After receiving the license to conduct small finance bank business in India in 2017, Jana Small Finance Bank finally became operational in 2018. Since then, there has been no turning back as they have launched multiple financial products such as housing loan finance, two-wheeler finance, supply chain finance and fixed deposit schemes.
With over 700+ branches across the country, Jana Small Finance Bank is eyeing to expand and offer digital banking services to every individual.
Opening an FD account in Jana Small Finance Bank is considered a safe investment. Let’s take a look at the FD rates of Jana Small Finance Bank.
What Are the Jana Small Finance Bank Rates in 2023?
Jana Small Finance Bank is offering competitive FD rates to cater to the diverse needs of investors. These rates vary based on factors such as deposit amount, tenure, and whether you are a senior citizen or not.
The Jana Small Finance Bank FD Rates*, effective from 15th August 2023 for investments less than Rs. 2 crores, are given below.
Tenure | Jana Small Finance Bank FD Rates (Non-senior citizens) | Jana Small Finance Bank FD rates for senior citizens |
7 Days to 14 Days | 3.00% | 3.50% |
15 Days to 60 Days | 4.25% | 4.75% |
61 Days to 90 Days | 5.00% | 5.50% |
91 Days to 180 Days | 7.00% | 7.50% |
181 Days to 364 Days | 7.75% | 8.25% |
365 Days | 8.00% | 8.50% |
> 1 Year – 2 Year(730 Days) | 8.25% | 8.75% |
> 2 Years – 3 Years(1095 Days) | 8.50% | 9.00% |
> 3 Year – < 5 Years | 7.25% | 7.75% |
5 Years(1825 Days) | 7.25% | 7.75% |
> 5 Years – 10 Years | 6.50% | 7.00% |
*These rates are subject to change.
Jana Small Finance Bank FD Rates for Seniors and Non-Seniors (1-Year Tenure)
Jana Small Finance Bank offers senior citizens higher interest rates than what is offered to general citizens. As a perk, senior residents receive an additional 0.50% interest rate.
Here are the FD rates of Jana Small Finance Bank applicable to 1-year-tenure FDs:
Tenure | Jana Small Finance Bank FD rates for senior citizens | Jana Small Finance Bank FD rates for non senior citizens |
7 Days to 14 Days | 3.50% | 3.00% |
15 Days to 60 Days | 4.75% | 4.25% |
61 Days to 90 Days | 5.50% | 5.00% |
91 Days to 180 Days | 7.50% | 7.00% |
181 Days to 364 Days | 8.25% | 7.75% |
365 Days | 8.50% | 8.00% |
*The FD interest rate of Jana Small Finance Bank is subject to change. It is to be noted that the rates are applicable to deposits of less than Rs. 2 crores.
Jana Small Finance Bank FD Rates for Seniors and Non-seniors (2-Year Tenure)
For senior citizens who want to invest in an FD for a period of 2 years, the interest rate offered is slightly different from what is offered with FDs having a 1-year tenure. Jana Small Finance Bank FD interest rate offered to both seniors and general citizens for a 2-year tenure is as follows:
Tenure | Jana Small Finance Bank FD rates for senior citizens | Jana Small Finance Bank FD rates for non-senior citizens |
> 1 Year – 2 Year(730 Days) | 8.75% | 8.25% |
*The FD interest rate of Jana Small Finance Bank is subject to change. It is to be noted that the rates are applicable to deposits of less than Rs. 2 crores.
Reasons to Opt for Jana Small Finance Bank FD
In addition to availing higher FD interest rates in Jana Small Finance Bank, there are several other reasons to open a Fixed deposit in this bank.
● Higher Rate of Interest
Jana Small Finance Bank FD interest rates can go as high as 9.0% for senior citizens and 8.5% for general residential Indians. Jana Small Finance Bank’s FD interest rates make it an excellent alternative for both senior folks and investors looking to open a Fixed Deposit account. It offers a much higher interest rate than a traditional savings account.
● Low Deposit Amount
You can start your investment journey in Jana Bank’s FD account with a minimum deposit of Rs. 1000. You can always use an FD Calculator to estimate the maturity amount and accumulated interest of your FD by just providing basic details such as interest rate, tenure and principal amount.
● Online Convenience
You can transact online by using Jana Bank’s official application. So you need not visit the bank unless it’s urgent; now you can avail the services of the bank anywhere, anytime.
● Freedom of Choosing Interest Payout Options
With the convenience of choosing Monthly / Quarterly / Half-Yearly / Yearly interest payout options, you will be more than a happy customer to open an FD account at Jana Small Finance Bank.
Summing Up
Investing in Jana Small Finance FDs is an excellent choice for individuals seeking financial stability and guaranteed returns. The bank’s track record of reliability ensures that your hard-earned money is in safe hands, and you can count on receiving your principal amount along with the promised interest when your FD matures. Jana Small Finance Bank FD rates are lucrative, and this can provide peace of mind and a sense of financial security, allowing you to meet your financial objectives with confidence.
Jana Small Finance Bank FD Rates FAQ’s :-
Minors, individuals, Proprietorship, HUF (Hindu Undivided Family), Registered and Unregistered Body, Trusts, NGO, Partnerships, Cooperative Society, and Private Limited can open a Jana Small Finance FD account.
Yes, premature withdrawal is allowed, but there is a penalty charge of 1% for FDs greater than or equal to Rs. 200 lakhs and 0.5% for FDs less than Rs. 200 lakhs.
The minimum deposit amount needed to open a Jana Small Finance FD account is Rs. 1000.
Yes, Jana Small Finance FDs are considered safe investments, and they offer assured returns. However, it’s always wise to assess your financial goals before investing.
No, both pre-existing and new customers can open a Jana Bank FD account.