courtesy: VarIndia
To give financial support as many families have been affected by COVID-19, Jana Small Finance Bank Ltd has increased its Overdraft facility against fixed deposit (FD) at a nominal interest rate to all its customers across India. The interest rate is fixed on 0.25 percentage points over and above the FD rate with a utilization of 50 percent or more.
Under this facility, up to 90 per cent of the FD value can be benefit as OD. The special pricing will be available to its existing customers till 31st December 2021 and citizens are requested to apply before 30th June 2021 for the same.
Citizens can avail this facility rather then of liquidating the FD to meet their liquidity requirements. Customers can make the payment for the OD facility according to their choice, it can be in a lump sum or in instalments. Jana Small Finance Bank said that it wont be charging any processing fee for the same. This facility can be availed by providing simple documentation and quickly done.
One can avail this benefit by, the opening minimum OD FD facility amount with the bank and it should be Rs. 10,000 and FD tenure of 180 days or more. The customer can withdraw the money through any available branches of Jana Small Finance Bank Ltd through, online, cheque, etc.