Domestic Term Deposits FD Scheme

What is a Domestic Term Deposits FD Scheme?

A domestic term deposit FD scheme can be defined as a fixed term investment scheme which involves the deposit of money into an account with a financial institution. These investments usually carry a short-term maturity period, generally ranging from one month to a few years, and have varying ranges of minimum deposit requirements. Usually, such deposits offer a higher interest rate than regular liquid savings accounts. This is because of the limited investment timeframe of the deposit.

In a domestic term deposit FD, the investor is eligible to withdraw the funds only after the investment period has ended. In certain cases, the depositor is eligible for premature termination or withdrawal by giving several days’ notifications.

Further, there might also be a fee or penalty for the early withdrawal of the deposit.

Eligibility Criteria

Both existing and new Jana Small Finance Bank customers are eligible to invest in an FD scheme from the bank. Given below are customers who are eligible to open a Jana Small Finance Bank FD account:

• Individuals
• Minors
• Hindu Undivided Family
• Proprietorship Firms
• Private Limited Companies
• NGOs
• Cooperative Societies
• Unregistered and Registered Bodies
• Trusts
• Partnerships

Documents Required

Given below are the various types of documents that an applicant will be required to submit along with the duly completed and signed application form for the different types of accounts:

Individuals 

• Aadhaar Card
• PAN Card
• Recent passport size photograph of the applicant

Hindu Undivided Family

• Aadhaar Card
• PAN Card of the Karta
• PAN Card of the Hindu Undivided Family
• Declaration of Karta duly signed by all adult holders of the family
• Recent passport size photo of Karta.

Proprietorship Firms

Any two of the following documents:

• Certificate of registration
• License issued under the Shop and Establishment Act by the relevant authorities
• Income tax and sales returns
• VAT/CST/GST certificates
• Complete income tax returns of the proprietor of the firm
• Utility bills

Partnership Firms

• Attested copy of PAN card
• Attested copy of partnership deed
• Registration certificate copy
• Address proof of business

Limited Liability Partnership Firms will have to submit the following documents in addition to the ones mentioned above:

• Incorporation Certificate
• Copy of agreement between partners

Limited Companies

• DIN of authorised signatories
• Certified original copy of Incorporation Certificate
• Certified original copy of Memorandum & Articles of Association
• List of directors and board members of the firm
• Certified copy of the company PAN card
• Address proof of the firm
• Certified original copy of Commencement Certificate

Trust/NGO 

• Certified copy of Registration Certificate
• Attested copy of Trust Deed
• Attested and Authenticated list of presiding Trustees
• Attested copy of resolution for the opening and operation of the account
• Attested copy of PAN card
• Address proof
• Income tax registration certificate

Clubs/Society/Association

• Attested copy of Constitutional document
• Managing Body Resolution
• Power of attorney
• Certificate of Registration
• Address proof
• Attested copy of PAN

Government Department/ Agency/ Board/ ULB/ Local Government 

• Mandate Letter/Resolution/Authorisation on the relevant letter head provided by a competent authority
• Identification proof of authorised signatories
• Incorporation/Registration Certificate
• PAN Card

Key Highlights of Jana Small Finance Bank FD Scheme

Below are some of the key highlights of a fixed deposit account from Jana Small FInance Bank:

Highest slab rate	7.35% (for above 3 years to less than 5 years)
For 1 year	7.00%
For 2 years	7.25%
For 3 years	7.25%
For 4 years	7.35%
For 5 years	7.25%
Tax-Saving FD	7.25%

Features and Benefits

Given below are some of the features and benefits of a Jana Small Finance Bank FD account:

• Jana Small Finance Bank offers FD schemes with attractive interest rates and varying investment tenures best suited to your investment needs
• The FD scheme can be opened by visiting the branch as well as online
• There is no limit on the maximum FD investment amount
• Multiple interest payout option such as monthly, quarterly, annual, etc are available
• You can avail a loan against the account upto 85% of the deposit amount
• Easy and efficient liquidity options are available
• Nomination facility is available for this fixed deposit scheme
• You can avail of a tax benefit of up to Rs. 1,50,000 with the tax-saving FD scheme
• Partial withdrawal and auto-renewal facilities can be availed
• Senior citizens enjoy a preferential interest rate.

How to Apply for the Jana Small Finance Bank FD Scheme

Interested applicants can open a Jana Small Finance Bank FD account by visiting the nearest branch, where a Relationship Manager will guide them through the application process. You can also contact the bank call centre, where the customer care executive will fix an appointment with a Relationship Manager to guide you through the application process.

Interested applicants who want to open a Domestic Term Deposits FD with Jana Small Finance Bank can download the PDF version of the form from the official website. All they need to do is fill out the form and submit it with all supporting documents.