This Bank Offers 9% Interest On 500 Days Special FD Tenure To Senior Citizens

Jana Small Finance Bank, a small finance bank, has recently revised its interest rates on fixed deposits of less than Rs 2 crore. The revised rates are effective from May 30, 2023, according to Jana Small Finance Bank's website.

The Bank offers FD interest rates from 3.75% to 8.50% to regular customers and 4.25% to 9% to senior citizens for a deposit tenure of 7 days to 10 years.

The bank is offering a maximum 9% interest to senior citizenson FD tenure of 366 days to 499 days, 501 Days - 2 Years and 500 days. The bank offers 6% to regular customers and 6.50% to senior citizens on a special deposit period of 5 years (1825 Days).

Interest Rates for FD: Domestic / NRO / NRE Customers: Effective from 30th May 2023

Tenure	Regular FD Interest Rate (p.a.)	Senior Citizen FD Interest Rate (p.a.)
7-14 Days	3.75%	4.25%
15-60 Days	4.25%	4.75%
61-90 Days	5.00%	5.50%
91-180 Days	6.25%	6.75%
181-364 Days	7.00%	7.50%
1 Year [365 Days]	7.25%	7.75%
366 - 499 Days	8.50%	9.00%
501 Days - 2 Years	8.50%	9.00%
> 2 Years - 3 Years	7.35%	7.85%
> 3 Year -	7.25%	7.75%
5 Years [1825 Days]	6.00%	6.50%
> 5 Years - 10 Years	6.00%	6.50%
500 Days	8.50%	9.00%

Source - Janabank.com

According to Janan Small Finance Bank, "The interest is computed based on the actual number of days in a year i.e. 365 days for a non-leap year and366 days for a leap year. The tenor of Deposit is calculated in number of days. Minimum tenure for NRE fixed deposits is 1 year and no interest rate is payable for deposits prematurely withdrawn within the period of 1 year from the date of the deposit. Only Resident Indian Senior Citizens (of 60 years and above age) are eligible for the above mentioned Senior Citizen Interest rate specified. The special rates are applicable only for Resident deposits."