Jana Small Finance Bank Limited (Jana Small Finance Bank) is a leading Small Finance Bank in India. It was operating as an NBFC-MFI before getting a banking licence from the Reserve Bank of India (RBI) in 2017 and started its banking operations in 2018. Jana Small Finance Bank is named after Janalakshmi MicroFinance.
As of February 2021, it has 611 branch networks across India, including 166 Branches in Unbanked Rural Centres, and 134 ATMs located in 229 districts in 19 states and three union territories. Since its inception in 2008, Jana Small Finance Bank has served over 80 lakh customers since 2008, including approximately 30 lakh active customers.
|Tenure||For General Citizens (p.a.)||For Senior Citizens (p.a)|
|7 days to 14 days||3.75%||4.45%|
|15 days to 60 days||4.25%||4.95%|
|61 days to 90 days||5%||5.7%|
|91 days to 180 days||6.25%||6.95%|
|181 days to 364 days||7%||7.7%|
|1 year (365 Days)- 499 Days||7.25%||7.95%|
|501 Days-2 years||7.25%||7.95%|
|More than 2 years to 3 years||7.35%||8.05%|
|More than 3 years to less than 5 years||7.25%||7.95%|
|Note: All interest rates are updated as of 18th May 2023|
Regular Fixed Deposit
Regular fixed deposit allows customers to park their surplus funds as a lump sum and enjoy attractive returns on it.
Tax Saver FD
Save on your taxes by investing in Jana Small Finance Bank’s Tax Saver Fixed Deposit. The following are some of the features of Tax Saver FD:
FD Plus depositors enjoy a higher interest rate than a Regular FD. Let’s have a look at some of its features:
To invest in Jana Small Finance Bank Fixed Deposits, the following are eligible:
To open a fixed deposit, you will need to complete the KYC check with the bank. You need to submit identification proof such as PAN and Aadhaar card. Apart from this, the following are the Officially Valid Documents (OVD) as specified by the Government of India and RBI will be accepted:
Fixed deposit accounts can be opened in following ways:
As per the Income Tax Act of India of 1961, taxpayers can seek deductions under Section 80C if they invest in FDs.
In a given financial year, a taxpayer can avail tax deduction to a maximum of ₹1.5 lakhs from their gross taxable income, provided the following conditions are fulfilled:
At the time of filing the Income Tax Returns (ITR), the taxpayer can provide supporting documents to avail tax benefits on FDs.
Tax Deducted at Source (TDS)
Minimum tenure for a tax saver FD in Jana Small Finance Bank is 5 years with no premature withdrawal allowed.
Yes. ₹5 lakhs DICGC (Deposit Insurance and Credit Guarantee Corporation) insurance cover is applicable on Jana Small Finance Bank FD.
The maximum tenure of FD in Jana Small finance bank is 10 years
Disclaimer: The calculator and the results of the same are based on information inputted by you and extracted from third party sources. The information on this page is for illustrative purposes only and does not amount to any investment advice or recommendation. Wint Wealth has no commercial interest or gain in or from the actions resulting from the information displayed on this page. The information displayed on this page does not constitute an invitation to invest in any product nor is it a promise of performance. Interest rates are not updated in real time and you are advised to make your own enquiries, consult a professional advisor and verify the information prior to taking any investment decisions.