Jana Small Finance Bank Offers Up To 9% Interest Rates On FDs; Check The Revised Rates

Jana Small Finance Bank Fixed Deposit Rates:  Several small finance banks in the country are offering higher interest rates on saving accounts and fixed deposits compared to big banks like State Bank of India (SBI), Punjab National Bank (PNB), HDFC Bank and ICICI Bank. Jana Small Finance Bank is one of them.

The small finance bank is offering a 9 per cent interest rate on fixed deposits of 365 days.

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Jana Small Finance Bank Interest Rates On FDs

Jan Small Finance Bank has revised the interest rates on fixed deposits. the revised interest rates have come into effect from January 2. As per revesion senior citizens will get a maximum return of 9.00 per cent, while the general public will get a return of 8.50 per cent on an FD of 365 days.

- Jana Small Finance Bank is currently offering a 3.00% interest rate for FDs maturing in 7-14 days.

- The interest rate for FDs maturing in 15-60 days is 4.25%. The bank is now offering 5.0%

- The interest rate on FDs of 61-90 days is 6.5%

FDs of 91-180 days. The interest rate on deposits maturing in 365 days is 8.50 per cent, while the interest rate on FDs maturing in 181-364 days is 8.00 per cent.

Insurance cover on Deposits

All bank customers should know that they get insurance coverage up to Rs 5 lakh on their deposits if their bank defaults or files for bankruptcy. Deposit Insurance and Credit Guarantee Corporation i.e. DICGC provides the guarantee to the customer's money up to 5 lakhs. The organisation was created by the Reserve Bank of India.

Jana Small Finance Bank is a small finance bank that started operations on 28 March 2018. It has a head office in Bengaluru. It is being operated only through the license issued by the Reserve Bank of India.

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