Yes, BANYAN is a Scrabble word!

Letter values in Scrabble US: B 3, A 1, N 1, Y 4, A 1, N 1.

Is it a valid word?

BANYAN is a valid word in the official Scrabble dictionary (US), the UK Scrabble Dictionary and Words with Friends (ENABLE).

East Indian tree that puts out aerial shoots that grow down into the soil forming additional trunks
a loose fitting jacket; originally worn in India

Also: banyan tree, banian tree, indian banyan, east indian fig tree, ficus bengalensis.