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Jana Small Finance Bank Fixed Deposit

PrivateNA DICGC, with an interest rate of 7.25% for 3 years. Here are the Jana Small Finance Bank FD Interest Rates for 2024:

Tenure Normal Citizen FD Rate Senior Citizen FD Rate

7 days - 14 days 3% 3.5%

15 days - 1 month 29 days 4.25% 4.75%

2 months - 2 months 29 days 5% 5.5%

2 months 30 days - 5 months 27 days 6.5% 7%

5 months 28 days - 11 months 27 days 8% 8.5%

1 year - 1 year 8.5% 9%

1 year 1 day - 2 years 8.25% 8.75%

2 years 1 day - 4 years 11 months 27 days 7.25% 7.75%

5 years - 9 years 11 months 26 days 6.5% 7%

Please note that all interest rates shown above are as of March 6, 2024.

About Jana Small Finance Bank FD:

Jana Small Finance Bank (formerly known as Janalakshmi Financial Services Limited) started as a non-banking finance company (NBFC) on March 4, 2008, and later became a non-banking finance company-microfinance institution (NBFCMFI). On April 28, 2017, it received a license to establish a small finance bank and began banking operations on March 28, 2018. As of September 30, 2020, Jana Holdings Limited (JHL), a non-banking finance company-non-operative financial holding company (NBFCNOFHC), holds a 42.1% stake in JSFB. Jana Holdings Limited (JHL) was incorporated on March 10, 2016, and is a non-banking finance company – non-operative financial holding company (NBFC-NOFHC). JSFB has a presence in 22 states and union territories across India.

FD Rates: 3% - 8.5%

FD Rate for Seniors: 3.5% - 9%

Minimum Deposit: ₹ 1000

Maximum Deposit: ₹ 2 Crores

Lock-in: -

FD Tenure: -

Loan against FD: NA

CRISIL Rating: PrivateNA

Fixed Deposits:

Jana Small Finance Bank offers flexible tenure and partial withdrawal facility for fixed deposits, without the need to open a savings account.

Jana Small Finance Bank FD Returns Based on Investment Amount:

Investment Amount For 3 years with interest of 7.25% For 5 years with interest of 7.25%

₹ 50,000 ₹ 62,108 ₹ 71,768

₹ 1 lakh ₹ 1,24,215 ₹ 1,43,535

₹ 2 lakh ₹ 2,48,430 ₹ 2,87,070

₹ 5 lakh ₹ 6,21,076 ₹ 7,17,675

₹ 10 lakh ₹ 12,42,152 ₹ 14,35,351

Compare Jana Small Finance Bank Fixed Deposit Returns with Top Banks. Use the FD calculator to change values and compare returns from top banks.

Jana Small Finance Bank vs. Utkal Grameen Bank FD: Pre Tax Post Tax

Maturity Amount: ₹ 1,08,839 ₹ 1,06,697

Total Investment Amount: ₹ 1,00,000 ₹ 1,00,000

Total Interest Gained: ₹ 8,839 ₹ 6,697

Compare Jana Small Finance Bank Fixed Deposit Rates with Top Banks:

Bank Name FD Interest Rates

Utkal Grameen Bank FD 6.5% - 7%

Punjab and Sind Bank FD 6% - 6.5%

Saptagiri Grameena Bank FD 7.5% - 8%

Dakshin Bihar Gramin Bank FD 5.6% - 5.6%

Karnataka Gramin Bank FD 6.85% - 7.35%

Kerala Gramin Bank FD 6.75% - 7.25%

Baroda Gujarat Gramin Bank FD 6.75% - 7.25%

Yes Bank FD 7.3% - 8%

Union Bank of India FD 6.5% - 7%

Dhanlaxmi Bank FD 6.5% - 7%

Calculate Jana Small Finance Bank FD Returns:

Investment Amount: ₹ 1,00,000

Investment Period: 1 year, 2 years, 3 years, 4 years, 5 years, 6 years, 7 years, 8 years, 9 years, 10 years

Interest Rate: 8.5

Compounding Period: Monthly, Quaterly, Half Yearly, Yearly

Senior Citizen: No, Yes

Total Investment: ₹ 1,00,000

Wealth Gained: ₹ 8,839

Maturity Amount: ₹ 1,08,839

Jana Small Finance Bank is a scheduled commercial bank established in 2008 in Bengaluru. We offer a variety of deposits that ensure our investors' earnings grow effortlessly. Our bank provides high-interest rates on FDs and offers facilities such as premature withdrawal and overdraft facility. In this article, I will provide detailed information about Jana Small Finance Bank FD rates.

Key Features of Jana Small Finance Bank Fixed Deposit:

- Tenure: Our fixed deposits range from 7 days to 10 years. Once the tenure commences, it cannot be changed, but investors can choose to withdraw their investment prematurely and reinvest in a fresh FD with the desired tenure.

- Minimum and Maximum Deposit Amount: The minimum and maximum deposit amounts depend on the type of FD chosen.

- Regular Fixed Deposit: Minimum investment of INR 1000, maximum of INR 2 crore.

- FD Plus: Minimum investment of INR 15,00,001, no maximum limit.

- Deposits of INR 2 crore and above: Minimum investment of INR 2 crore, no maximum limit.

- Tax saver FD: Minimum investment of INR 100, maximum investment of INR 1,50,000 per annum.

Jana Small Finance Bank FD Interest Rate:

Our FD interest rates range from 3% to 7.5%. You can use our FD calculator to calculate the returns from your Jana Bank FD.

Preferential Interest Rates:

We offer preferential interest rates for senior citizen depositors, providing an additional 0.5% on their fixed deposits. The interest rates range from 3.5% to 8% for senior citizens.

Eligibility:

To open an FD account with Jana Bank, individuals, proprietorship, partnerships, private limited companies, HUFs, cooperative societies, trusts, registered and unregistered bodies, and NGOs are eligible. Only individuals and HUFs can invest in tax saver FDs.

Documents required:

Investors must submit a recent photograph, PAN Card or Form 60, Aadhaar Card, other officially valid documents like passport, voters ID, driving license, job card issued by NREGA, and a letter issued by the National population Register.

Additional Payments:

Additional amounts cannot be deposited into an existing Jana Small Finance Bank fixed deposit. However, investors can invest in a fresh FD with an additional amount.

Tax and TDS:

Investment in Jana Bank Tax Saver Fixed Deposit qualifies for tax deduction under Section 80C of the Income Tax Act. The interest income earned from Jana Bank FDs is taxable as per the individual's income tax slab rates. TDS is charged if the interest income exceeds INR 40,000 (INR 50,000 for senior citizens), with a TDS rate of 10%. If the investor does not submit PAN details, the TDS rate is 20%.

Safety:

Under the Deposit Insurance Scheme of RBI, DICGC insures all Jana Small Finance bank deposits up to INR 5,00,000.

Premature withdrawal:

Jana Bank allows premature withdrawal on regular FDs with a penalty of 0.5% for deposits below INR 2 crore and 1% for deposits above INR 2 crore. Premature withdrawal is not available for FD Plus and tax saver FDs.

Nomination Facility:

Depositors can nominate beneficiaries for their Jana Small Finance Bank FDs.

Auto-Renewal:

Jana Small Finance Bank offers an auto-renewal facility for the deposits.

Convenience:

Opening and managing Jana Small Finance Bank FD investments is easy and convenient through our online portal.

Loan against fixed deposit and Overdraft:

Jana Bank allows loans against fixed deposits but does not provide an overdraft facility against tax-saving deposits. Investors can use our loan EMI calculator to calculate their loan EMI.

Pan Card:

A PAN card is not required to open a Jana Bank FD account. However, there are implications if a PAN is not provided, such as a higher TDS rate of 20%.

Requirement of savings account:

Individuals require a Jana Bank savings account to invest in our FDs.

Types of Fixed Deposit Schemes offered by Jana Small Finance Bank:

1. Regular Fixed Deposit: Offers attractive interest rates and multiple interest payout options.

2. Fixed Deposit Plus: Provides a higher deposit rate than regular term deposits.

3. Deposit of 2 crores and above: Designed for HNIs, corporates, and government institutions to park surplus funds.

4. Tax Saver Fixed Deposit: Qualifies for tax deduction under Section 80C and has a tenure of 5 years.

Jana Small Finance Bank also offers recurring deposit schemes. Depositors can invest a fixed sum on a monthly basis for a specific tenure, building wealth securely through regular monthly deposits.

Investments can be made in recurring deposits online through internet and mobile banking or by visiting the nearest bank branch.

In conclusion, Jana Small Finance Bank provides a range of fixed deposit options with competitive interest rates and customer-friendly features. We strive to make banking convenient and efficient for our customers.