• Fixed Deposit
  • Jana Small Finance Bank
  • Jana Small Finance Bank Fixed Deposit
Jana Small Finance Bank Fixed Deposit

Jana Small Finance Bank Fixed Deposit

PrivateNA 
DICGC

7.3%

Interest for 3 years

Jana Small Finance Bank FD Interest Rates 2024

TenureNormal Citizen FD RateSenior Citizen FD Rate
7 days - 14 days3%3.5%
15 days - 2 months4.3%4.8%
2 months 1 day - 3 months5%5.5%
3 months 1 day - 5 months 29 days6.5%7%
5 months 30 days - 11 months 29 days8%8.5%
11 months 30 days - 11 months 30 days8.5%9%
1 year - 1 year 11 months 30 days8.3%8.8%
2 years - 4 years 11 months 29 days7.3%7.8%
4 years 11 months 30 days - 9 years 11 months 28 days6.5%7%

Note: All interest rates shown above are as on 5th Feb 2024

About Jana Small Finance Bank FD

Jana Small Finance Bank (erstwhile Janalakshmi Financial Services Limited) commenced operations as a non-banking finance company (NBFC) on March 4, 2008 and was later classified as a non-banking finance company-microfinance institution (NBFCMFI). The bank received a license to set up a small finance bank on April 28, 2017 and commenced banking operations on March 28, 2018. Jana Holdings Limited (JHL), a non-banking finance company-non-operative financial holding company (NBFCNOFHC), holds a 42.1% stake in JSFB as on September 30, 2020. Incorporated on March 10, 2016, Jana Holdings Limited (JHL) is a non-banking finance company – non-operative financial holding company (NBFC-NOFHC). JSFB has a diversified presence across 22 states and union territories in India

Jana Small Finance Bank FD

3% - 8.5%

FD Rate

3.5% - 9%

FD Rate for Seniors

₹ 1000

Minimum Deposit

₹ 2 Crores

Maximum Deposit

-

Lock-in

-

FD Tenure

-

Loan against FD

NA

CRISIL Rating

Jana Small Finance Bank FD Returns Based on Investment Amount

Investment AmountFor 3 years with interest of 7.3%For 5 years with interest of 7.3%
₹ 50,000 ₹ 62,200₹ 71,946
₹ 1 lakh ₹ 1,24,401₹ 1,43,892
₹ 2 lakh ₹ 2,48,801₹ 2,87,784
₹ 5 lakh ₹ 6,22,003₹ 7,19,461
₹ 10 lakh ₹ 12,44,006₹ 14,38,922

Compare Jana Small Finance Bank Fixed Deposit Returns with Top Banks

Use FD calculator to change values and compare your returns from top banks.

vs
Bandhan Bank FD
Jana Small Finance Bank FD
Jana Small Finance Bank FD
Maturity Amount 1,08,839 1,07,496
Total Investment Amount₹ 1,00,000₹ 1,00,000
Total Interest Gained8,839 7,496

Compare Jana Small Finance Bank Fixed Deposit Rates with Top Banks

Bank NameFD Interest Rates
Bandhan Bank FD
7.25% - 7.75%
Capital Small Finance Bank FD
7.15% - 7.65%
Bharat Bank FD
7.25% - 7.75%
Madhyanchal Gramin Bank FD
6% - 6.5%
Jharkhand Rajya Gramin Bank FD
6.5% - 6.75%
Uttarakhand Gramin Bank FD
6.3% - 6.8%
ICICI HFC FD
7.65% - 7.9%
Maharashtra Gramin Bank FD
6.85% - 7.35%
Federal Bank FD
7% - 7.5%
Union Bank of India FD
6.5% - 7%

Calculate Jana Small Finance Bank FD Returns

1,00,000

Total Investment

8,839

Wealth Gained

1,08,839

Maturity Amount

Explore Debt Funds, instead!

The flexible & tax efficient alternative to FDs.

Jana Small Finance Bank is a scheduled commercial bank, established in the year 2008 in Bengaluru. They offer a variety of deposits that ensure that investors earnings grow effortlessly. The bank offers high rates of interest on their FDs. It also offers premature withdrawal facility and overdraft facility on its FDs. In this article, we have covered about Jana Small Finance Bank FD rates in detail.

Key Features of Jana Small Finance Bank Fixed Deposit

Jana Small Financ Bank fixed deposit schemes ensure that investor’s deposits grow effortlessly by boosting one’s earnings. Following are the key features of Jana Small Finance Bank fixed deposits:

Tenure

The tenure of Jana Small Finance Bank fixed deposits range between 7 days and 10 years. Once, the tenure of the FD commences, it is difficult to change the tenure. However, one can choose to withdraw their investment prematurely and invest in a fresh FD with the desired tenure.

Minimum and Maximum Deposit Amount

The minimum and maximum amount of deposit are dependent on the type of FD chosen.

  • Regular Fixed Deposit: Investors can invest a minimum of INR 1000. The maximum amount of investment in this FD is INR 2 crore.
  • FD Plus: The minimum investment in this type of FD is INR 15,00,001. There is no cap on the maximum amount of investment.
  • Deposits of INR 2 crore and above: The minimum amount of investment in INR 2 crore and there is no cap on the maximum amount of investment.
  • Tax saver FD: The minimum amount of investment is INR 100, and the maximum amount of investment is INR 1,50,000 per annum.

Jana Small Finance Bank FD Interest Rate

Jana Small Finance Bank fixed deposit rates range between 3% and 7.5%. Returns from Jana Bank fixed deposits can be calculated using the Jana Bank FD calculator

Preferential Interest Rates

Jana Small Finance Bank offers preferential interest rates for senior citizen depositors. Senior citizens get an additional 0.5% on their fixed deposits. The interest rates range between 3.5% to 8% for senior citizen depositors.

Eligibility

To open an FD account with Jana Bank one has to be eligible. Following types of customer can invest in Jana Bank FDs.

  • Individuals including minors
  • Proprietorship
  • Partnerships
  • Private Limited Companies
  • HUF (Hindu Undivided Family)
  • Cooperative Society, Trusts, Registered and Unregistered Body, and NGO
  • For tax saver FDs, only individuals and HUFs are eligible to invest.

Documents required

Following are the documents that investors have to submit along with a completed and signed account opening form.

  • Recent photograph
  • PAN Card or Form 60
  • Aadhaar Card 
  • Other officially valid documents like passport, voters ID, driving license, job card issued by NREGA, and letter issued by National population Register.
  • FATCA declaration

Additional Payments

It is not possible to deposit any additional amount in an existing Jana Small Finance Bank fixed deposit. However, one can always invest in a fresh Jana Bank FD with an additional amount.

Tax and TDS

Investment in Jana Bank Tax Saver Fixed Deposit qualifies for tax deduction under Section 80C of the Income Tax Act, 1961. Investors can claim the same while filing income tax returns. The interest income that one earns from Jana Bank FDs is taxable as per the individuals’ income tax slab rates. Furthermore, there is a TDS charge that Jana Bank deducts if the interest income exceeds INR 40,000 (INR 50,000 for senior citizens). The TDS rate applicable is 10%, provided the investor submits the PAN details. Else, the TDS rate is 20%.

To know to determine if the interest income from Jana Small Finance Bank FD is above or below the TDS threshold limit, one can use their bank fixed deposit calculator available online. Also, to estimate their tax liability, one can use an Income Tax Calculator. Scripbox’s online Income Tax Calculator is available online. It is free to use and helps in estimating one’s tax liability.

Safety

Under the Deposit Insurance Scheme of RBI, DICGC insures all Jana Small Finance bank deposits up to INR 5,00,000.

Premature withdrawal

Jana Bank allows premature withdrawal facility on few FDs.

  • Regular FD: Premature withdrawal facility is available at a penalty. For deposits below INR 2 crore, the penalty is 0.5%, and for deposits above INR 2 crore, it is 1%.
  • FD Plus: No premature withdrawal facility is available
  • Tax saver FD: No premature withdrawal facility is available.

Nomination Facility

Depositors can nominate beneficiaries for their Jana Small Finance Bank FDs.

Auto-Renewal

Jana Small Finance Bank offers an auto-renewal facility for the deposits.

Convenience

Opening and managing Jana Small Finance Bank FD investments is easy and convenient through their online portal.

Loan against fixed deposit and Overdraft

Jana Bank allows loan against fixed deposit. The tenure of the loan is limited to the tenure of the FD. The bank doesn’t allow any overdraft facility against their tax-saving deposits.

Jana Bank gives loans such as education loans, loan against property (home loan), business loans, etc., against their FD. To calculate their loan EMI one can use the loan EMI calculator. The loan EMI calculator can be used as a home loan calculator, personal loan EMI calculator, and car loan calculator. The investor can also use an EMI calculator in multiple scenarios by changing the variables like home loan interest rate, personal loan interest rate, and car loan interest rate.

Pan Card

One doesn’t require a PAN to open a Jana Bank FD account. Though PAN isn’t mandatory, there are a few implications. The applicable TDS rate will be 20%, as per the regulations of section 206AA, instead of the regular 10%. Jana Bank will not issue any TDS certificate. Form 15G, form 15H, and all exemption certificates will be invalid.

Requirement of savings account

Individuals require a Jana Bank savings account to invest in their FDs.

Types of Fixed Deposit Schemes offered by Jana Small Finance Bank

  • Regular Fixed Deposit
  • Fixed Deposit Plus
  • Deposit of 2 crores and above
  • Tax Saver FD

1. Regular Fixed Deposit

Jana Small Bank’s regular term deposit ensures that the earnings grow steadily and effortlessly. The scheme offers attractive interest rates and multiple interest payout options. It offers higher interest rates than a savings account.

  • Tenure: 7 days to 10 years
  • Minimum Deposit Amount: INR 1,000
  • Maximum Deposit Amount: INR 2 crore
  • Premature withdrawal: The bank allows premature withdrawals; however, charges a penalty.
  • Auto-renewal Facility: Not available

2. Fixed Deposit Plus

The scheme has a wide variety of tenure that range from 7 days to 10 years. The scheme offers a higher deposit rate over and above the regular term deposit rate.

  • Tenure: 7 days to 10 years
  • Minimum Deposit Amount: INR 15,00,001
  • Maximum Deposit Amount: No limit
  • Premature withdrawal: No applicable
  • Auto-renewal Facility: Not available

3. Deposit of 2 crores and above

The scheme is specially designed for HNIs, Corporates, and Government Institutions to park surplus funds and enjoy attractive returns.

  • Tenure: 7 days
  • Minimum Deposit Amount: INR 2 crore
  • Maximum Deposit Amount: No limit
  • Premature withdrawal: The bank allows premature withdrawals

4. Tax Saver Fixed Deposit 

The Tax Saver deposits qualify for tax deduction under Section 80C of the Income Tax Act. Deposits up to 1,50,000 qualify for the tax deduction.

  • Tenure: 5 years
  • Minimum Deposit Amount: INR 100
  • Maximum Deposit Amount: INR 1,50,000, the limit is for the respective financial year only.
  • Premature withdrawals: Not allowed

Does Jana Small Finance Bank offer Recurring Deposits?

Yes, Jana Small Finance Bank offers recurring deposit schemes. Depositors invest the fixed sum on a monthly basis at an attractive interest rate. The scheme offers an opportunity to build wealth securely through regular monthly deposits of a fixed sum for a period of time.

  • Tenure: 6 months to 10 years
  • Minimum Deposit Amount: INR 100 and in multiples of INR 100 thereafter
  • Convenience: One can invest in a recurring deposit either online through internet and mobile banking or by visiting the nearest bank branch.

Frequently Asked Questions

What is the highest Jana Small Finance Bank FD rate today?

The highest Jana Small Finance Bank FD rates for general citizens is 8.5% p.a. and 9% p.a. for senior citizens.

What is the highest interest rate on Jana Small Finance Bank 1 year FD scheme?

The highest interest rate on Jana Small Finance Bank 1 year FD scheme is 8.5% p.a.

What is Jana Small Finance Bank FD scheme interest rate for 5 years?

7.3% p.a is the interest rate for 5 years on Jana Small Finance Bank FD scheme.

How many years FD will double in Jana Small Finance Bank?

To know in how many years Jana Small Finance Bank Bank FD will double, we can follow the 72 rule. We have to divide 72 by the interest rate, and the result will be the number of years Jana Small Finance Bank Bank FD will double. The current highest Jana Small Finance Bank FD interest rate is 8.5% so investors will double the investment in 8.47 years. Similarly, senior citizen depositors will double their FD investment in 8.00 years, where the highest FD rate for senior citizens is 9%.

What is Jana Small Finance Bank FD minimum deposit amount?

The minimum investment in Jana Small Finance Bank FD is INR 1,000. However, there is no limit on the maximum amount of investment in Jana Small Finance Bank FD.

What is senior citizen fixed deposit interest rates in Jana Small Finance Bank?

The senior citizen fixed deposit interest rates in Jana Small Finance Bank range between 3.5% to 9% p.a. for an available minimum and maximum investment duration.

What are the available FD tenures in Jana Small Finance Bank?

Jana Small Finance Bank FD tenure ranges from 7 days to 9 years 11 months 28 days

What is Jana Small Finance Bank FD ROI for 10 lakh deposit for 1 year?

The interest from the Jana Small Finance Bank FD calculator for 10 lakh deposit for 1 year will be INR 88,391. The maturity value will be INR 10,88,391. You can use Scripbox’s FD Calculator to determine the maturity value of your investment.

How to check the fixed deposit balance in Jana Small Finance Bank?

You can check Jana Small Finance Bank FD balance either online or offline mode. For online mode, log in to the Jana Small Finance Bank internet banking portal. Alternatively, you can visit the nearest Jana Small Finance Bank bank to update your passbook for FD balance enquiry.

How many FDs can be opened in Jana Small Finance Bank?

There is no restriction on the number of FDs you can open with Jana Small Finance Bank.