Summary : Jana Small Finance Bank Limited’s official retail fixed-deposit schedule, checked on 13 November 2026, showed rates effective from 6 August 2026 for deposits below ₹3 crore. The regular rate ranges from 3.50% for 7–14 days to 8.00% for more than two years up to three years; the corresponding published resident senior-citizen rate for that highest regular slab is 8.30%. For more than three years up to five years the table shows 7.77% for other eligible resident depositors and 8.00% for eligible esident senior citizens. Senior enhancement is not uniform across all tenures: no additional senior rate is shown for 7–180 days, and published additions for longer slabs vary. This article concerns the genuine retail callable term deposit, not Jana’s FD Plus non-callable bulk product, tax-saver deposit, recurring deposit or sweep arrangement. The bank states that early closure uses the lower of the contracted-tenure rate or the booking-date rate for the actual period held, followed by a 1% premature-withdrawal penalty; no interest is payable if closure occurs within seven days. Interest is taxable. For resident bank interest during Tax Year 2026-27, section 393 of the Income-tax Act, 2025 sets the TDS threshold at ₹50,000 for a person other than a senior citizen and ₹1,00,000 for a senior citizen, subject to statutory conditions. DICGC aggregates principal and interest across all deposits in the same right and capacity at the bank and insures up to ₹5 lakh.
- Official Retail Callable Rates Checked on 13 November 2026
- Product Identity: Retail Callable FD, Not FD Plus
- Premature Withdrawal Reprices the Deposit Before Applying the Penalty
- Illustration of method, not a closure quotation
- Payout Frequency and Day Count Affect Cash Flow
- Tax and TDS for Tax Year 2026-27
- Senior product rate and senior TDS threshold are separate
- DICGC Cover Is Per Depositor, Per Bank, in the Same Capacity
- Booking and Review File
- Frequently Asked Questions
- What was the highest regular retail rate shown by Jana SFB when checked?
- Does exactly two years receive the 8.00% rate?
- Is the senior addition always 0.50%?
- How is premature interest calculated?
- Is any interest paid if a resident FD is closed within seven days?
- What are the resident bank-interest TDS thresholds for Tax Year 2026-27?
- Does DICGC insure each Jana FD separately for ₹5 lakh?
- Key Takeaways
Official Retail Callable Rates Checked on 13 November 2026
The bank’s official interest-rate page identified the retail Domestic/NRO/NRE schedule as effective from 6 August 2026 and stated that the card rates apply to deposits below ₹3 crore. This guide extracts the resident callable slabs. Rates can change without prior notice, so the live page, booking confirmation and deposit receipt should be saved on the date funds are accepted. The table is not a ranking, forecast or recommendation.
| Tenure | Regular rate p.a. | Resident senior rate p.a. |
|---|---|---|
| 7–14 days | 3.50% | 3.50% |
| 15–60 days | 4.25% | 4.25% |
| 61–90 days | 4.75% | 4.75% |
| 91–120 days | 5.00% | 5.00% |
| 121–180 days | 6.00% | 6.00% |
| 181–270 days | 6.50% | 7.00% |
| 271–366 days | 7.00% | 7.50% |
| 367 days–2 years (730 days) | 7.30% | 7.80% |
| More than 2–3 years (1095 days) | 8.00% | 8.30% |
| More than 3–5 years (1825 days) | 7.77% | 8.00% |
| More than 5–10 years | 6.50% | 7.00% |
The exact boundary matters. A deposit of 730 days is in the 367-day-to-two-year slab, while the 8.00% general rate starts only above two years and runs to 1095 days. The senior rate is 8.30% in that slab, not a uniform 0.50 percentage-point addition to every rate. The bank states that only resident Indian senior citizens aged 60 or above are eligible for the senior schedule and that the special rates apply only to resident deposits.
Product Identity: Retail Callable FD, Not FD Plus
Jana’s retail schedule is a term-deposit product below ₹3 crore for the displayed card rates. It is distinct from FD Plus, which the bank labels non-callable and publishes under a separate bulk-rate table. A customer should verify the product name, amount slab, callable status, tenure, payout and renewal instruction on the receipt. A rate visible in the FD Plus table cannot be imported into a smaller callable deposit, and a callable feature should not be assumed for a non-callable product.
The same webpage also contains NRE and NRO terms, but residence matters. NRE deposits have a minimum one-year tenure and the bank states that no interest is paid if an NRE deposit is prematurely liquidated within one year. This article’s early-closure discussion is for a resident callable deposit. A depositor whose residential status changes should notify the bank and obtain advice under the applicable foreign-exchange and tax rules.
Premature Withdrawal Reprices the Deposit Before Applying the Penalty
The bank states that premature interest is not paid at the original contracted rate. The applicable rate is the lower of: the rate for the original contracted tenure, or the rate prevailing on the booking date for the tenure for which the deposit actually remained with the bank. The bank then applies a 1% premature-withdrawal penal rate. This sequence prevents a customer from simply deducting one percentage point from the headline booked rate.
Illustration of method, not a closure quotation
Assume a deposit booked for three years is closed after 200 days. The bank compares the contracted-tenure rate with the 181–270-day rate that prevailed on the original booking date, selects the lower rate and reduces it by the 1% penalty. It then calculates interest for the actual days held, taking account of any payout already made. The authenticated closure amount can differ because of booking date, amount, payout frequency, lien, tax deduction and rounding. No interest is payable if the deposit is withdrawn within seven days.
| Event | Published rule | Depositor control |
|---|---|---|
| Maturity | Booked rate and payout terms govern | Match receipt, maturity value and credit |
| Premature closure after minimum period | Lower applicable rate for actual period, less 1% penalty | Request bank calculation before authorising |
| Closure within seven days | No interest payable | Treat liquidity plan accordingly |
| Non-cumulative payout | Simple-interest basis; scheduled payout dates apply | Reconcile payouts and tax credits |
| FD Plus | Separate non-callable bulk product | Do not mix rate or withdrawal terms |
Payout Frequency and Day Count Affect Cash Flow
Jana states that interest is computed using the actual number of days in the year: 365 for a non-leap year and 366 for a leap year. For non-cumulative deposits, interest is calculated on a simple-interest basis. Published payout dates are the first of every month for monthly interest, the first of every quarter for quarterly interest, 1 October and 1 April for half-yearly payouts, and 1 April for annual payouts, irrespective of booking date.
A cumulative deposit and a periodic-interest deposit can produce different timing and effective outcomes even when the nominal card rate is similar. The receipt should be checked for payout frequency, maturity instruction and account credit details. Auto-renewal, if selected, normally creates a new deposit on then-current terms rather than extending the old rate. Loan, lien, nomination and survivor instructions may affect access but do not enlarge deposit insurance.
Tax and TDS for Tax Year 2026-27
Interest on a resident fixed deposit is taxable under the applicable provisions and tax regime. TDS is a collection mechanism, not the final tax and not an exemption threshold. For interest credited or paid on or after 1 April 2026, section 393 of the Income-tax Act, 2025 applies. Table item 5(ii) sets a threshold of ₹1,00,000 for a senior citizen and ₹50,000 for a person other than a senior citizen when the payer is a banking company. The threshold is tested on aggregate covered interest and, where core banking is used, should not be treated as a separate limit for each branch or deposit receipt.
The rate is the rate in force; official departmental guidance describes resident bank-interest withholding generally at 10% when applicable, subject to PAN and statutory conditions. Once the threshold is crossed, the deduction mechanism applies to the interest in accordance with the section, not only to the excess over the threshold. A valid lower or nil-deduction certificate or eligible declaration may alter withholding, but it should not be submitted without satisfying the legal conditions. The depositor should reconcile bank certificates, Form 26AS, AIS and the return.
Senior product rate and senior TDS threshold are separate
The bank’s resident senior rate begins with age and residence eligibility under its product terms. The income-tax threshold depends on the statutory senior-citizen definition for the relevant tax provision. Rate eligibility does not decide declaration eligibility or final tax. The depositor’s total income, tax regime, PAN, residence and interest from all accounts should be reviewed separately.
DICGC Cover Is Per Depositor, Per Bank, in the Same Capacity
DICGC covers fixed, savings, current and recurring deposits at insured banks. The maximum is ₹5 lakh for principal and accrued interest together for one depositor at one bank in the same right and same capacity. Deposits at every branch of Jana Small Finance Bank held in that capacity are aggregated. Splitting ₹10 lakh into several receipts or branches does not create multiple ₹5 lakh limits.
Genuinely different legal rights and capacities may be separately assessed under DICGC rules, and joint-account ownership combinations and order matter. Deposits at different banks receive separate limits. Insurance does not guarantee the contracted interest rate, immediate access, or protection above the statutory ceiling. When measuring exposure, projected accrued interest should be included rather than comparing the ₹5 lakh limit only with principal.
Booking and Review File
- Save the official rate table effective on the actual booking date.
- Check the exact day boundary, amount below ₹3 crore and resident status.
- Confirm callable product name, payout frequency, maturity and renewal instructions.
- Obtain an authenticated premature-closure amount before breaking the deposit.
- Track aggregate annual bank interest for section 393 withholding and return reporting.
- Aggregate principal and accrued interest across all same-capacity Jana deposits for DICGC review.
Frequently Asked Questions
What was the highest regular retail rate shown by Jana SFB when checked?
The official table effective 6 August 2026 showed 8.00% for more than two years up to three years; the eligible resident senior rate for that slab was 8.30%.
Does exactly two years receive the 8.00% rate?
No. Exactly 730 days falls in the 367-day-to-two-year slab, shown at 7.30% regular and 7.80% resident senior. The 8.00% slab begins above two years.
Is the senior addition always 0.50%?
No. The official table shows no addition for 7–180 days and a 0.30 percentage-point difference for the more-than-two-to-three-year slab.
How is premature interest calculated?
The bank uses the lower of the contracted-tenure rate and the booking-date rate for the actual period held, then applies the published 1% penalty.
Is any interest paid if a resident FD is closed within seven days?
The bank’s published retail terms state that no interest is payable for premature withdrawal within seven days.
What are the resident bank-interest TDS thresholds for Tax Year 2026-27?
Section 393 sets ₹1,00,000 for a senior citizen and ₹50,000 for another person, subject to all statutory conditions.
Does DICGC insure each Jana FD separately for ₹5 lakh?
No. Principal and interest across all deposits in the same right and capacity at Jana Small Finance Bank are aggregated, with one ₹5 lakh ceiling.
Key Takeaways
- The official retail table checked on 13 November 2026 was effective from 6 August 2026.
- The 8.00% regular and 8.30% senior rates apply only above two years through three years.
- Premature closure reprices to the actual period and then applies the 1% penalty.
- Section 393 governs resident bank-interest TDS for Tax Year 2026-27.
- DICGC’s ₹5 lakh ceiling combines principal and interest across same-capacity deposits at the bank.
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Disclaimer: This article is a neutral educational summary of Jana Small Finance Bank Limited’s resident retail callable fixed-deposit information and official tax, RBI and DICGC material checked on 13 November 2026. It is not investment, deposit, legal, tax or financial advice; it does not recommend Jana Small Finance Bank, any amount, tenure, payout option, premature closure, declaration, concentration level or alternative product, and it does not rank banks or predict interest rates, inflation, liquidity, bank performance, regulatory action or tax law. The official webpage displayed retail rates effective from 6 August 2026 when checked, but the bank states that rates may change without prior notice. The applicable rate and terms depend on the booking date, amount, exact number of days, residence, age, product variant, payout choice, lien, nomination, renewal instruction and authenticated receipt. The premature-withdrawal illustration is not a bank quotation; actual proceeds can differ after day count, earlier payouts, penalty, TDS and rounding. Tax treatment depends on residence, age, PAN, aggregate interest, total income, tax regime, declarations, certificates and the law and rates in force when interest is credited or paid; TDS is not final tax. DICGC insurance is statutory, conditional and aggregated by right and capacity, and it does not insure each receipt separately or guarantee immediate access. Depositors should verify current terms directly with the bank and obtain qualified tax and financial advice for their circumstances. TaxGuru accepts no responsibility or liability for loss of interest, penalty, tax demand, uninsured balance, access delay, renewal outcome, rate change, calculation difference, bank action or any other consequence arising from reliance on this article, incomplete information or later changes in product terms, law, regulation, tax rates or system treatment.
