Exclusive Savings Account with Jana Small Finance Bank: Is it Too Good to be True?

[Gabbar.Singh]

I am evaluating the Exclusive Savings Account offered by Jana Small Finance Bank, which includes a RuPay Select Debit Card with benefits such as access to domestic and international airport lounges. Furthermore, the bank claims no non-maintenance of AMB ((Average Monthly Balance) charges. While this appears to be an attractive offer, I would appreciate information on any potential drawbacks or limitations associated with banking with Jana Small Finance Bank.

 

[Batmanbaba]

Just make sure.... It don't have any banking relationship with neerav modi, vijay mallya type of people.... These small banks are very prone to disruption..... Rbi with limited manpower and too much of banks..... Very rarely has happened as rbi has been able to stop serious issues in bank.... They have more been reactive than proactive.... Something happens and then they are out of their sleep

 

[quino]

I am evaluating the Exclusive Savings Account offered by Jana Small Finance Bank, which includes a RuPay Select Debit Card with benefits such as access to domestic and international airport lounges. Furthermore, the bank claims no non-maintenance of AMB ((Average Monthly Balance) charges. While this appears to be an attractive offer, I would appreciate information on any potential drawbacks or limitations associated with banking with Jana Small Finance Bank.

you even get a 10k Taj voucher. so i believe it's worth it if u maintain the required 3L for 3 months.

 

[FinCurious]

you even get a 10k Taj voucher. so i believe it's worth it if u maintain the required 3L for 3 months.

Criteria for taj voucher says debit card spends of 20k or above at ecom/pos transaction.
Does this count CC bill payment via debit card

 

[the_dark_knight]

following . .

 

[vine]

following . .

Don't have to comment to follow. Just click on the 'watch' at the top.

 

[vine]

Criteria for taj voucher says debit card spends of 20k or above at ecom/pos transaction.
Does this count CC bill payment via debit card

I think they also give a locker free (or may be thats for Premier account, my memory isnt good).
But yeah, it's risky as sh#t.

 

[the_dark_knight]

Don't have to comment to follow. Just click on the 'watch' at the top.

I know, but this "watch" button doesn't work for me many times, commenting on thread ensures I get notified on updates.

 

[FinCurious]

I think they also give a locker free (or may be thats for Premier account, my memory isnt good).
But yeah, it's risky as sh#t.

Raised request for appointment on friday, called customer care as well on Saturday. Got a call from Bhatinda branch but i told i am from Gurgaon. So he told will transfer your request.
I will keep the group posted when i will get complete details though i doubt there is free locker.

Update - Dropped email to their CC that nobody contacted me. Second day got the call and third day BM and one more bank employee visited my home. Took the 3lk IP check and opened the account. Locker is free but they don't have in the branch near me. So no use.

Also BM confirmed if balance not maintained for 2-3 month than account will downgrade.

Will update once get the debit card.

Update 2, Received the welcome kit after 5 days. Some images attached

 

[vsaikiran]

Raised request for appointment on friday, called customer care as well on Saturday. Got a call from Bhatinda branch but i told i am from Gurgaon. So he told will transfer your request.
I will keep the group posted when i will get complete details though i doubt there is free locker.

Update - Dropped email to their CC that nobody contacted me. Second day got the call and third day BM and one more bank employee visited my home. Took the 3lk IP check and opened the account. Locker is free but they don't have in the branch near me. So no use.

Also BM confirmed if balance not maintained for 2-3 month than account will downgrade.

Will update once get the debit card.

Update 2, Received the welcome kit after 5 days. Some images attached

What is the bin[ first 8 digits ] of your Jana Exclusive Rupay Select debit card ?

 

[hellobois]

you even get a 10k Taj voucher. so i believe it's worth it if u maintain the required 3L for 3 months.

And 20k monthly expenses for 2 months with DC. That's a mandatory eligibility criteria.

 

[hellobois]

Raised request for appointment on friday, called customer care as well on Saturday. Got a call from Bhatinda branch but i told i am from Gurgaon. So he told will transfer your request.
I will keep the group posted when i will get complete details though i doubt there is free locker.

Update - Dropped email to their CC that nobody contacted me. Second day got the call and third day BM and one more bank employee visited my home. Took the 3lk IP check and opened the account. Locker is free but they don't have in the branch near me. So no use.

Also BM confirmed if balance not maintained for 2-3 month than account will downgrade.

Will update once get the debit card.

Update 2, Received the welcome kit after 5 days. Some images attached

Please update of your account is getting downgraded.
I think in that case they will charge for locker, debit card and any other associated benefits.
This would be a big trap.

 

[FinCurious]

And 20k monthly expenses for 2 months with DC. That's a mandatory eligibility criteria.

My RM told me even if you tranfer 2lk once in any of your other account you will get it. So no need to spend anything.

 

[Swastik]

Don't have to comment to follow. Just click on the 'watch' at the top.

Hey ,this is new for me, thanks

 

[FinCurious]

Please update of your account is getting downgraded.
I think in that case they will charge for locker, debit card and any other associated benefits.
This would be a big trap.

Yes, thats with every bank. If you downgrade to lower segment than charges will be as per your new account segment.
Though I have opened 2 more accounts under family banking and total balance required is INR 3lk only all accounts combined together. Which i will maintain anyhow so can't comment on when it will downgrade.

 

[hellobois]

Yes, thats with every bank. If you downgrade to lower segment than charges will be as per your new account segment.
Though I have opened 2 more accounts under family banking and total balance required is INR 3lk only all accounts combined together. Which i will maintain anyhow so can't comment on when it will downgrade.

Great. But are you comfortable with keeping 3 lakhs+ with such a risky bank?
You are after free locker or any other benefit?
I think debit card spends are not giving proper return as well.
Pls enlighten us.

 

[FinCurious]

Great. But are you comfortable with keeping 3 lakhs+ with such a risky bank?
You are after free locker or any other benefit?
I think debit card spends are not giving proper return as well.
Pls enlighten us.

All banks are covered under DICGC 5lk insurance.
And also you can google Jana bank financials and they are not in stress.
I was mainly intrested in rupey select debit card and fd int rate of 8.75% for 1 yr.

 

[vsaikiran]

All banks are covered under DICGC 5lk insurance.
And also you can google Jana bank financials and they are not in stress.
I was mainly intrested in rupey select debit card and fd int rate of 8.75% for 1 yr.

Please share the bin of Exclusive debit card