how to open fd in jana small finance bank?
goossensauthorHow to Open an FD with Jana Small Finance Bank
Jana Small Finance Bank is a leading player in the Indian banking sector, offering a wide range of financial products and services. One of the most popular products among its clients is the Fixed Deposit (FD) scheme. FD is a popular savings instrument, which allows customers to earn interest on their hard-earned money. In this article, we will guide you through the process of opening an FD account with Jana Small Finance Bank.
1. Selecting the right FD term
The first step in opening an FD account is to choose the term for which you want to invest. Jana Small Finance Bank offers FD terms ranging from 7 days to 60 months. You can choose the term that best suits your needs and investment horizon.
2. Determining the deposit amount
Once you have selected the FD term, you need to decide on the amount you want to deposit. The minimum deposit amount for Jana Small Finance Bank's FD scheme is ₹1000. You can deposit any multiple of ₹1000 after dividing the term duration by 365 days.
3. Opening an account with Jana Small Finance Bank
To open an FD account with Jana Small Finance Bank, you need to visit their branch or log on to their website and mobile application. You will need to provide your personal and banking details, such as your address, telephone number, and bank account details. Additionally, you will need to provide your passport-size photo and sign the FD application form.
4. Choosing the FD rate
Jana Small Finance Bank offers competitive interest rates on its FD accounts. The interest rate is determined based on the FD term and current market rates. As a general rule, the longer the FD term, the higher the interest rate. It is essential to research and compare the interest rates offered by other banks and financial institutions to ensure that you are getting the best deal.
5. Opening a savings account
In most cases, to open an FD account, you will first need to open a savings account with Jana Small Finance Bank. This is because FD funds need to be deposited in an existing bank account. You can open a savings account at the same time as your FD, which will make managing your finances more convenient.
6. Deposit the funds
Once you have completed all the necessary steps, you can deposit the funds in your FD account. This can be done at the bank's branch or through their online and mobile banking channels. Ensure that all the necessary documents and identity proof are available before depositing the funds.
7. Tracking your FD investment
After your FD funds are deposited, you can track the progress of your investment online or through the bank's mobile application. You can view the current balance, interest accrued, and the remaining maturity value. This will help you stay informed about the performance of your investment and make wise financial decisions.
Opening an FD account with Jana Small Finance Bank is a straightforward process that requires a few simple steps. By following these guidelines, you can enjoy the benefits of a safe and secure investment with competitive interest rates. Remember to research and compare the different FD schemes offered by other banks and financial institutions to find the best fit for your needs and investment horizon.