Home / Industry / Banking /  Jana SFB hikes FD rates with up to 8.80% return to senior citizens on this tenor

Jana Small Finance Bank (SFB) has hiked its interest rates on fixed deposits of less than 2 Cr. According to the bank's official website, the new rates take effect on February 1st, 2023. Following the modification, the bank is now providing interest rates on deposits with tenors ranging from 7 days to 10 years that range from 3.75% to 6.00% for the general public and 4.45% to 6.70% for senior citizens. Jana Small Finance Bank will now provide a maximum return of 8.10% to non-senior citizens and 8.80% to senior citizens on a deposit tenor of 2 years to 3 years.

Jana Small Finance Bank FD Rates

The bank is now promising an interest rate of 3.75% on deposits that mature in the next 7–14 days and 4.25% on deposits that mature in the next 15–60 days. Currently, Jana Small Finance Bank is offering interest rates of 5.25% on deposits with tenors of 61 to 90 days and 5.50% on deposits with tenors of 91 to 180 days. Deposits with maturities between 181-364 days and 1 year [365 days] will now earn interest at a rate of 7.00% and 7.25%, respectively.

The bank will now give an interest rate of 7.50% on deposits maturing in 1 Year to 2 Years, while Jana SFB will also guarantee a maximum interest rate of 8.10% on deposits maturing in 2 Years to 3 Years. On deposits with a tenor of 3 to 5 years, Jana SFB will now guarantee an interest rate of 7.35%, while the bank guarantees an interest rate of 7.25% on deposits with a tenor of 5 years [1825 days]. The interest rate on deposits that mature in 5–10 years has increased to 6.00%.

Jana Small Finance Bank FD Rates
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Jana Small Finance Bank FD Rates (janabank.com)

“In case of premature withdrawal of fixed deposit: The Interest rate applicable for premature closure will be lower of the rate for the original /contracted tenure for which the deposit has been booked OR the rate as prevailing on the date of deposit for the tenure for which the of deposit has been in force with the Bank," said Jana Small Finance Bank on its website.

Both new and existing customers can open a fixed deposit account at Jana Small Finance Bank. Attractive returns are available through monthly, quarterly, half-yearly, and annual payout options when opening a fixed deposit account with Jana Small Finance Bank at a minimum deposit of 1000.

Vipul Das
Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
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