Senior Citizens Fixed Deposit Interest Rates in Jana Small Finance Bank

Overview FD Interest Rates Open FD Close FD Tax Saving FD Senior Citizen FD Rates

Updated 19 Dec 2023

Jana Small Finance Bank has been a beacon of trust and commitment in the banking sector. Recognizing the significance of financial stability for senior citizens, Jana Small Finance Bank ensures that their FD scheme for senior citizens stands out by providing higher interest rates than those available to the general public. Delve into how Jana Small Finance Bank rolls out the red carpet for senior citizens with its attractive interest rates.

Features of Jana Small Finance Bank Senior Citizen FD

Enhanced Interest Rates: Senior citizens usually gain from an extra interest rate over the standard FD rates. The particular rate depends on the bank's ongoing propositions.
Qualification: Senior citizen FD accounts are exclusively available to individuals aged 60 and above.
Duration: Customers can opt from an assorted range of FD terms, typically spanning between 7 days to 10 years.
Early Withdrawal: Even though penalties might be charged, senior citizens frequently avail more lenient terms for premature FD closures.
Borrowing Options: In line with other depositors, senior citizens can leverage the advantage of obtaining loans against their FDs.
Beneficiary Assignment: Jana Small Finance Bank ensures that beneficiaries can access the FD funds following the demise of the account owner.
Tax Deduction at Source (TDS) Implications: Indian tax rules dictate that interest earnings are subject to tax. However, senior citizens, upon providing Form 15H, can avert TDS subtractions.
Automatic Renewal: Several banks, perhaps including Jana Small Finance Bank, incorporate an automatic renewal feature, ensuring the FD remains active post its maturity unless stated otherwise.
Deposit Limits: The amount for a senior citizen FD might vary. A minimum limit is usually established, but a maximum cap might be non-existent.
Unique Offerings: On occasion or through bank-driven campaigns, bespoke benefits or features designed for senior citizens might be introduced.

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Jana Small Finance Bank FD Interest Rate for Senior Citizens

Tenure	Senior Citizen FD Rate
7 days - 14 days	4.25%
15 days - 1 month 29 days	4.80%
2 months - 2 months 29 days	5.50%
2 months 30 days - 5 months 27 days	6.75%
5 months 28 days - 11 months 29 days	7.50%
11 months 30 days - 11 months 30 days	7.75%
1 year - 1 year 11 months 29 days	9.00%
1 year 11 months 30 days - 2 years 11 months 30 days	7.90%
3 years - 4 years 11 months 28 days	7.80%
4 years 11 months 29 days - 9 years 11 months 28 days	6.50%

Note: All interest rates shown above are as on 4th Aug 2023

Eligibility

The ‘Senior Citizen FD’ at Jana Small Finance Bank is exclusively available for individuals aged 60 or above.
The bank provides an augmented interest rate of 0.75% for its Senior Care FD.
Please note the Senior Care FD scheme is not extended to NRIs.

Documents Required to Open a Jana Small Finance Bank Fixed Deposit for Senior Citizens

Identity Proof

Aadhaar card
Voter ID
Ration card
Passport
PAN card
Driving Licence

Address Proof

Bank Statement
Cancelled Cheque
Utility Bills

FAQs

Is there a special scheme for senior citizens?

Yes, Jana Small Finance Bank offers the 'Senior Citizen Care' FD, which furnishes additional perks compared to the regular FD.

Can I break my Senior Citizen FD prematurely?

Yes, you can. However, this action might attract a penalty. It's recommended to consult the bank for more information.

Is TDS applicable on the interest garnered from Senior Citizen FD?

Absolutely. TDS is levied if the aggregate interest earned surpasses the benchmark determined by the Income Tax department within a fiscal year.

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