Jana Small Finance Bank Fixed Deposit

Investing in a trusted institution is crucial for the growth of one's savings, and Jana Small Finance Bank has been a preferred choice for many. With its diverse fixed deposit schemes and other banking services, Jana Small Finance Bank has catered to the financial needs of millions across India. 

This article will delve into the various fixed deposit schemes offered by Jana Small Finance Bank, their features, and benefits.

• Regular Fixed Deposit
• Tax Saver FD
• FD Plus

• Period: The tenure of the FD with Jana Small Finance Bank ranges from 7 days to a maximum of 10 years.
• DICGC insurance: The amount invested with the Jana Small Finance Bank is covered by Deposit Insurance and Credit Guarantee Corporation (DICGC) for the total sum of ₹5 lakhs.
• Minimum amount: Fixed deposits with Jana Small Finance Bank can be opened with an investment as low as ₹1,000.
• Tax benefits: Jana Small Finance Bank’s Tax Saving FD offers exemptions under Section 80C of the Income Tax Act of 1961, helping to save taxes.
• Auto-renewal option: Jana Small Finance Bank offers an auto-renewal option for their FDs. However, this facility is not available for the FD Plus scheme.
• Nomination facility: Depositors can nominate beneficiaries for their investments in Jana Small Finance Bank FDs.

Regular Fixed Deposit

• Minimum deposit amount for FDs is ₹1,000
• Interest can be received monthly, half-yearly, quarterly, or yearly.
• For all non-cumulative FDs, interest is calculated on a simple interest basis.
• Both new and existing customers can open a fixed deposit.
• Based on the tenor, the interest rate ranges from 3% - 8.5% for the general public, and 3.5% to 9% for senior citizens. 

Tax Saver FD

• Investments made in this scheme are eligible for a tax deduction of up to ₹ 1.5 lakhs under Section 80C of the Income Tax Act of 1961.
• The deposit amount can range from a minimum of ₹100 to a maximum of ₹ 1.5 lakhs.
• Tenure of the deposit is five years with a lock-in period of 1825 days.
• Only the first holder of the deposit can avail the deduction.
• Based on the tenor, the interest rate ranges from 3% - 8.5% for the general public, and 3.5% to 9% for senior citizens. 

FD Plus

• The minimum amount of investment is above ₹15 lakhs.
• FD can be made for a period of 7 days to 10 years.
• Auto-renewal facility is not available.
• Premature withdrawal of FD is not allowed except in certain cases.
• Based on the tenor, the interest rate ranges from 3% - 8.5% for the general public, and 3.5% to 9% for senior citizens. 

• Individuals
• Minors
• Proprietorship
• Hindu Undivided Family (HUF)
• Registered and unregistered bodies
• Cooperative societies
• Trusts
• Partnerships
• NGO
• Private limited organisations

Identity proofs

• PAN
• Aadhaar card

Address proofs

• Passport
• Voters ID Card
• Driving Licence
• Job Card issued by NREGA
• Letter issued by the National Population Register

Fixed deposit accounts can be opened in the following ways: 

• You can contact Jana Small Finance Bank’s Customer Care and their executive will schedule a service appointment at a time that is convenient to you so that the Relationship Manager can help you with the online application process, or 
• Visit the nearest branch of Jana Small Finance Bank and officials in the branch will help you with the FD process. 
• Investors can also choose a video KYC form to open an FD with Jana Small Finance Bank.

• The applicable interest rate will be reduced by a penal rate based on the deposit amount for FD Plus deposits.
• FD Plus deposits can only be withdrawn prematurely in specific cases.
• Tax Saver Fixed Deposits do not allow premature withdrawals.