Jana Small Finance Bank (SFB), a DICGC-insured lending institution, has increased interest rates on fixed deposits under 2 crore. The Bank made this announcement on June 15, 2022, and as a result of the amendment, the bank increased the deposit rate from 1 to 5 years. For deposits with terms from 7 days to 10 years, the bank is currently offering interest rates between 2.50% – 6.00% to the general public and 3.30% to 6.80% for the elderly.
Jana Small Finance Bank Rate FD
Jana Small Finance Bank is currently offering 2.50% interest on deposits maturing in 7-14 days and 3.00% interest on deposits maturing in 15-60 days. Jana SFB will continue to offer 3.75% interest on deposits maturing in 61-90 days and 4.50% on deposits maturing in 91-180 days. The bank will continue to offer 5.50% interest on deposits due in 181-364 days, but for deposits due in one year, Jana Small Finance Bank will now offer interest rate of 7%, up from 6.50% previously, up 50 basis points.
Deposits with a term of more than one year to two years will now earn 7.25%, up from 6.50% previously, representing a 75 basis point increase. Deposits with maturities between 2 years and 3 years will now receive 7.25% at Jana Small Finance Bank, up from 6.75% previously, up 50 basis points. Jana Small Finance Bank is currently offering a top rate of 7.35%, up from 7% previously, a 35 basis point increase on 3- to 5-year deposits. For deposits due in 5 years[1825 Days]the bank will now offer an interest rate of 7.25%, up from 6.75% previously, up 50 basis points, while for deposits with a term of 5 years – 10 years, the interest rate will be unchanged at 6, 00%.
Seniors will continue to earn an additional 0.80% rate above the regular rate. Jana Small Finance Bank offers seniors interest rates ranging from 3.30% to 6.80% on deposits with maturities from 7 days to 10 years. Seniors can get a maximum interest rate of 8.15% on deposits with a term of 3 to 5 years.
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