• Monthly Installment          Rs. 50/- and above in multiples of Rs. 5/-.
  • Tenure                                   6 Monthto 10 years.
  • Interest rate                        Fixed.
  • Interest application             Quarterly compounded interest.
  • Interest payouts                 On maturity
  • Premature withdrawal       Allowed with penalty.
  • Loan Facility                  Available upto 90% of Deposit and interest accumulated.
  • 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 Recurring Deposit Scheme 
    of J&K Bank?
    Recurring 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 monthly installment required to be deposited?
    You are required to deposit a monthly installment of Rs. 50/- and above in multiples of Rs. 5/-.
  • What are the tenures for which the accounts can be opened?
    You can open an account for any tenure ranging from 6 months to 10 years.
  • Is interest under this scheme applied on Simple or Compound basis?
    Interest compounded quarterly 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.