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How to Close Jana Small Finance Bank Fixed Deposit (FD) Online

Updated 08 Dec 2023

Fixed Deposits are one of the safest investment options available, offering assured returns. Yet, unforeseen circumstances can sometimes prompt a need to close these FDs prematurely. With Jana Small Finance Bank, this process is straightforward, though it’s essential to be informed about the terms and repercussions.

This blog is dedicated to guiding you through the steps to close your FD in Jana Small Finance Bank.

How to Close an FD in Jana Small Finance Bank

Online Method

  • If you have an online banking account with Jana Small Finance Bank, the process to break the FD is simple.
  • Log in to your account and navigate to the fixed deposit section. There you will find an option to break or close the FD.
  • Follow the instructions, and the process will be completed.
  • Additionally, Jana Small Finance Bank customers can also opt for a video KYC form to facilitate online procedures.

Offline Method

  • Visit your nearest Jana Small Finance Bank branch.
  • The bank officials will guide you through the FD breaking process. Make sure you carry all the necessary documents like the FD receipt and your identity proofs.

Customer Care Assistance

  • Contact Jana Small Finance Bank’s Customer Care.
  • Their executive will schedule an appointment with a Relationship Manager, who can guide you through the procedure of closing your FD.

FAQs

What are the penalties for prematurely closing an FD in Jana Small Finance Bank?

For FD Plus deposits less than ₹2 crores, the penalty rate is 0.5%. For those of ₹2 crores or more, the penal rate is 1%. The interest will be the lower of either the contracted tenure rate or the rate applicable for the actual deposit duration.

Can I close a Tax Saver FD in Jana Small Finance Bank before its maturity?

No, Tax Saver Fixed Deposits in Jana Small Finance Bank have a lock-in period of 5 years and cannot be prematurely withdrawn.

If I close my FD, will the interest be calculated on a simple interest basis?

Yes, for all non-cumulative FDs, interest is calculated on a simple interest basis.

Are there any exemptions for premature withdrawal of FD Plus deposits?

Yes, FD Plus deposits can only be prematurely withdrawn in the case of the account holder's death or on orders from regulatory or statutory authorities.

How will I know the amount I will receive after prematurely closing my FD?

When closing an FD, the bank will provide the breakage amount details, which will include the principal amount and the interest accrued up to that point, minus any penalties.

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