Jana Small Finance Bank has announced a special anniversary Fixed Deposit Interest Rate of 8.85% for senior citizen customers and 8.15% for regular customers. These interest rates will be available for an FD of 500 days.
The interest offered on the special 500-day term deposits to senior citizens by Jana Bank is higher than the current interest rate applicable to SCSS (Senior Citizen Savings Scheme) deposits. SCSS is currently offering 8% interest rate to senior citizens. However, tax benefits offered by the SCSS scheme make it better than many fixed deposit schemes offered by banks. (Read more about SCSS scheme here)
Commenting on the announcement, “Ajay Kanwal, MD & CEO, Jana Small Finance Bank, said, “On our 5th anniversary we remain committed to serving the underserved. Our special deposit rate is to encourage more clients to experience our Banks products and services. We wish to serve the large segment of clients who would like to get fixed income from a bank.”
Also Read: SBI Senior Citizen Fixed Deposit: Time required for doubling money reduced
Jana Small Finance Bank will celebrate its fifth anniversary this year on March 28, 2023.
Jana Bank Fixed Deposit Interest Rates
|Period||Regular FD Interest Rate (p.a.)||Senior Citizen FD Interest Rate (p.a.)|
|1 year (365 Days)- 499 Days||7.25%||7.95%|
|501 Days-2 years||7.25%||7.95%|
|>2 Years -3 Years||8.10%||8.80%|
|> 3 Year – < 5 Years||7.35%||8.05%|
|5 Years [1825 Days]||7.25%||7.95%|
|> 5 Years – 10 Years||6.00%||6.70%|
|500 Days (Jana 5th year Anniversary)||8.15%||8.85%|
Also Read: SBI FD Interest Rates 2023 Go Up. Know What You Can Get with Rs 1 lakh
The bank said that the special fixed deposit rates will be available to both new and existing customers of Jana Small Finance Bank. Customers can book or invest in FDs from the comfort of their homes or offices through internet banking.