Jan Small Finance Bank is offering overdraft facility to meet the business and personal needs of the customers. With this, money can be taken as a loan from the bank without breaking the FD.
Many people are struggling with financial problems during the Corona period. In such a situation, many people are prematurely breaking their invested money like Fixed Deposit (FD) etc. to meet the needs. Due to which they are suffering. In such a situation, Jan Small Finance Bank has come up with a special facility for the convenience of the customers. Whose name is Overdraft (OD). Under this service, you can borrow money from the bank in emergency without breaking the FD.
The time limit for overdraft (OD) facility has been extended by the bank. Now the existing customers of the bank can take advantage of this facility till December 31, 2021. For this, they have to apply before 30 June 2021. Instead, they will have to pay a nominal interest. A customer can take an overdraft amount up to 90 per cent of the FD value. The bank has also issued a statement in this regard. In which it said that with the use of interest rate 50 percent or more on this facility, 0.25 percentage points more than the FD rate will have to be paid.
No processing fee
Customers can pay as per their choice for overdraft facility. They can pay the amount in lump sum or in installments if they want. Jan Small Finance Bank will not charge any processing fee for this. Apart from this, customers will not face any problem to take advantage of this service, they can take advantage of this facility immediately by showing the necessary documents.
Who can take advantage of overdraft
The minimum amount of overdraft on FD is Rs 10,000. The FD tenure should be 180 days or more to avail this facility. Customers can withdraw money through any of the available channels of Jana Small Finance Bank like online, check etc.
Customers will not be burdened
According to the bank, the overdraft facility will help the customers to meet their needs. For this they will not need to break their FD. Offering a minimum rate of 0.25 percent on the FD rate will not burden the customers. Along with this, they will also be able to keep their investment safe.
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