Jana SFB Hikes Interest Rates On Savings Account Balance of Up To Rs 50 Lakh

Jana Small Finance Bank (SFB) has increased interest rates on saving bank accounts, which are effective as of March 4, 2022. The bank has increased the interest rate on savings bank account balances up to Rs 1 lakh by 150 basis points. The bank, on the other hand, has increased the interest rate on savings accounts with balances of more than 1 lakh and up to 50 lakhs by 100 basis points. Previously, the bank offered a 3 percent interest rate on savings account balances up to Rs 1 lakh, but after the recent change, the bank would now give a 4.50 percent interest rate. Jana Small Finance Bank is currently giving a 7% interest rate on savings account balances of more than 1 lakh rupees and up to 50 lakh rupees. The bank is presently giving a 6.50 percent interest rate on savings account balances of above 50 lakhs and up to 50 crores and more than Rs 50 crore.

Jana Small Finance Bank Old Savings Account Interest Rates

The bank was giving the following interest rates on savings accounts as of October 11th, 2021.

Savings Account Balance In Rs	Interest rate p.a.	Illustration
> 0 and upto 1 lakh	3.00%	3.00% will be paid on incremental balances above Rs. 0 & up to Rs. 1 Lakh
More than 1 lakh and Upto 10 Lakhs	6.00%	6.00% will be paid on incremental balances above Rs. 1 Lac & up to Rs. 10 Lacs
More than 10 Lakhs and Upto 50 Crores	6.50%	6.50% will be paid on incremental balances above Rs. 10 Lacs & up to Rs. 50 Crores
More than Rs. 50 Crores	6.50%	6.50 % will be paid on incremental balances above Rs. 50 Crores
Source: Bank Website, Rates are effective from 11/10/2021

Jana Small Finance Bank Savings Account Interest Rates 2022

The bank is offering the following interest rates on savings accounts as of March 4, 2022. The interest rates stated below will be based on day-end savings account balances and paid/credited to the savings account on a quarterly basis.

Savings Account Balance In Rs	Interest rate p.a.	Illustration
Upto 1 lakh	4.50%	4.50% will be paid on balances up to Rs. 1 Lakh
More than 1 lakh and Upto 50 Lakhs	7.00%	7.00% will be paid on incremental balances above Rs. 1 Lac & up to Rs. 50 Lacs
More than 50 Lakhs and Upto 50 Crores	6.50%	6.50% will be paid on incremental balances above Rs. 50 Lacs & up to Rs. 50 Crores
More than Rs. 50 Crores	6.50%	6.50 % will be paid on incremental balances above Rs. 50 Crores
Effective from 04th March, 2022. Source: Bank Website

"E.g. Ex: 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," the bank has mentioned on its website.