Jana Small Finance Bank (Jana SFB) has recently modified its interest rates for fixed deposits below Rs 2 crore, applicable to domestic, NRO, and NRE account holders.
These revised rates present an opportunity for customers to enjoy increased returns, ranging from 3.75% to 6% for the general public,
and 4.25% to 6.50% for senior citizens.
The rates are applicable across various deposit durations, spanning from 7 days to 10 years.
Maximum Interest Rate Offered
Jana Small Finance Bank is now providing a maximum interest rate of 8.50% on fixed deposits maturing between 366 days to 2 years.
Senior citizens, on the other hand, can avail a maximum interest rate of 9%. The updated interest rates came into effect on May 30, as per the bank’s official website.
Jana Small Finance Bank FD Interest Rates
For different maturity periods, Jana Small Finance Bank is offering the following interest rates:
- FDs maturing in 7-14 days: 3.75%
- FDs maturing in 15-60 days: 4.25%
- FDs maturing in 61-90 days: 5%
- FDs maturing in 91-180 days: 6.25%
- FDs maturing in 181-364 days: 7%
- FDs maturing in 1 year: 7.25%
- FDs maturing in 366 days to 2 years: 8.50%
- FDs maturing in 2-3 years: 7.35%
- FDs maturing in 3-5 years: 7.25%
- FDs maturing in 5-10 years: 6%
This was all.
Senior Citizens’ Interest Rates
Senior citizens are eligible for an additional benefit of 50 basis points (bps) on all maturity periods. However, this advantage is exclusively available to Indian citizens.
Additionally, account holders investing in the five-year tax-saving fixed deposit can avail a deduction of up to Rs 1.5 lakh under Section 80C of the Income Tax Act.
In conclusion, Jana Small Finance Bank’s revised fixed deposit interest rates offer attractive returns for both the general public and senior citizens.
The bank’s latest adjustments aim to provide customers with enhanced opportunities to grow their savings while taking advantage of the tax-saving benefits available.
