Janata Sahakari Bank Fixed Deposit

Introduced in 1949 in Pune, Janata Sahakari Bank has a prominent presence in Maharashtra and Gujarat, designed to serve a broader spectrum of society. Fixed Deposits, with their security and returns, are an attractive offering by this bank. Let's dive into the various fixed deposit schemes and their features provided by Janata Sahakari Bank.

• Reinvestment Deposit Scheme
• Deposits For Income Tax Savings
• Janata Sahakari Bank Monthly Income Scheme
• Janata Sahakari Bank Quarterly Interest Scheme
• Janata Sahakari Bank Janahit Deposit Scheme

• The FD with Janata Sahakari Bank ranges from 7 days to 10 years.
• The amount invested with the bank is covered by Deposit Insurance and Credit Guarantee Corporation (DICGC) for the total sum of ₹5 lakhs.
• Fixed deposits with Janata Sahakari Bank can be opened with a minimum investment of ₹5,000.
• Additional interest rates for senior citizens.
• Depositors can nominate beneficiaries for their investments in Janata Sahakari Bank FDs.

Reinvestment Deposit Scheme

• Scheme tenure: 7 days to 10 years
• Principal, along with compound interest, is repaid at the time of maturity.
• Senior citizens enjoy an additional interest rate.
• You can avail a loan of up to 90% of accrued money.
• A nomination facility is available.

Deposits For Income Tax Savings

If you invest in this FD, you are eligible for a tax deduction of up to ₹1.5 lakhs under Section 80C of the Income Tax Act of 1961.

• Maximum investment: ₹1.5 lakhs per annum.
• Scheme tenure: 5 years
• Lock-in period: 5 years
• Senior citizens enjoy an additional interest rate.
• No loan facility is available under this deposit.
• A nomination facility is available.

Janata Sahakari Bank Monthly Income Scheme

• Scheme tenure: 7 days to 10 years.
• Under this scheme, the bank pays the interest monthly.
• The interest under this scheme is payable at discounted rates.
• Senior citizens enjoy an additional interest rate.
• A nomination facility is available.

Janata Sahakari Bank Quarterly Interest Scheme

• Scheme tenure: 7 days to 10 years.
• Under this scheme, the bank pays the interest quarterly.
• Senior citizens enjoy an additional interest rate.
• You can avail a loan under this scheme.
• A nomination facility is available.

Janata Sahakari Bank Janahit Deposit Scheme

• Minimum investment: ₹5,000 and in multiples of ₹1,000.
• Scheme tenure: 45 days
• You can opt for cumulative and non-cumulative options. In this non-cumulative option, the bank will transfer the interest to your current or savings account.
• You can avail a loan of up to 90% of the deposit.
• You can avail a loan under this scheme.
• A nomination facility is available.

To invest in a fixed deposit offered by Janata Sahakari Bank, you must fulfil specific eligibility criteria. The list below specifies the ones eligible for these schemes:

• Indian residents
• Minors (under the guardians)
• Hindu Undivided Families (HUFs)
• Non-Resident Indians (NRIs)
• Companies
• Proprietary firms
• Partnership firms
• Association of Persons (AOPs)
• Trusts
• Local authorities
• Body of Individuals (BOIs)
• Registered societies
• Limited Liability Partnerships (LLPs)

Let us take a look at the list of documents required for opening an FD at Janata Sahakari Bank:

Proof of identity: 
PAN card (Form No. 60 or 61 in case you cannot produce your PAN card), Aadhaar card, voter card, driving licence, passport or any other documents as per KYC norms.

Proof of address: 
Aadhaar card, electricity bill, telephone bill, bank statement with a cheque and any other proof as per KYC norms.
Recent passport-sized photographs 
Any other documents concerning HUFs, partnership firms, trusts, associations and companies requested by the bank.

Here is a step-by-step detailed guide that you can follow to open a fixed deposit account at Janata Sahakari Bank:

Step 1: Visit the nearest branch and request an account opening form for a fixed deposit. 
Step 2: Fill it up by providing all the necessary details such as your name, contact details, address, PAN number, type of account you wish to open, name of the nominee, etc.
Step 3: Enter the tenure for your fixed deposit scheme. 
Step 4: Attach a cheque for the amount you wish to invest in the term deposit scheme and your account opening form. Alternatively, you can transfer the amount from any other account via net banking.
Step 5: Submit the form along with all the supporting KYC documents.
Step 6: The bank representatives will verify all your documents.
Step 7: The bank will provide an acknowledgement slip for your fixed deposit.

Apart from this, you can also download the fixed deposit application form from the bank’s website and complete the rest of the process by submitting the form along with the documents to the nearest bank branch.