Overdraft FD Facility: Many people break fixed deposits to manage capital in case of financial crisis. However, for this they also have to pay some penalty. Now with a special offer from Jana Small Finance Bank, bank customers will not need to break FD. Jana Small Finance Bank has also made available overdraft facility against FD for its customers. On this the bank will charge nominal interest rate. According to the statement issued by the bank, for this facility, bank customers will have to pay interest at the rate of 0.25 percent more than the interest received on their FD. Apart from this, loans up to 90 percent of the amount deposited in the FD account can be taken as overdraft. This offer will be available to bank customers till 31 December 2021 and will have to be applied for by 30 June 2021.
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Loan will be available without processing fee
Customers of Jana Small Finance Bank can meet their money needs without breaking their FD. Apart from this, the bank says that customers will continue to get interest on their FDs at the applicable rate. According to the information, customers can pay for overdraft in lump sum or in installments as per their convenience. Apart from this, there will be no processing fee to avail this facility and the loan can be availed in no time through simple documentation.
Minimum withdrawal of Rs 10,000
According to SFB MD and CEO Ajay Kanwal, after the lockdown opens, this facility will make it easier for customers to manage money for their business and personal needs without liquidating their deposits. According to Kanwal, in such difficult times, the decision to offer interest at just 0.25 percent more than the FD rate will prove to be very helpful. Under the overdraft FD facility of Jan Small Finance Bank, you can withdraw a minimum of Rs 10,000. Apart from this, the FD tenure should be of 180 days or more. Customers can withdraw money online or through check etc.