• Deposit Amount                 Rs. 1000/- and above.
  • Tenure                                   1 year to 10 years.
  • Interest rate                        Fixed.
  • Interest application             Simple Interest (Discounted).
  • Interest payouts                 Monthly.
  • Premature withdrawal       Allowed with penalty.
  • A person in his/her name.
  • More than one person in their joint names.
  • Minor through parents/guardian.
  • Sole Proprietorship firms, Partnership firms
  • Private and Public Limited Companies
  • HUFs
  • Associations, Clubs, Societies, Trusts etc.
  • Application Form
  • Photograph of depositor/s (2 copies)
  • 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
  • What is the eligibility for opening an account under Monthly Yield Deposit Scheme 
    of J&K Bank?
    Monthly Yield Depositaccounts 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 an account under the Scheme?
    You can open an account under this scheme with an amount of Rs 1000 and above.
  • What are the tenures for which the accounts can be opened?
    You can open an account for any tenure ranging from 1 year to 10 years.
  • Is interest under this scheme applied on Simple or Compound basis?
    Simple Interest (Discounted) is provided under this scheme.
  • Can I withdraw my deposit prematurely?
    Yes, but penal interest, as applicable, shall be charged on such pre-mature withdrawals.