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Jana Small Finance Bank Cuts Interest Rates On Short Term FDs By 25 Bps

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Jana Small Finance Bank has made interest rate revisions on fixed deposits of less than Rs 2 Cr. The DICGC-insured bank has lowered interest rates on short-term deposits of one year [365 days] and more than one year to two years by 25 basis points as of April 12, 2022. Previously, the bank offered a 6.75 percent interest rate on these deposits; however, the interest rate will now be 6.50 percent. Apart from the aforementioned two tenors, the bank maintained the remainder of the tenors' interest rates constant.

 
Jana Small Finance Bank Cuts Interest Rates On Short Term FDs By 25 Bps

Jana Small Finance Bank Fixed Deposit Interest Rates

The bank is now giving a 2.50 percent interest rate on term deposits of less than Rs 3 crore that mature in 7-14 days. Jana Small Finance Bank is currently offering a 3.00 percent interest rate on fixed deposits due in 15-60 days. Deposits maturing in 61-90 days will now fetch a 3.75 percent interest rate, while deposits maturing in 91-180 days will now pay a 4.50 percent interest rate. Jana Small Finance Bank is currently giving a 5.50 percent interest rate on deposits due in 181-364 days, and a 6.50 percent interest rate on deposits maturing in one year [365 days] and more than one year to two years. The bank is currently offering a 6.75 percent interest rate on term deposits maturing in more than 2 years to 5 years [1825 days] and a 6.00 percent interest rate on deposits due in more than 5 years to 10 years. Senior folks will continue to get a 0.80 percent rate additional over and above the standard rates.

PeriodRegular FD Interest Rate (p.a.)Senior Citizen FD Interest Rate (p.a.)
7-14 days2.50%3.30%
15-60 days3.00%3.80%
61-90 days3.75%4.55%
91-180 days4.50%5.30%
181-364 days5.50%6.30%
1 Year [365 Days]6.50%7.30%
More than 1 Year - 2 Years6.50%7.30%
More than 2 Years - 3 Years6.75%7.55%
More than 3 Years to less than 5 Years6.75%7.55%
5 Years [1825 Days]6.75%7.55%
More than 5 Years - 10 Years6.00%6.80%
Source: Bank Website. Effective from 12th April 2022

Jana Small Finance Bank Recurring Deposit Interest Rates

As of April 12, 2022, the bank is giving the following rate of interest on recurring deposits of less than Rs 2 crore maturing in 1 month to 120 months.

 
PeriodRegular RD Interest Rate (p.a.)Senior Citizen RD Interest Rate (p.a.)
More than 1 Month - 6 Months4.00%4.80%
More than 6 months to less than 12 Months5.50%6.30%
12 Months - 24 Months6.50%7.30%
More than 24 Months - 36 Months6.75%7.55%
More than 36 Months - 60 Months6.75%7.55%
More than 60 Months - 120 Months6.00%6.80%
Source: Bank Website. Effective from 12th April 2022

Story first published: Wednesday, April 13, 2022, 12:53 [IST]
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