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Jana Small Finance Bank Offers Special Rate 9.75% on Fixed Deposit for Senior Citizens, Celebrating Republic Day

Press Trust of India  |  BENGALURU 

/ -- Jana Small Finance Bank is offering 9.75% interest on Fixed Deposit (FD) to senior citizens for one week, from January 22 to January 28, 2019, on 70thRepublic Day of India.

(Photo: )

(Photo: )

Since inception, Jana Small Finance Bank's sole purpose has been to offer value on hard-earned money of its customers. The Republic Day offer is in line with this objective.

The senior citizens will benefit from high interest rate of 9.75% on the tenure of three years. The bank is also providing Doorstep Account Opening services, so that the customers can open fixed deposits and savings accounts from the comfort of their home and workplace. Besides, it is also offering 9.25% interest rate to all its customers on three-year Fixed Deposit with no premature withdrawal.

Mr. Ajay Kanwal, MD & CEO, Jana Small Finance Bank said, "Every citizen of India has contributed towards nation building. We believe that on the occasion of the 70th Republic Day, there couldn't have been a better way of expressing our gratitude towards our senior citizens than offering value for their hard-earned money."

Jana Small Finance Bank's vision is to become the leading inclusive digitized bank, serving all customer segments and communities of an aspirational India. The bank is serving 45 lakh customers across 20 states in India. By end of 2019, its 500 microfinance storefronts will be converted into bank branches. By 2020, the bank aspires to add 40 lakh customers.

Mr. S. Vaidyanathan, a senior citizen customer of the bank, said, "I have been banking with Jana Small Finance Bank since its inception and I am truly impressed. At the age of 60 and above, most senior citizens want their savings and investments to be safe and provide steady returns. Jana Small Finance Bank is a perfect vehicle for that; it offers one of the best interest rates in the industry."

To get additional information on the offer, customers can dial-in toll free number - 18002080.

About Jana Small Finance Bank

Jana Small Finance Bank, erstwhile Janalakshmi Financial Services, is headquartered in Bengaluru. It is one of the 10 financial institutions which had received in-principal approval from RBI for setting up a Small Finance Bank in 2015.

Established in Bengaluru in 2008, it was the largest Micro Finance Institution (MFI) in India and was recognized globally as one of the world's innovative financial institutions working on the problem of financial inclusion.

Jana Small Finance Bank received a final banking license in April 2017 and started banking operations on March 28, 2018. Under the leadership of its MD & CEO, Ajay Kanwal, Jana Small Finance Bank's vision is to become the leading inclusive digitized bank serving all customer segments and communities of an aspirational India.

Currently, post-transition phase, the bank is enabling its existing 45 lakh customers across 20 states in India to access the banking services. By 2020, the bank aspires to add four million customers.

The bank has deep domain expertise in banking and financial services with the senior management team having 25+ years of average experience in the banking sector. Its current employee strength is of 15,000.

By end of 2019, Jana Small Finance Bank's 500 branches will be operational in 20 states, post-conversion of the majority of its microfinance storefronts into bank branches.

Bengaluru-headquartered Jana Small Finance Bank is regulated by the Reserve Bank of India (RBI).

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Awards and recognitions:

In 2018, Capital Finance International ( adjudged the Jana Small Finance Bank as The Best Inclusive Financial Services - India 2018 in London In 2017, JFS was featured in 'Fortune - The Top 500' as the largest corporations in India and was awarded as India's Distinctive Goodwill Brand for 2017.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, January 22 2019. 14:40 IST