, and service.
JANA Small Finance Bank Fixed Deposits
A fixed deposit is a popular investment option in India's financial markets, offering a secure and long-term savings account. One of the main advantages of investing in a fixed deposit is that it provides higher interest rates compared to other investment options like equity and debt securities. However, unlike equities, fixed deposits do not allow investors to sell their shares whenever they want.
JANA Small Finance Bank's fixed deposits provide customers with a risk-free way to grow their savings over a specific period. The fixed deposits offered by the bank are competitive, and customers can choose from three types of fixed deposit options: Regular FD, FD Plus, and Tax Saver FD.
Types of Fixed Deposits offered by JANA Small Finance Bank
JANA Small Finance Bank offers a range of fixed deposit products to meet the diverse needs of its customers. The bank provides various fixed deposit products with different interest rates and terms, offering tenures ranging from 7 days to 10 years. Some of the JANA Small Finance Bank fixed deposits are as follows:
1. Regular FD:
- Minimum deposit: INR 1,000
- Interest rate: 6.00% p.a.
- Tenure: 7 days to 10 years
- Premature withdrawal charges applicable
2. FD Plus:
- Tenure: 7 days to 10 years
- Premature withdrawal not allowed
- Offers additional interest rate compared to Regular FD
3. Tax Saver FD:
- Minimum deposit: INR 100
- Maximum deposit: INR 1,50,000
- Lock-in period: 5 years
- Interest earned is tax-free up to INR 1.5 lakhs
4. NRE Fixed Deposits:
- Provides attractive interest rates for customers looking to save for specific goals like retirement
- Offers the security of the Government of India backing the deposits
5. NRO Fixed Deposits:
- Offers a great interest rate on deposits while providing flexible withdrawal options
- Ideal for customers looking for higher returns on their investment
JANA Small Finance Bank Fixed Deposit Eligibility Criteria
The eligibility criteria to apply for a JANA Small Finance Bank fixed deposit are as follows:
- Indian Resident Individuals
- New and existing customers of JANA Small Finance Bank
- Individuals, Minors, Proprietorship, HUF (Hindu Undivided Family), Registered and Unregistered Body, Cooperative Society, Trusts, Partnerships, NGO, and Private Limited Companies
- Non-Resident Indians (NRIs)
Features and Benefits of JANA Small Finance Bank Fixed Deposit
JANA Small Finance Bank's Fixed Deposit account offers customers several features and benefits, including:
- Competitive interest rates for faster savings growth
- a wide range of deposit terms to suit individual financial needs
- Mobile banking application for easy management of FDs
- Multiple interest payout options available (Cumulative and Non-Cumulative)
- Minimum deposit amount: INR 1,000
- No maximum deposit amount limit specified
- Minimum duration: 7 days
- Maximum duration: 10 years
- Premature withdrawal allowed with applicable penal charges
Interest Calculation on JANA Small Finance Bank Fixed Deposit
The interest rate for JANA Small Finance Bank fixed deposits is reviewed every quarter and is determined based on the prime lending rates. The bank recalculates the interest every quarter, which may change to align with market conditions. Interest earned on fixed deposits is calculated based on the number of days in a year (365 days for a non-leap year and 366 days for a leap year).
Taxation Policy on JANA Small Finance Bank Fixed Deposit
While fixed deposits offer tax benefits under Section 80C of the Income Tax Act, it's important to note that the interest income earned on fixed deposits is taxable. JANA Small Finance Bank deducts applicable TDS (Tax Deducted at Source) at a rate of 10% if the interest amount exceeds Rs. 10,000 per individual per branch.
Minimum and Maximum Investment on JANA Small Finance Bank Fixed Deposit
The minimum and maximum amounts for opening a JANA Small Finance Bank fixed deposit are as follows:
- Regular FD: Minimum investment of INR 1,000
- FD Plus: Minimum investment of INR 15,00,001
- Tax Saver FD: Minimum investment of INR 100, maximum investment of INR 1,50,000
- NRE/NRO FD: Minimum investment of INR 10,000
How to Open a JANA Small Finance Bank FD Account?
To open a JANA Small Finance Bank fixed deposit account, you need to visit the nearest branch with your KYC documents. The required documents must be submitted along with a completed application form and the desired deposit amount. Your FD account will be opened immediately, and a passbook will be issued to you.
Alternatively, you can also book an appointment online to seek guidance from a relationship manager during the application process.
JANA Small Finance Bank FD Interest Rates 2022
The table below displays the JANA Small Finance Bank FD Interest Rates for 2022:
Tenure | Regular FD Rates (p.a.) | Senior Citizen FD Rates (p.a.)
7 days - 14 days | 2.50% | 3.30%
15 days - 60 days | 3.00% | 3.80%
61 days - 90 days | 3.75% | 4.55%
91 days - 180 days | 4.50% | 5.30%
181 days - 364 days | 5.50% | 6.30%
1 year | 7.00% | 7.80%
1 year - 2 years | 7.25% | 8.05%
2 years - 3 years | 7.25% | 8.05%
3 years - 5 years | 7.35% | 8.15%
5 years | 7.25% | 8.05%
5 years - 10 years | 6.00% | 6.80%
FD Plus Interest Rates:
Tenure | Less Than INR 2 crores (p.a.) | Greater Than INR 2 crores (p.a.)
7 days - 14 days | 2.50% | 2.50%
15 days - 60 days | 2.50% | 2.50%
61 days - 90 days | 2.50% | 2.50%
91 days - 180 days | 2.50% | 2.50%
181 days - 364 days | 5.60% | 5.60%
1 year | 7.20% | 7.20%
1 year - 2 years | 7.75% | 7.75%
2 years - 3 years | 7.45% | 7.45%
3 years - 5 years | 7.50% | 7.50%
5 years | 7.35% | 7.35%
5 years - 10 years | 6.10% | 6.10%
NRE/NRO Fixed Deposit Interest Rates:
Tenure | NRE (p.a.) | NRO (p.a.)
7 days - 14 days | N/A | 2.50%
15 days - 60 days | N/A | 3.00%
61 days - 90 days | N/A | 3.75%
91 days - 180 days | N/A | 4.50%
181 days - 364 days | N/A | 5.50%
1 year | 7.00% | 7.00%
1 year - 2 years | 7.25% | 7.25%
2 years - 3 years | 7.50% | 7.25%
3 years - 5 years | 7.35% | 7.35%
5 years | 7.25% | 7.25%
5 years - 10 years | 6.00% | 6.00%
Comparison between JANA Small Finance Bank FD Returns with Top Banks
The table below compares the interest rates offered by JANA Small Finance Bank with those of other top banks:
Bank Name | Regular FD Rates (p.a.) | Senior Citizen FD Rates (p.a.)
JANA Small Finance Bank | 2.50% - 7.25% | 3.30% - 8.15%
SBI | 2.90% - 5.65% | 3.40% - 6.45%
HDFC Bank | 2.75% - 6.10% | 3.25% - 6.20%
Punjab National Bank | 3.00% - 6.10% | 3.50% - 6.60%
Axis Bank | 2.50% - 6.05% | 2.50% - 6.80%
Bank of Baroda | 3.00% - 5.50% | 3.50% - 6.50%
IDFC First | 3.50% - 6.90% | 4.00% - 7.40%
Author
Pluto Team
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