The bank is paying 7% interest on the FD of 5 years to 10 years to the customers.
Jana Small Finance Bank has introduced the new FD rates from May 7.
New Delhi. Fixed Deposit- FD of banks is an investment considered to be a safe and fixed return. This is the reason why most investments in FD are made in India, but in recent times people are getting away from it due to low interest rates. In view of this, Jana Small Finance Bank is paying huge interest to its depositors on fixed deposits. The bank has recently changed its FD interest rates. The new FD rates are effective from 7 May 2021. Major public sector banks and private banks offer fixed deposits for 7 days to 10 years to their customers. Significantly, people invest in FDs for two reasons. The first reason is low risk and the second is assured returns. Another advantage of FD is that you can withdraw your money if needed. ALSO READ: Success Story: TPA left business to take care of parents, now has a portfolio of 3000 crores Interest of 4.50% on 6 months term depositJana Small Finance Bank is offering 2.5% interest on FD maturing within 7 days to 14 days. At the same time, customers will get 3% interest on 15 days to 60 days FD. 3.75% interest will be given on FD maturing in 61 to 90 days. Customers will get interest at the rate of 4.50% on the term deposit of 3 months to 6 months. Also read: Bad banks, public-private banks will be partnered to deal with NPAs in June
6.75% interest on FD between 3 and 5 years, 0.5% higher for senior citizen The bank will pay 5.50% interest on fixed deposits maturing within 6 months to 1 year and 6.25% on FDs maturing after 1 year. At the same time, FDs less than 1 year to 3 years will give 6.50% interest. Also, you will get 6.75% interest on FD between 3 to 5 years. Customers will get interest at the rate of 7% on FDs of 5 years to 10 years. Senior citizens will get 50 basis points more interest on all these FDs. Also read: If you are buying a dream car, then keep these five things in mind; prices will benefit