Jan Savings Account
Jan Savings Account is designed to meet all your banking needs with no commitment to maintain minimum balance in your account. You can access your account anytime, anywhere through our Mobile banking application FinoPay and access to over 1 Lac+ access points to assist you in banking. Deposit, withdraw, transfer/receive funds, shop, pay bills and receive free SMS alerts for each transaction and do much more with your account without any hassles all at nominal annual subscription charges. Enjoy banking, truly at your fingertips!
key features
- Monthly average balance requirement: Nil
- Rate of interest: Up to INR 2 lakhs is 2.75% p.a. on EOD balance paid quarterly. Earn up to 7.50% p.a by opting for Sweep account facility (T&C Apply)
- Sweep account facility with partner bank for balances over one lakh rupees
- Aadhaar seeding facility to receive LPG subsidy and other benefits directly in the account
- Free limit for AePS transactions in a month: 4 withdrawals & 2 balance enquiries (No free limit on Mini statement); thereafter Rs. 10 per transaction (applicable on Mini statement from first instance)
- Free cash deposit limit upto Rs 50,000 per month; thereafter 0.5% of the transaction amount, min Rs 5
- Free 4 cash withdrawals per month; thereafter 0.5% of the transaction amount, min Rs 5
- Free SMS alerts
- Mobile banking access to conveniently manage the account, anywhere and anytime
Annual Subscription charges for the account: Rs.249 (inclusive of GST)
Note – No Debit card will be issued with this account.
#Interest on balances in Savings Bank Account with Fino Payments Bank up to INR 2 Lakhs is 2.75% p.a. with effect from 01st May 2021.
Interest on balances in sweep account opened with Partner Bank - Up to INR 1Lakh - 3.50% p.a., over INR 1 lakh and up to INR 5 lakh - 5% p.a.,over INR 5 lakh and up to INR 10 lakh - 6% p.a.,over INR 10 lakh and up to INR 2 crore - 7% p.a.,over INR 2 crore and up to INR 5 crore - 7.10% p.a. and above INR 5 crore - 7.50% p.a. Applicable interest will be calculated on the incremental amount for the slabs w.e.f. 1st September 2023.
Interest on balances in sweep account opened with Partner Bank - Up to INR 1Lakh - 4% p.a., over INR 1 lakh and up to INR 1 crore - 6.25% p.a. and above INR 1 crore - 5% p.a. Applicable interest will be calculated on the incremental amount for the slabs w.e.f. 20th January 2022.
Interest on balances in sweep account opened with Partner Bank – Up to INR 1 Lakh - 4% p.a., over INR 1 lakh and up to INR 10 Lakh - 6.25% p.a. and above INR 10 Lakh - 6% p.a. Applicable interest will be calculated on the incremental amount for the slabs till 19th January 2022
Effective 7th Jan 2023 onwards, Interest on Balances in Fino Payment Bank Saving Account has been revised as follows :
|
Daily Closing Balance Slabs |
%ROI per annum |
|
Up to and including Rs. 1 Lakh |
2.50% |
|
Above Rs. 1 Lakh up to & including Rs. 2 Lakhs |
5.00% |
Interest payable to the customers is being revised from Quarterly to Monthly. Interest will be accrued on daily closing balance and paid to the customers at the end of every month.
*Interest on balance in Sweep Account with our Partner Bank will be as per partner bank policy & norms.
For detail Rate of Interest Please click here
Note: Interest Rates are subject to change at the sole discretion of Fino Payments Bank and Partner Bank for sweep account. Balance above INR 2,00,000 on EOD will be transferred to customer’s sweep account held with Partner Bank.
