• A special recurring deposit variant with flexibility for depositors to deposit instalments during the month as and when available.
  •  Resident Individuals (sole or joint account)
  • Hindu Undivided Families.
  • Minor through parents/guardian.
  • A Partnership Firm, Private and Public Limited Companies, Associations, Clubs, Societies, Trusts etc.
  • Deposit Amount:

Base Installment Rs. 500/= to Rs. 100000/= in the multiples of 100.  Maximum monthly * deposit shall be subject to 10 times base installment. (*month is anniversary month)

    • Tenure: 06 months to 10 years.
    • Interest rate:  Fixed.
    • Interest application: Compounded quarterly
    • Add-ons: Special SOD facility available.

Credit Card as per eligibility.

    • Premature withdrawal: Allowed with penalty.
  • Filled in Application Form.
  • Photograph of depositor/s (2 copies)
  • Officially Valid Documents as  per KYC Norms
  • PAN Card or Form 60 or 61
  • Any other related documents as applicable to Minors, Partnership Firms, Companies, HUF’s etc
  • TDS at prevalent rate is deducted at source if Form 15G/15H not submitted.

What is the eligibility for opening an account under Flexi Recurring Deposit Scheme of J&K Bank?

Flexi Recurring Deposit  accounts can be opened by individuals , either singly or jointly, Parents/ Guardians on behalf of minors, Sole proprietorship firms,  Partnership firms,  Private and Public Limited Companies , HUFs, Associations, Societies, Trusts, etc.

What is the minimum amount required for opening account under the Fixed Deposit Scheme?

You can open an account under this scheme with a Base Installment Rs. 500/= to Rs. 100000/= in the multiples of 100.  Maximum monthly * deposit shall be subject to 10 times base installment. (*month is anniversary month)

What are the tenures for which the accounts can be opened?
You can open an account for any tenure ranging from 06 months to 10 years.
Is interest under this scheme applied on Simple or Compound basis?
Compound interest is provided under this scheme.
Is loan facility available against the deposit amount?
Special SOD facility available.
Can I withdraw my deposit prematurely?
Yes, but penal interest, as applicable, shall be charged on such pre-mature withdrawals.
What is the frequency of interest paid in this scheme?
Interest is paid at quarterly rests.