Jana Small Finance Bank Current Account

Jana Small Finance Bank Current Account

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Jana Small Finance Bank Current Account

Jana Small Finance Bank Current Account is a type of bank account that is offered to people in business and trade. Jana Small Finance Bank has an array of carefully crafted current account types for regular large corporate, companies, importers and exporters and niche industries. In this article, we will look at the various types of Jana Small Finance Bank in detail.

About Jana Small Finance Bank

Jana Small Finance Bank, erstwhile Janalakshmi Financial Services, is headquartered in Bangalore. It is one of the ten financial institutions which had received in-principle approval from Reserve Bank of India in 2015, to set up a Small Finance Bank. The bank also received the final banking license in April 2017 and started banking operations by March 2018. The bank has a range of 500 branches across 19 states of India.

Benefits of Jana Small Finance Bank Current Account

Benefits and features of opening a Jana Small Finance Bank current account are listed below:

  • Jana Small Finance Bank current account enables businesspeople and traders to make direct payments using cheques, demand drafts, or pay orders
  • Jana Small Finance Bank current account allows for prompt business transactions.
  • No limit on deposits in the Jana Small Finance Bank home branch
  • No limit on withdrawals
  • This type of current account provides an overdraft facility.
  • Jana Small Finance Bank offers internet banking and mobile banking facilities.

Jana Small Finance Bank Current Account Products

As stated above the Jana Small Finance Bank has an array of current account services; the businessman can choose any current account as per the business specific needs. The Jana Small Finance Bank offers the followings current account services.

  • Regular Current Account
  • Premium Current Account

Regular Current Account

Jana, Small Finance Bank Regular Current Account is designed to manage daily entrepreneurial transactions for all types of business units, which provides hassle-free and low cost, cash handling daily, along with convenient services like 24-hour Net Banking and Mobile Banking. With the Jana Small Finance Bank sweep facility option current account, customers can also earn high interest on their idle cash reserves.

Features

The features of the Regular Current Account are tabulated here:

Sl.NoFeaturesBenefits
1Average Quarterly BalanceRs.5000
2Sweep Facility
  • Now the entrepreneur can earn high interest on the idle funds in Current Account with Jana Small Finance Bank
  • Threshold amount to be Rs.25,000
  • Amount multiple for sweep out is Rs.5000
3Deposit Limit at BranchesRs.100000 per month
4Cash Withdrawal Limit at BranchesJan Bank Provides the Unlimited cash withdrawal with no cap on amount and number of transactions
5Debit CardRupay Platinum Debit Card with high ATM Withdrawal and POS Limit is provided for Individuals and Proprietorships

Premium Current Account

Premium current account is specially crafted for growing business. It is providing a range of customized services along with high returns on the unused funds. With this innovative sweep facility available for current accounts, customers can earn high interest on their balance.

The account gives the preferential treatment and superior benefits, like higher transaction limits adding value to the business and provide maximum returns on the hard-earned money.

Features

The features of the Premium Current Account are tabulated here:

Sl.NoFeaturesBenefits
1Average Quarterly BalanceRs.30000
2Sweep Facility
  • Now the entrepreneur can earn high interest on the idle funds in Current Account with Jana Small Finance Bank
  • Threshold amount to be Rs.50,000
  • Amount multiple for sweep out is Rs.5000
3Deposit Limit at BranchesNo charge up to Rs.10,00,000 per month
4Cash Withdrawal Limit at BranchesJan Bank Provides the Unlimited cash withdrawal with no cap on amount and number of transactions
5Debit CardRupay Platinum Debit Card loaded with features is provided for Individuals and Proprietorships

Eligibility Criteria

Both new and existing customers of the Jana Small Finance Bank can open a Regular Current Account. The types of customers who can open the regular current accounts are listed as follows:

Documents Required

The documents required to open a Jana Small Finance Bank Current Account is listed as follows:

Individuals

  • Aadhaar Card or Proof of application of Aadhaar enrolment which is not older than six months
  • PAN Card or Form 60 (In case of Form 60, one certified copy of OVD* to be submitted)
  • FATCA Declaration
  • Recent Photograph

Hindu Undivided Family

  • Aadhaar Card or Proof of application of Aadhaar enrolment which is not older than six months
  • PAN Card or Form 60 (In case of Form 60, one certified copy of OVD* to be submitted)  of HUF
  • PAN Card or Form 60 (In case of Form 60, one certified copy of OVD* to be submitted)  of Karta /existing authorized signatories)
  • Declaration from the Karta & Joint Hindu Family letter
  •  Recent Photograph of Karta/authorized signatories
  •  FATCA Declaration

Proprietorship Firms

  • KYC document of the proprietor as applicable for individuals
  • Certified copy of PAN, GIR Number, Form 60 of the firm/proprietor and FATCA declaration and any two of the following business proofs:
  • Registration certificate
  • Certificate issued by the municipal authorities under Shop and Establishment Act
  • Sales and income tax returns
  • CST/VAT/GST certificate (provisional/final)
  • Certificate  issued by Sales Tax, Service Tax, Professional Tax authorities
  • Importer Exporter Code (IEC ) issued to the proprietary concern
  • DGFT, Licence of practice issued in the name of the proprietary concern by any professional body incorporated under a statute
  • Income Tax Return in the name of the sole proprietor where the firm’s income is reflected, duly  acknowledged by the Income Tax authorities
  • Utility bills such as electricity bill, water and landline telephone bills

Partnership Firms

  • KYC documents of the partners/authorized signatories as applicable for individuals
  • Certified Copy of PAN or GIR No. of the partnership firm
  • Certified copy of the partnership deed and
  • Certified copy of the registration certificate
  •  Address proof of the firm
  •  FATCA declaration

In the case of Limited Liability Partnership

  • Certificate of Incorporation as LLP
  • Registered agreement between partners

Limited Companies

  • KYC documents of the Directors/authorized signatories as applicable for individuals
  • DIN of the Directors who are authorized signatories and
  • A certified copy of Certificate of Incorporation and
  • A certified copy of Memorandum & Articles of Association
  • List of directors (Form 32 if directors are different from AOA)
  • Board Resolution to open & operate the account
  • Certified Copy of PAN Card, GIR Number of the company
  •  Proof of address of the firm (telephone or electricity bill)
  •  An exact certified copy of Certificate of commencement of business (public limited company)
  • FATCA Declaration

Trusts/NGO

  • KYC documents of the Trustees/authorized signatories as applicable for individuals
  • Certified copy of the registration certificate
  • Certified copy of the Trust deed, Bye-Laws
  • Duly authenticated list of current Trustees  bearers on the letterhead of the entity and
  • Certified copy of the resolution for opening and operating of the account
  • Certified copy of PAN Card/GIR Number
  • Address Proof
  • Income Tax registration under section 12A (if exempted from income tax)
  • FATCA Declaration

Association/Society/Clubs

  • KYC documents of the authorized signatories as applicable for individuals
  • Certified copy of Rules & Regulations, Bye-Laws
  • Resolution of the managing body of association or body of individuals
  • Power of attorney granted to transact
  • Registration certificate in case of the registered association or society
  • Address proof of the association/society/clubs
  • Certified copy of PAN/GIR No.
  • FATCA Declaration

Government Department, Agency, Board, ULB, Local Government

Resolution/Authorization/Mandate Letter (on the letterhead) by competent authority to open account and list of authorized signatories to operate the account. If the competent authority and account opening authority is the same, the same needs to be mentioned in the Resolution, Authorization and Mandate Letter

  • KYC documents of the authorized signatories as applicable for individuals
  •  Identification of authorized signatories duly attested by the unit head
  •  Certificate of Incorporation/Registration, Bye-Laws (if applicable)
  •  PAN Card, Form 60, GIR No, Income Tax exemption letter for the year issued by IT Dept
  • Address proof Latest Telephone Bill or Electricity or any government-issued document showing the address of the unit

Applicable Fee

Charges in connection with the operation of the Jana Small Finance Bank current account and the services will be levied at the rates as indicated on the Corporation ban Jana Small Finance Bank official portal from time to time and as per the current account services offered to the businessman/trader.

Schedule-of-Charges-Current-Accounts-products

Note: The charges will be debited from the account at defined frequencies as per Jana Small Finance Bank internal policies.

Procedure to open a Jana Small Finance Bank Current Account

Persons desiring to open a Jana Small Finance Bank current account must visit the Indian bank in their locality.

  • The applicant (individual or entity) need to furnish the appropriate form of application and documents to open a Jana Small Finance Bank current account. The particulars required in the current account application form must be filled in.
  • On submission of the application form, the Relationship Manager will guide the application process.
  • The applicant can also contact the Jana Small Finance Bank Limited and the bank Customer Care Executive will fix a service appointment with the Relationship Manager to help the entrepreneur with the application process.

Apply Online

  • The entrepreneur can also apply for Jana Small Finance Bank Current Account for entity through the official website of Jana Small Finance Bank.
  • By clicking on Apply now option, the application form for the Current Account will be displayed. Provide the personal details and click on submit.
  • On submission of the application form, the Jana Small Finance Bank customer care executive will call the applicant to assist the application process.

Once the application is submitted, the applicant has to pay the initial deposit.  After the verification account will be opened in the name of the applicant. The bank manager will issue Cheque Book and all other documents.


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