Jana Small Finance Bank FD Rates 2024

Jana Small Finance Bank offers a variety of fixed deposit schemes for individuals, Minors,  Proprietorship, HUF (Hindu Undivided Family), Registered and Unregistered Bodies, Cooperative Societies, Trusts, Partnerships, NGO and Private Limited Organisations.

The interest rates for these schemes vary depending on the type of account and age of the depositor. The general public can earn an interest rate of 3.00-8.50% per annum, while senior citizens can earn between 3.50-9.00% per annum. Depositors can choose terms from 7 days to 10 years. Additionally, for Jana Small Finance Bank Tax Saving FDs, the interest rate is 7.25% per annum for the general public and 7.75% per annum for senior citizens, with a tenure of 5 years.

Jana Bank Fixed Deposit Interest Rates 

The table below displays Jana Small Finance Bank FD rates for 2024 for general customers. Below interest rates are applicable for deposits less than 2 crore. 

* Interest rates updated as of 27 Feb 2024.

Jana Small Finance Bank FD Rates for Senior Citizens

The table below will take you through Jana Bank FD rates for senior citizens. Below interest rates are applicable for deposits less than 2 crore.  

* Interest rates updated as of 27 Feb 2024. 

Types of Jana Small Finance Fixed Deposit Schemes

Here are the fixed deposit schemes that Jana Small Finance Bank offers to its customers. read through it to understand the most suitable scheme for you to invest your money in.

• Regular Fixed Deposit

Jana Small Finance Bank Regular Fixed Deposit helps in steady growth of your investment throughout the tenure. Depositors can opt for different multiple options for interest payout according to their needs. The minimum investment amount for this scheme starts at Rs. 1000 and there is no upper limit of investment. 

• FD Plus

The FD Plus scheme from Jana Small Finance Bank allows investors to focus on capital growth to meet big goals in the long run. Individuals, Minors, Proprietorship, HUF (Hindu Undivided Family), Registered and Unregistered Bodies, Cooperative Societies, Trusts, Partnerships, NGOs and Private Limited Organisations can open a FD account under this scheme.

The minimum amount for individuals and HUF customers to start a FD is 1 crore. Others can make a FD Plus deposit with Rs. 15 Lakhs and more. The Jana Small Finance Bank FD rates for this scheme are higher than regular FD. FD Plus scheme also offers a flexible investment tenure that ranges from 7 days to 10 years. The interest rates for this scheme range from 3% per annum to 8.50% per annum. 

Premature withdrawal is not allowed except in case of death of the account holder or on order from statutory and/or regulatory authority.

• Tax Saving FD

With this Fixed Deposit scheme, you can enjoy tax deductions up to Rs. 1,50,000 under Section 80C of Income Tax Act. You can start this fixed deposit with an amount as low as Rs.100 up to Rs.1,50,000.  Jana Small Finance Bank tax Saving FD comes with a locking period of 5 years, premature withdrawal and loan against this FD are not allowed.  

• Deposits of Rs. 2 Crore and Above

This Fixed Deposit scheme allows individuals  HNI, SSO, corporates and government organisations to invest surplus amounts of Rs. 2 Crore and more in this account. The minimum tenure for investment in this scheme is 7 days. 

• Senior Citizen FD

Individuals above the age of 60 are considered as senior citizens. Jana Small Finance Bank allows senior citizens to start an FD with this scheme. The investment tenure for Jana Small Finance Bank senior Citizen FD ranges from 7 days to 10 years. The Jana Small Finance Bank FD rate is 0.50% higher for senior citizen FD than that of the general public. 

The minimum investment amount for this scheme is Rs. 1000 and the bank has not set any upper limit for Senior Citizen FD investment amount. 

Lowest and Highest FD Interest Rate In Jana Bank

The lowest and highest Jana Small Finance Bank FD rates for regular citizens are 3% and 8.50% per annum respectively. For senior citizens, the lowest and highest FD rates are 8.50% and 9% p.a. respectively

Jana Small Finance Bank FD Premature Withdrawal

Jana Small Finance Bank allows premature withdrawal of fixed deposits. However, you would need to pay premature withdrawal charges to withdraw the amount before tenure ends. The premature withdrawal charges are as follows. 

• Charges for FD below Rs. 2 crore: 0.5%
• FD charges for Rs. 2 crore and above: 1%

Tax on Jana Small Finance Bank FD Interest Income

By opting for Tax Saver FD with Jana Small Finance Bank, you can avail tax deductions up to Rs. 1,50,000 as per section 80C of Income Tax Act. Furthermore, the bank will charge TDS deductions for your FD returns after maturity regardless of your FD scheme. 

There is no TDS deduction for your interest income with Jana Small Finance Bank FD below Rs. 40,000 in a financial year for regular customers. However, for senior citizens, the upper limit for no TDS deduction is Rs.50,000. 

Jana Small Finance Bank will deduct TDS from your FD interest under the following circumstances. 

• If your maturity amount at the end of the tenure is more than Rs.40,000 and Rs.50,000 for senior citizens, the bank will charge 10% TDS. This rate is only applicable if you have submitted your PAN details at the time of starting FD. 
• 20% TDS deduction if you fail to submit your PAN details to Jana Small Finance Bank FD account opening. 

Final Words

Now that you know everything about Jana Small Finance Bank FD rates 2024, you are ready to start a fixed deposit with this bank. Before opening an FD account, consider calculating your maturity amount beforehand to have a clear idea of your investment amount and tenure for fixed deposit. You can use the FD calculator for that. 

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