Jana Small Finance Bank FD Interest Rates

Let us learn about the FD rates and various benefits of Jana Small Finance Bank (Jana SFB).

Jana Small Finance Bank FD Rates 2023

The Jana Small Finance Bank interest rates for regular and senior citizens on Domestic/ NRO/ NRE deposits (withdrawable) below Rs. 2 crores are as follows:

*For interest rates on a fixed deposit value of above Rs.2 Crore, the customers need to contact their respective branch to open their Fixed Deposit (FD) account.
** The minimum tenure for NRE Deposits of up to Rs. 2 crores is 1 year.
***Additional 0.50% p.a. interest rate is available only for resident senior citizens.

Jana Small Finance Bank FD Rates for FD Plus

The Jana Small Finance Bank interest rates of the FD Plus Scheme for various ranges of deposits (Non- withdrawable) are as follows:

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What are Jana Small Finance Bank FD Rates?

Jana Small Finance, Bank FD rates are offered by the bank on fixed deposits for different durations.

Details of Jana Small Finance Bank interest rates:

• Competitive interest rates: Jana Small Finance Bank offers attractive interest rates on FDs, which are as high as 8.50% p.a. for general citizens and 9.00% for senior citizens.

• Flexible tenures: You can choose from various tenures for your FD, from 7 days to 10 years.

• Easy to open: You can open an FD account online or at any Jana Small Finance Bank branch.

• Secure investment: Your FD is insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC) up to a maximum of Rs. 5 lakhs.

What are the Types of the Jana Small Finance Bank FD?

Jana Small Finance Bank offers various types of Fixed Deposit (FD) schemes to cater to the diverse needs of customers. 

1. Regular Fixed Deposit (Regular FD)

   The key features of the Jana SFB Regular Fixed Deposit Scheme are as follows:

   • High-Interest Rates: The interest rate on Jana Small Finance Bank Regular FD interest rates are as high as 8.50% p.a. for the general public and 9.00% p.a. for senior citizens

   • Interest Compounding: The interest is compounded annually.

   • Tenure: The tenure ranges from 7 days to 10 years.

   • Fixed Deposit Amount: Rs. 1000 – No Limit

   • Premature Withdrawal: Premature withdrawal is allowed with payment of a small penalty.

   • Taxation: The interest earned on Jana Small Finance Bank Regular FDs is taxable as per the Income Tax Act, 1961.

2. Tax Saver Fixed Deposit (Tax-Saver FD)

   Jana Small Finance Bank Tax Saver Fixed Deposit Schemes offers the following features to its customers:

   • Interest Rate: The interest rate is 6% p.a. for the general public and 6.50% p.a. for senior citizens.

   • Tenure: The tenure of these FDs is 5 years.

   • Tax Saver Fixed Deposit Limit: Rs. 1000 – Rs. 1.5 lakhs

   • Premature Withdrawal: Premature withdrawal from a Jana Small Finance Bank Tax Saver FD is not allowed.

   • Taxation: The interest earned on Jana Small Finance Bank Tax Saver Fixed Deposits is exempt from tax under Section 80C of the Income Tax Act, 1961.

3. FD Plus/ FD with No Premature Withdrawal

   Let us have a look at the main features of the Jana Small Finance Bank FD Plus Scheme from the list mentioned below:

   • Interest:The interest rate on Jana Small Finance Bank FD Plus ranges from 3.85% to 8.60% p.a. for the general public and 7% to 9% p.a. for senior citizens. The interest is compounded annually.

   • Tenure: The tenure of Jana Small Finance Bank FD Plus ranges from 7 days to 10 years.

   • Fixed Deposit Amount: Rs. 15,00,001 – No Limit

   • No Premature Withdrawal: Premature withdrawal of a Jana Small Finance Bank FD Plus is not allowed.

   • Taxation:The interest earned on Jana Small Finance Bank FD Plus is taxable as per the Income Tax Act, 1961.

Jana Small Finance Bank FD Rates Calculator

Jana Small Finance Bank interest rates calculator is an easy-to-use, hassle-free tool that helps in the quick calculation of the maturity amount and the interest earned receivable at the end of the policy tenure. 

By entering the following basic details, you can calculate the correct FD amount using an FD Calculator:

• Deposit Amount

• Rate of Interest (for the selected tenure)

• Tenure of the FD Account

• Compounding Period (i.e. yearly, half-yearly, quarterly, or monthly)

Once you enter these details, the FD calculator will automatically display the following data:

• Maturity Amount

• Total Interest Earned

What are the Eligibility Criteria to Join the Jana Small Finance Bank FD Scheme?

The following new and existing customers are eligible to apply for the Jana Small Finance Bank FD Scheme:

• Individuals

• Minors

• Proprietorship

•  Hindu Undivided Family (HUF)

• Registered and Unregistered Bodies

• Cooperative Societies

• Trusts

• Partnerships

• Non-Government Organisations (NGOs)

• Private Limited Organisations

What are the Documents Required for Jana Small Finance Bank FD Scheme?

The essential documents required for Jana Small Finance Bank FD Scheme are listed in the table mentioned below:

How to Apply for Jana Small Finance Bank FD Scheme?

You can follow the methods mentioned below to join the Jana Small Finance Bank Fixed Deposit Scheme:

1. Method I –

   To apply for Jana Small Finance Bank services, visit your nearest branch, and the Relationship Manager of Jana Small Finance Bank will assist you with the application process.

2. Method II –

   Alternatively, you can contact their Customer Care Executive via phone, who will schedule a service appointment with the Relationship Manager to guide you through the application process.

Things to Know Before Investing in Jana Small Finance Bank FD 

A few things about FD rates that one must know about are:

• No Premature Withdrawal Option: When opening an FD account, one can also select the "No Premature Withdrawal" facility.

• Penalty Charges on Premature Withdrawal: If you withdraw the FD amount prematurely, you will get an applicable interest rate for the period until the deposit is kept minus the premature withdrawal penalty rate.

The penalty rates are as follows:

• Fixed Deposits < Rs.200 lakhs: 0.5 %

• Fixed Deposits of Rs 200 lakhs & Above 1 %

• Non-Cumulative Fixed Deposits: The rate of interest for non-cumulative FDs is calculated as per the simple interest. 

• Interest Payouts: The interest payouts are as per the financial year. 

The different payout options that follow accordingly are calculated as follows:

• Monthly Interest Payouts- On the 1st of every month

• Quarterly Interest Payouts- On the 1st of every quarter.

• Half-yearly Interest Payouts- On 1 October and 1 April.

• Annual Interest Payouts- On 1 April, irrespective of the date of booking of the fixed deposit account.

• FD Interest Tenure Calculation: The Jana Small Finance Bank FD rate tenure deposit is calculated based on 365 days for a non-leap year and 366 days for a leap year for deposits less than Rs 2 Crore.

Summing it Up

Jana Small Finance Bank offers competitive interest rates on its various deposit schemes. These rates are subject to change and may vary based on the type of deposit and duration. By providing attractive interest rates, Jana Small Finance Bank aims to provide value to its customers and help them grow their savings.