Jana Small Finance Bank Hikes Deposit Rates: Offers Up To 7% On Savings Accounts & 8.35% On FD Plus
Check out the updated interest rates offered by Jana Small Finance Bank.
Jana Small Finance Bank also known as Jana SFB has hiked their interest rates on savings bank accounts and fixed deposits. As per the official website of Jana SFB, this new interest rate was made effective from November 15, 2022. After this hike, the new revised rates will offer upto 7% per annum interest on savings bank deposits. Meanwhile, fixed deposits will earn you upto 8.35% interest per annum.
Jana Small Finance Bank Savings Account Interest Rates
According to the revised rates, customers with Savings Bank Accounts in Jana SFB can receive upto 7% interest per annum. However, this depends on the balance maintained in their savings account.
Check out the savings bank account interest rates effective from November 15, 2022:
Kindly note the following points w.r.t the interest rates offered on Savings Accounts:
For balances upto Rs 1 Lakh, 4.50% will be paid to the customer.
For balances above Rs 1 Lakh and up to 50 Lakhs, 7.00% will be paid on incremental balances. For example: If a customer maintains Rs.150,000/- in the savings account, 4.50% interest will be earned for Rs.100,000/- and 7.00% interest will be earned for the remaining Rs.50,000/-.
Similarly, for balances above Rs 50 Lakhs and upto Rs 50 Crores, 7.00% will be paid on incremental balances.
For balances above Rs 50 Crores, 6.50 % will be paid on incremental balances. That means up to Rs 50 Crores, interest will be calculated at the rate of 7% pa and above that at 6.50% pa.
Jana Small Finance Bank FD Rates
Jana SFB has several types of fixed deposit plans. However, changes were only made to interest rates offered by FD Plus and Bulk Fixed Deposits. According to these revised rates, customers can get upto 8.35% interest per annum on FD Plus and upto 8.25% interest per annum on Bulk Fixed Deposits.
Check out the Interest Rates for FD Plus Effective from November 15, 2022:
The above rate is applicable for Fixed Deposits above Rs 15 Lakhs only and is valid for deposits upto Rs 2 Crore and above. Moreover, this rate is available only for Fixed Deposits made under the FD Plus plan with no Premature Withdrawal facility.
Check out the Interest Rates for Bulk Fixed Deposits Effective from November 15, 2022:
The above interest rates are only applicable on Bulk Fixed Deposits of Rs 2 Crore & above.
Disclaimer: These interest rates were taken from the official website of Jana Small Finance Bank at the time of writing this article. Kindly refer to the website or check with the bank directly before making any investments.