Jana Small Finance Bank on Tuesday said it has increased interest rates on savings and fixed deposits by up to 8.50 per cent with immediate effect. inflation Rates. Senior citizens (above 60 years) will get the highest return of up to 8.5 per cent on their fixed deposits for 2-3 years.

Announcing increase in interest rates on savings accounts and fixed deposits with effect from November 15, 2022, Jana Small Finance Bank (SFB) said it is offering one of the highest interest rates in SFBs.

Jan SFB in a release on Tuesday said the lender will offer 8.35 per cent interest on deposits ranging from Rs 15 lakh to Rs 2 crore for a period of 1-2 years.

Among others, it will offer a Rate of interest 7% off on savings bank deposits for balance buckets ranging from Rs 1 lakh to Rs 50 crore.

Jan SFB offers 4.5 per cent per annum on savings bank balance up to Rs 1 lakh, which is the highest in the banking sector.

hike amid rising inflation fixed deposit rates The lender said that gives an opportunity to customers, especially senior citizens, to get inflation-beating returns from their fixed deposits.

retail inflation It stood at 6.77 per cent for the month of October, government data showed on Monday. Wholesale inflation stood at over 8 per cent.

Srinivasa Murthy, President and Head of Jana Small Finance Bank Branch Banking and Marketing said.