Jana Small Finance Bank provides one of the higher fixed deposit interest rates available in the market. Investors have the option to park their savings from as little as 7 days to as long as 10 years. Also, there is tax saving FD which enables them to save up to Rs. 1.5 lakh on income tax u/s 80 C. Investors can earn significant returns at the prevailing Jana Bank FD rates (up to 7.25%). Read further to know about the varied FD schemes by the bank.
Jana Bank FD Interest Rates 2020
|Jana Bank FD Interest Rates (p.a.)|
|7 − 14 days||3.50%||4.00%|
|15 − 60 days||4.25%||4.75%|
|61 – 90 days||5.50%||6.00%|
|91 – 180 days||6.00%||6.50%|
|181 – 364 days||6.50%||7.00%|
|365 days (1 year)||6.90%||7.40%|
|1 year – 2 years||7.00%||7.50%|
|> 2 years – 3 years||7.50%||8.00%|
|> 3 years – less than 5 years||7.00%||7.50%|
|5 years (1825 days)||7.00%||7.50%|
|> 5 years – 10 years||6.50%||7.00%|
Note: Interest rates are applicable on deposits below ₹ 2 crores with effect from 11th August 2020.
Types of Jana Small Finance Bank Fixed Deposit Schemes
- Regular Fixed Deposits
- Senior Citizen Fixed Deposits
- Fixed Deposit of 2 crores & above
1. Regular Fixed Deposits
Jana Bank provides Regular Fixed Deposits for investors who want to earn high interest on their investment with no risk involved. Jana Bank Regular Fixed Deposit comes with relatively higher interest rates than a savings account or any other investment option with no risk involved. The benefits and features of Jana Bank Regular Fixed Deposits are as follows:
|Features of Jana Small Finance Bank Regular Fixed Deposit|
|Jana Bank Regular Fixed Deposit Eligibility Criteria|
|Jana Fixed Deposit account can be opened by Individuals, Minors, Proprietorship, HUF (Hindu Undivided Family), Registered and Unregistered Body, Cooperative Society, Trusts, Partnerships, NGO and, Private Limited.|
2. Senior Citizen Fixed Deposits
With Senior Citizen Fixed Deposits, Jana Small Finance Bank provides preferential interest rates over regular individuals for senior citizens. Senior citizens can invest in fixed deposits and earn 0.60% more than the interest rate offered to any regular individual. Following are the benefits and features of Jana Bank Senior Citizen Fixed Deposits:
|Features of Jana Small Finance Bank Senior Citizen Fixed Deposit|
|Jana Bank Senior Citizen Fixed Deposit Eligibility Criteria|
|Jana Bank Senior Citizen Fixed Deposit account can be opened by Resident Individuals in the age of 60 years or above.|
3. Fixed Deposit of Rs. 2 crore & above
Jana Bank Fixed Deposit of Rs.2 crore and above is specifically designed for HNIs, Corporates, SSO and government institutions to invest their surplus funds and earn high-interest rates. Following are some of the features & benefits of this fixed deposit scheme:
|Features of Jana Small Finance Bank Fixed Deposit of Rs.1 crore & above|
|Jana Bank Fixed Deposit of Rs.2 crore & above Eligibility Criteria|
Jana Bank Fixed Deposit of Rs.1 crore and above can be opened by Individuals, Minors, Proprietorship, HUF (Hindu Undivided Family), Registered and Unregistered Body, Cooperative Society, Trusts, Partnerships, NGO and Private Limited.
Both new and existing customers can invest in Jana Small Finance Bank Fixed Deposit.
Who Should Invest?
For those eyeing to save on income tax, Jana Tax Saver FD will be beneficial. As per Section 80C, deposits made in this account can be mentioned in Deductions when calculating taxable income, thus you can bring down your taxable income by up to Rs. 1.5 lakh.
For those who do not have a taxable income or have other tax saving options, can invest in regular FD (starting with Rs. 1,000) or FD Plus (starting with Rs. 15,00,001). FD Plus will give you a higher interest rate than the regular fixed deposit card rate.
For citizens of or above 60 years of age, Jana’s Senior Citizen FD can be useful. They get a higher interest rate by 0.6%.
Jana Small Finance Bank FD Calculator
If you are in complete confusion about your fixed deposit investment, then you can use a FD calculator at Paisabazaar.com which can help you make a more informed decision. If you wish to check the maturity amount of your fixed deposit, you will be required to only provide the amount that you wish to deposit, Jana Bank FD rate and preferred deposit tenure to check how much will your deposit will be worth at maturity.
Jana Small Finance Bank Fixed Deposit Documents Required
With the application form, any customer looking to invest in Jana Bank fixed deposit will be required to provide following documents.
|Documents Required for Jana Small Finance Bank Fixed Deposit|
Aadhaar Card / Aadhaar Enrolment (Not older than 6 months) and
PAN Card / Form 60 and
FATCA Declaration (Part of FD account opening form)
|Hindu Undivided Family|
Aadhaar Card / Aadhar Enrolment of Karta
PAN Card / Form 60 of HUF
PAN Card / Form 60 of Karta
Declaration from Karta & Joint Hindu Family duly signed by all adult holders (As per Annexure 2)
FATCA Declaration (Part of FD account opening form)
KYC Documents of the proprietor
Certified copy of PAN / GIR no. / Form 60 of the firm or proprietor and
FATCA Declaration and
Any two of the Business Proofs:
Sales & Income Tax Returns
Utility Bills such as electricity bills, landline bills etc.
Importer Exporter Code (IEC)
Certified Copy of PAN/GIR No. of the firm and
Certified copy of the partnership deed and
Certified copy of the registration certificate, in case of registered partnership and
Address proof of the firm, if not available in the partnership deed or registration certificate and
KYC documents of the Directors / Authorised signatories and
DIN of the Directors who are authorised signatories and
A certified true copy of Certificate of Incorporation & Memorandum & Articles of Association and
List of directors and
Board Resolution and
Certified Copy of PAN Card / GIR No. and
Firm’s Proof of address and
A certified true copy of Certificate of commencement of business (public limited company) and
|Trusts / NGO|
KYC documents of the Trustees / authorised signatories and
Certified copy of the registration certificate and
Certified copy of the Trust deed / Bye-Laws and
List of Current Trustees / Office bearers on the letterhead of the company and
Certified copy of resolution and
Certified copy of PAN Card/GIR No. and
Address Proof and
Income Tax registration u/s 12A and
KYC documents of the authorised signatories and
Certified copy of Rules / Regulations / Bye-Laws / Constitutional Document and
Resolution of the managing body and
Power of attorney granted to transact on its behalf and
Registration certificate and
Address proof and
Certified copy of PAN/GIR No. and
Government Department/ Agency / Board / ULB / Local Government (Taluk, Gram Panchayat/Autonomous Body)
KYC Documents and
Resolution / Authorization / Mandate Letter and
Identification of authorised signatories duly attested by unit head and
Certificate of Incorporation and
PAN Card / Form 60 / GIR No. / and
How to apply for a Jana Bank Fixed Deposit?
To apply for a Jana Bank Fixed Deposit, you just need to visit your nearest Jana Bank’s branch and their Relationship Manager will guide you with the FD application process. Alternatively, you can also connect with the Customer Care Executive, who will fix an appointment with the bank’s Relationship Manager to assist you with the fixed deposit application process.