Jana Small Finance Bank hikes interest rate on regular fixed deposits

Jana Small Finance Bank has hiked interest rates on regular fixed deposits (FDs) by 0.30 percent, effective from December 15, 2022.

Customers can now avail interest rate as high as 7.85 percent (from 7.55 percent) on two to three year deposits; while senior citizens can reap the benefit of 8.80 percent (compared to 8.50 percent earlier) on a two to three year FD, as per an official release.

Shrinivas Murty, President and Head of Branch Banking and Marketing at Jana Small Finance Bank said the bank is "fast expanding" its footprint to cater to a large and varied segment of customers.

"We believe our customer experience, sharp turn-around-time of delivery and competitive interest rates on deposits, has placed us well to meet the ever-growing needs of customers. This increase in interest rates across tenures would directly help our customers to plan their investments better and help further align returns to their financial goals," Murty added.