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Jana Small Finance Bank (SFB) has revised interest rates on savings accounts and fixed deposits of less than 2 Cr. As per the official website of the bank, the new rates are effective as of 01st December 2022. Following the revision, the bank is now offering a maximum interest rate of 7.00% on savings accounts whereas, on fixed deposits, Jana SFB will now offer a maximum interest rate of 7.55% to the general public and 8.50% to senior citizens on deposits maturing in 2 years to 3 years.

Jana Small Finance Bank Savings Account Rates

On savings account balances upto Rs. 1 lakh, the bank will offer an interest rate of 3.50% and on savings account balances of more than Rs. 1 lakh to Rs. 50 Crores, Jana SFB is offering an interest rate of 7.00%. Jana SFB is offering an interest rate of 6.50% on savings account balance of more than Rs. 50 Crores. The savings account's day-end balances are employed to calculate interest. On a quarterly basis, interest is paid or credited to savings accounts. Jana Small Finance Bank has mentioned on its website that “If a customer maintains Rs.150,000/- in the savings account, 3.50% interest will be earned for Rs.100,000/- and 7.00% interest will be earned for the remaining Rs.50,000/-."

Jana Small Finance Bank Savings Account Rates
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Jana Small Finance Bank Savings Account Rates (janabank.com)

Jana Small Finance Bank FD Rates

The bank is giving an interest rate of 2.50% on deposits that mature in the next seven to fourteen days, and a rate of 3.00% on deposits that mature in the next fifteen to sixty days. On FDs maturing in 61 to 90 days, Jana Small Finance Bank is giving an interest rate of 5.25%, and on those maturing in 91 to 180 days, it is offering an interest rate of 5.50%. The bank is giving an interest rate of 7% on deposits maturing in 181 days to one year (365 days), and a rate of 7.50% on deposits maturing in one year to two years. Deposits maturing in the next two to three years will earn interest at a rate of 7.55%, while those maturing in the next three to five years will earn interest at a rate of 7.35%. The interest rate offered by Jana Small Finance Bank is 7.25% for FDs maturing in 5 Years[1825 Days] and 6.00% for those maturing in 5 Years—10 Years.

Jana Small Finance Bank FD Rates
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Jana Small Finance Bank FD Rates (janabank.com)
ABOUT THE AUTHOR

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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