Recharge
Pay Bills
Fee Collections
Pay Taxes
Net Banking
J&K Bank adopts repo rate based lending rates
- Srinagar
- 15 Oct 2019
Move to benefit borrowers
J&K Bank has adopted RBI Policy Repo Rate as External Benchmark based Lending Rate for all floating rate personal or retail loans (housing, auto etc.) and floating rate loans to Micro and Small enterprises w.e.f 01.10.2019. Notably the external Benchmark Rate Linked to RBI policy repo rate (RLLR) has been fixed at 8.60%. The reset of repo Linked lending rate (RLLR) shall be once in three months. This will benefit the borrowers of the bank availing floating rate loans under housing, auto and MSE sectors.
Meanwhile one year MCLR of the bank has been cut by 5 bps w.e.f 10.10.2019 and has been fixed at 8.65%.
