Jana Small Finance Bank Launches Current Account With Unique Auto-Sweep Facility

BENGALURU, January 8, 2019 /PRNewswire/ --

- Earn interest up to 8.5% on current accounts 

- Doorstep Account Opening  

Jana Small Finance Bank has launched Current Account with Auto-Sweep facility. The facility will enable bank's existing and potential new customers to auto sweep-in and sweep-out the idle funds in the current account to Sweep Fixed Deposit and earn high interest. For a tenor of 365 days on sweep deposit, the customers will be able to earn interest of 8.5 percent.

     (Photo: https://mma.prnewswire.com/media/805541/JSFB_Current_Account.jpg )

Since inception, Jana Small Finance Bank's sole purpose has been to offer value on hard-earned money of its customers. In line with this purpose, Jana has been striving to provide products and services that are truly designed by keeping customers in mind.

Rabin Stephen, EVP & Head - MSE (Micro and Small Enterprise) of Jana Small Finance Bank said, "All our products are designed to give the best returns to our customers and Current Account with Auto-sweep facility is no exception. It will enable current account holders to earn up to 8.5% interest on the idle funds while providing the flexibility of using the funds when the need in business arises."

Currently, Jana Small Finance Bank is offering an interest rate of 9% on Regular Fixed Deposit and 9.6% on senior citizen Fixed Deposit. Besides, the bank is offering 9.25% interest rate on Fixed Deposit with no premature withdrawal. 

About Jana Small Finance Bank:  

Jana Small Finance Bank, erstwhile Janalakshmi Financial Services, is headquartered in Bengaluru. It is one of the 10 financial institutions which had received in-principal approval from RBI for setting up a Small Finance Bank in 2015.

Established in Bengaluru in 2008, it was the largest Micro Finance Institution (MFI) in India, and was recognized globally as one of the world's innovative financial institutions working on the problem of financial inclusion.

Jana Small Finance Bank received final banking license in April 2017 and started banking operations on March 28, 2018. Under the leadership of its MD & CEO, Ajay Kanwal, Jana Small Finance Bank's vision is to become the leading inclusive digitized bank serving all customer segments and communities of an aspirational India.

Currently, post transition phase, the bank is enabling its existing 45 lakh customers across 19 states in India to access the banking services. By 2020, the bank aspires to add four million customers.

The bank has deep domain expertise in banking and financial services with the senior management team having 25+ years of average experience in banking sector. Its current employee strength is of 15,000+.

Bengaluru-headquartered Jana Small Finance Bank is regulated by the Reserve Bank of India (RBI).

For more details, please visit - https://www.janabank.com/

Awards and recognitions  

• In 2018, Capital Finance International (CFI.co) adjudged the Jana Small Finance Bank as the The Best Inclusive Financial Services - India 2018 in London 
• In 2015, Palladium inducted Janalakshmi Financial services into the 2015 Palladium Balanced Scorecard Hall of Fame 
• In 2016, VC Circle awarded JFS with the 'Best Financial Services firm in India'  
• In 2017, JFS was featured in 'Fortune - The Top 500' as the largest corporations in India and was awarded as India's Distinctive Goodwill Brand for 2017. In the same year, CNBC awarded JFS for Best Financial Sector Transaction ADB Private Sector 

Media Contact:
Girish Jaggi
+91-7045026522
[email protected]
Senior Associate
Genesis Burson-Marsteller