Deposit Type Rate of Interest Per Annum w.e.f. 11.07.2020
Revised
Domestic/NRO/ NRE Rupee Savings Bank Deposits 2.90%

Interest Rates on Domestic Term Deposits of less than Rs. 2.00 Crore w.e.f April 11, 2024

Maturity Period Deposit Type Current Interest Rates per Annum Revised Interest Rates per Annum w.e.f April 11, 2024

7 days to 30 days

Domestic/NRO

3.50%

3.50%

31 days to 45 days

Domestic/NRO

3.50%

3.50%

46 days to 90 days

Domestic/NRO

4.60%

4.60%

91 days to 180 days

Domestic/NRO

4.75%

4.75%

181 days to 270 days

Domestic/NRO

5.75%

5.75%

271 days to  Less than 1 Year

Domestic/NRO

6.00%

6.00%

1 Year to  less than 2 years

Domestic/NRO/NRE

7.10%

7.05%

2 years to less than 3 years

Domestic/NRO/NRE

7.00%

7.00%

3 years to less than 5 years

Domestic/NRO/NRE

6.50%

6.50%

5 years to 10 years

Domestic/NRO/NRE

6.50%

6.50%

  • The above rates are applicable for fresh deposits and renewal of maturing deposits for amounts less than Rs 2.00 Crores. The minimum contract period of NRE deposits is 1 year.
  • Domestic Term Deposits of Senior Citizens of over 60 years of age shall continue to earn 0.50 % additional rate across all maturities.



The Interest rates applicable for Withdrawable Term Deposits w.e.f  May 11, 2024 are as under:

Maturity Period

Deposit Type

Current Interest Rates per Annum

Revised Interest Rates per Annum w.e.f May 11,2024

7 days to 30 days

Domestic/NRO

4.75%

4.75%

31 days to 45 days

Domestic/NRO

4.75%

4.75%

46 days to 90 days

Domestic/NRO

5.00%

5.50%

91 days to 180 days

Domestic/NRO

6.00%

6.00%

181 days to 270 days

Domestic/NRO

6.50%

6.50%

271 days to less than 1 Year

Domestic/NRO

6.75%

6.75%

1 Year to less than 2 years

Domestic/NRO/NRE

7.00%

7.00%

2 years to less than 3 years

Domestic/NRO/NRE

6.50%

6.50%

3 years to less than 5 years

Domestic/NRO/NRE

6.25%

6.25%

5 years to less than 10 years

Domestic/NRO/NRE

6.00%

6.00%

    • The above rates are applicable for fresh term deposits and renewal of maturing term deposits for amounts of 2.00 Crore to less than 5.00 Crore .The minimum contract period of NRE term deposits is 1 year.
    • Domestic Term of Senior Citizens of over 60 years of age shall continue to earn additional interest rate of 0.50% across all maturities in this segment.

 

The Interest rates applicable for Non-Withdrawable Term Deposits w.e.f  April 11, 2024 are as under:

 

Maturity Period

 

Deposit Type

Revised Interest Rates per Annum   (Non-Withdrawable)

 

Existing Rate of Interest

 

Revised  Rate of interest w.e.f  April 11, 2024

91 days to 180 days

Domestic/NRO

6.10%

6.10%

181 days to 270 days

Domestic/NRO

6.60%

6.60%

271 days to less than 1 year

Domestic/NRO

6.85%

6.85%

1 year to less than 2 years

Domestic/NRO/NRE

7.10%

7.10%

2 year to less than 3 years

Domestic/NRO/NRE

6.60%

6.60%

  • The minimum contract period of NRE Term Deposits is 1 Year.

BASE RATE 9.25% w.e.f. May 10, 2024

PLR 14.75% w.e.f. May 10, 2024

MCLR

Maturity Period

MCLR
w.e.f. April 10, 2024
w.e.f. May 10, 2024
Overnight

8.05

8.00

One month

8.15

8.10

Three months

8.35

8.30

Six months

8.65

8.60

One year

8.80

8.75

Two years

9.25

9.20

Three Years

9.30

9.25

 

Housing Loan Repo Linked Lending Rate (HLRLLR)

Existing HRLLR

Revised HRLLR w.e.f April 10 2024

HLRLLR-9.10%

(Policy Repo Rate 6.50%+Spread 2.60%)

HLRLLR-9.10%

(Policy Repo Rate 6.50%+Spread 2.60%)

 

 

 

 

Following schedule will be followed for arriving at applicable MCLR of the loan:

Floating rate Loans with reset linked to review of MCLR
Loan tenor/ Residual Loan Tenor Applicable MCLR
Upto& including 1 month 1 month MCLR
above 1 month upto& including 3 months 3 month MCLR
above 3 month upto& including 6 months 6 month MCLR
above 6 months 1 year MCLR
For all kinds of fund based working capital facilities including ad-hocs/ TODs applicable MCLR will be 1 year MCLR

 

Applicable MCLR in case of fixed rate loans
Loan tenor/ Residual Loan Tenor Applicable MCLR
Upto& including 1 month 1 month MCLR
above 1 month upto& including 3 months 3 month MCLR
above 3 month upto& including 6 months 6 month MCLR
above 6 months upto & including 1 year 1 year MCLR
Above 1 year upto & including 2 year 2 year MCLR
Above 2 years 3 year MCLR
The interest rate however will remain fixed for entire tenor of loan

Reset linked to date of disbursement/ renewal/ review of credit facility
In case of loans with reset clause, applicable MCLR will be determined by the frequency of reset prescribed in the sanction letter for the particular loan and will be applicable as per below structure:-


Reset    Frequency    from   date    of    1st                   disbursement/
renewal/ review

Applicable MCLR

1 Month

1 month MCLR

3 Month

3 month MCLR

6 Month

6 month MCLR

1 year

I Year MCLR


INTEREST RATE STRUCTURE

 

Scheme/ Segment Applicable Interest Rate  Fixed/Floating
Agriculture & Allied Activities     
Up to Rs.15.00 lacs 1 Year MCLR + 1.50% Floating
Rs.15.00 lacs and above Applicable MCLR + Spread (As per internal Rating Grade)
   
J&K Bank Loan Scheme for Farmer Producer Organizations (FPOs)  
Up to Rs.15.00 lacs 1 Year MCLR + 1.50% Floating
Rs.15.00 lacs and above Applicable MCLR + Spread (As per internal Rating Grade)
     
Kisan Dost Finance Scheme 1 Year MCLR+2.00% Floating
     
Other Consumer Loans  3 Year MCLR+3.00% Fixed
     
JK Bank Laptop/PC Finance  3 Year MCLR+2.50% Fixed
     
JK Bank Solar Lighting & Photo Voltaic Finance 3 Year MCLR+3.00% Fixed
     
J&K Bank Personal Consumption Loan  3 Year MCLR+3.00%  Fixed
to 
3 Year MCLR+4.00%
     
J&K Bank Aasayish Finance Scheme    
Up to Rs.2.00 lacs 3 Year MCLR+2.50% Fixed
Rs.2.00 lacs and above 3 Year MCLR+4.50% Fixed
Festival Advance Scheme 3 Year MCLR+3.50% Fixed
     
Cash Credit scheme for Salaried Employees 1 Year MCLR+3.50% Fixed
     
Modular Kitchen Finance    
For Salaried Employees 3 Year MCLR+3.00% Fixed
For Others 3 Year MCLR+3.50% Fixed
     
J&K Bank High density plantation Scheme for Apple, Walnut, Almond, Cherry, Mango, Litchi, Olive etc.    
Upto Rs.15.00 lakhs  1 Year MCLR+1.50% Fixed
Above Rs.15.00 Lakhs Applicable MCLR + Fixed
Spread (As per internal Rating Grade)
Sher-e-Kashmir Employment & Welfare Programme for the Youth of J&K (Seed Capital Fund Scheme)    
For credit facilities (both WC & TL) sponsored by JKEDI 1 Year MCLR+0.50% Fixed
Loan Amount sanctioned by the Bank in addition to credit facilities sponsored by JKEDI   1 Year MCLR+3.50% Fixed
     
Centrally Sponsored scheme for integrated development of small Ruminants & rabbits    
Upto Rs 2 lacs 1 Year MCLR +1.25% Floating
Above Rs 2 lacs & Upto Rs 5.00 lacs 1 Year MCLR +1.75% Floating
Above Rs 5.00 lacs 1 Year MCLR +2.25% Floating
     
J&K Bank Mini Sheep Farm Scheme 1 Year MCLR+1.50% Floating
     
Loans and advances to Commercial Real Estate Sector (CRE)/ J&K Bank Commercial Premises Finance scheme    
Less than Rs.15.00 lacs 1 Year MCLR+3.25% Floating
15 lacs and above Applicable MCLR + Spread (As per internal Rating Grade)
     
     
Differential Rate of Interest 4% Fixed
     
JK Bank Loan against Gold and Jewellery     
Upto Rs 10 Lakhs 1 Year MCLR+2.00% Floating
Above Rs 10 Lakhs 1 Year MCLR+1.50% Floating
     
J&K Bank Help Tourism Scheme 3 Year MCLR Fixed
     
Agriculture Infrastructure Fund    
Upto Rs. 2 Crores 6 Month MCLR+1% (Subject to Maximum of 9%) Floating
Above Rs. 2 Crores 6 Month MCLR + Spread as per Internal Rating Floating
     
Integrated Dairy Development/ Poultry Development/ Sheep Development/ Feed & Fodder Development Scheme     
Upto Rs.15.00 lakhs  1 Year MCLR+2.00% Floating
Above Rs.15.00 Lakhs 1 Year MCLR + Spread (As per internal Rating Grade)
   
PM Formalisation of Micro Food Processing Enterprises (PMFME) Scheme  
Upto Rs.15.00 lakhs 1 Year MCLR+1.50% Floating
Above Rs.15.00 Lakhs 1 Year MCLR + Spread (As per internal Rating Grade)

External Benchmark/ Repo Linked Lending Rate (RLLR)

Existing RLLR

Revised Rate w.e.f  April 10,2024

RLLR-9.45% (Policy Repo Rate 6.50%+spread 2.95%)

RLLR-9.45% (Policy Repo Rate 6.50%+spread 2.95%)

 

 

Segment/Scheme Applicable Interest Rate Fixed/ Floating
Micro Small & Medium Enterprises (MSME)    
Up to Rs. 15.00 lacs RLLR+2.50% Floating
Rs.15.00 lacs & above RLLR + Spread (As per internal rating) Floating
     
Trade    
Up to Rs. 15.00 lacs RLLR+3.00% Floating
Rs.15.00 lacs & above RLLR + Spread (As per internal rating) Floating
     
Animal Husbandry Infrastructure Development Fund (AHIDF)    
For MSME's  RLLR+1.50% Floating
For All others RLLR + Spread (As per internal rating) Floating
     
J&K Bank Health Plus Scheme RLLR+2.00% Floating
     
J&K Bank Scheme for Financing Women Entrepreneurs    
Up to Rs. 15.00 lacs RLLR+2.50% Floating
Rs.15.00 lacs & above RLLR + Spread (As per internal rating) Floating
     
PM Street Vendor’s Atma Nirbhar Nidhi (PM SVANidhi) RLLR+2.75% Floating
     
Stand Up India Scheme    
Up to Rs. 15.00 lacs RLLR+1.50% Floating
Rs.15.00 lacs & above RLLR + Spread (As per internal rating but shall not exceed 3.50%) Floating
     
Housing Loans(excluding Housing Loans under CRE & Home Loan-Top Up Finance Scheme) HLRLLR -35 BPSToHLRLLR+75 BPS  Floating
 
     
Housing Loans under CRE  RLLR+3.50% Floating
     
Home Loan-Top Up Finance Scheme  RLLR+2.00% Floating
     
Car Loans (Fresh Cars)     
For Borrowers Opting for Floating Rate    
Individual(s)/ Firms/ Companies/ other Non-Individual Entities RLLR+0.75% Floating
     
For Borrowers Opting for Fixed Rate    
Individual(s)/ Firms/ Companies/ other Non-Individual Entities RLLR + 0.25% Fixed
     
Car Loans (2nd Hand Cars)     
For a period up to 4 years RLLR +3.75% Fixed
For a period exceeding 4 years RLLR +4.75% Fixed
     
Education Loans     
Up to Rs. 7.50 lakhs RLLR+ 2.00% Floating
Above 7.50  lakhs  RLLR +1.50% Floating
     
     
     
JK Bank Contractor Finance Scheme    
Up to Rs.15.00 lacs RLLR +2.50% Floating
Rs.15.00 lacs & above RLLR + Spread (As per internal rating) Floating
     
J&K Bank Oil Tanker Finance Scheme  RLLR +1.00% Floating
     
Bank finance for sale & manufacture of Gold ornaments/ Jewellery     
Up to Rs.15.00 lacs RLLR +3.50% Floating
Above Rs.15.00 lacs  RLLR + Spread (As per internal rating) Floating
     
JK Bank Fair Price Shop Scheme     
For all limits (maximum Finance as per RLLR +3.00% Floating
scheme Rs.10.00 lacs)
     
JK Bank Easy Working Capital Finance Scheme for Trade & Services Sector     
All Slabs RLLR +1.50% Floating
     
Loan Against Property (LAP)     
Individual Borrower / Non Individuals RLLR+1.50% To RLLR +2.00% Floating
     
JK Bank Easy WC finance for textile traders of Surat  RLLR + 2.00% Floating
     
Working capital facilities against mortgage backed securities under special scheme for iron & Steel traders of Loha Mandi, Naraina    
For accounts having minimum forced sale value of collateral security at 125% ofsanction limit RLLR +0.75% Floating
For accounts having minimum forced sale value of collateral security at 100% ofsanction limit RLLR +1.50% Floating
     
Mortgage Loan Scheme for traders of Petrochemical Products (Plastic Granules) and grain traders of Saddar Bazar Delhi RLLR +1.00% Floating
     
Startup Finance Scheme RLLR Floating
     
Start Again-Finance scheme for retired employees    
Loans upto Rs 15.00 lac RLLR Floating
Loans above Rs 15.00 lac RLLR + Spread (As per internal rating) Floating
     
Two wheeler loans     
For Borrowers Opting for Fixed Rate RLLR +2.50% Fixed
For Borrowers Opting for Floating Rate RLLR +2.25% Floating
     
JK Bank Construction Equipment finance  RLLR + 1.25% Floating
     
Technology Upgradation Fund Scheme for MSEs.     
Micro enterprises (as per MSE) RLLR +2.75% Floating
Small enterprises (as per MSE) RLLR +3.25% Floating
     
Muhafiz Finance Scheme  RLLR Floating
     
Sahafat Fianance Scheme    
Term Loan RLLR +3.10% Floating
Cash Credit RLLR +3.10% Floating
     
Coaching Fee Loan Scheme  RLLR +2.00% Floating
     
J&K Bank Karobar Finance Card  RLLR +1.00% Floating
     
J&K Bank Weavers Mudra Scheme  RLLR +3.00% Floating
     
Loans Against Rental Discounting (LRD) RLLR +3.50% Floating
     
Loans to land lords for construction of premises for Bank’s use RLLR +2.50% Floating
     
     
Supply Chain Finance Scheme (SCFS)    
Collateral Security Cover (50% up to 75%) RLLR +1.30% Floating
Collateral Security Cover (Above 75%) RLLR +0.80% Floating
     
Loans against the security of:-    
Life  Insurance  policies,  Postal securities  (NSCs,  KVPs)  and  otherpermitted Government securities RLLR +4.00% Fixed
Shares/ convertible debentures and RLLR +6.50% Fixed
other equity linked permitted securities
     
Advances under Special Scheme (Mortgage Loan) for Fruit Commission Agents of J&K RLLR +1.50% Floating
     
Mortgage loan scheme for Traders of Agricultural Produce RLLR +1.50% Floating
     
J&K Bank Commercial Vehicle Finance  
For Fresh Borrowers RLLR + 1.25% Floating
     
 
JK Bank Commercial Vehicle Finance Scheme for (used vehicles)     
For loans with tenor upto 04 years  RLLR + 4.50% Fixed
For loans with tenor above 04 years  RLLR + 5.00% Fixed
     
J&K Bank Saral Finance To Small Businessmen RLLR + 3.50% Fixed
     
Passenger  Buses for Schools/Educational Institutions at fixed rate with repayment of the loan RLLR + 1.75% Floating
     
JK Bank Dastkaar Finance RLLR + 1.75% Fixed
     
Skill Loan Scheme RLLR + 1.50% Floating
     
J&K Rural Employment Generation Programme (JKREGP) RLLR + 2.50% Floating
     
Prime Minister’s Employment Generation Program Scheme (PMEGP) RLLR + 2.50% Floating
     
Loans under Government sponsored schemes. RLLR + 3.00% Floating
     
Mission Youth: Spurring Entrepreneurship Initiative    
Up to Rs. 15.00 lacs RLLR+3.50% Floating
Rs.15.00 lacs & above As per Internal Rating
     
Commercial Vehicle Finance Under Mumkin Initiative Of Mission Youth 3Y MCLR + 1.00% Fixed
     
Mission Youth; Reimagining and Rediscovering the Paradise Scheme RLLR+3.50% Floating
     
Mission Youth; Customized Livelihood Generation Scheme for Dental Professionals RLLR+3.50% Floating

Note:
·   Applicable interest rates & Concessions (if any) shall be in line with extant scheme guidelines of the Bank as updated from time to time.

 

(I)  Loan  Against  Bank’s  Own Term  Deposits   (including NRE &  NRO Rupee  Term
Deposits) to DEPOSITORS

 

Nature of facility

 

Margin

 

Rate of Interest

 

Loans and advances against bank’s own Term Deposits (including NRE & NRO Term Deposits) standing in the name of the borrower. [Singly, jointly or as guardian , or in the name of partnership firm, Public/Private Ltd Company Trusts or Societies]

 

10% for advances against term deposits having residual maturity upto 5 (five) years as on date of advance

 

1.50% above the rate allowed on deposit.

 

15% for advances against term deposits having residual maturity of more than 5 (five) years as on date of advance

 

(II)  Loan  Against  Bank’s  Own  Term  Deposits  (including NRE & NRO Rupee Term
Deposits) to THIRD PARTY

 

Nature of facility

 

Margin

 

Rate of Interest

 

Loans and Advances to Individual borrowers against third party term deposits (including NRE & NRO Term Deposits) standing in the name of individuals or entities other than  individuals e.g. Partnership   Concerns, Societies, Trusts, Public/ Private Ltd Companies etc.

 

10% for advances against term deposits having residual maturity upto 4 (four) years as on date of advance

 

2.00% above the rate allowed on term deposit

OR
Applicable MCLR, whichever          is
higher

 

15% for advances against term deposits having residual maturity of more than 4 (four) years but not more than 6 (six) years as on date of advance.

 

20% for advances against term deposits having residual maturity of more than 6 (six) years as on date of advance.

 

Loans & Advances to entities other than individuals e.g. Partnership   Concerns, Societies, Trusts, Public/Private Ltd  Companies  etc.  against third party Term Deposits ((including NRE & NRO Term Deposits) standing in the name of  individual or entities other than  individuals e.g. Partnership                  Concerns,

 

10% for advances against term deposits having residual maturity upto 3 (Three) years as on date of advance

 

2.00% above the rate allowed on term
deposit
OR

Applicable   MCLR
+ 1.00%, whichever is higher.

 

15% for advances against term deposits having residual maturity of more than 3 (three) years but not more than 5 (five) years as on date of advance.

 

20%  for  advances  against  term


 

Societies, Trusts, Public/ Private
Ltd Companies etc.

 

deposits having residual maturity of  more  than  5  (five)  years but not more than 7 (seven) years as on date of advance.

 

 

(III) Loan Against Inter-bank’s Term Deposits

 

Loans & Advances to Scheduled Commercial banks, Co- operative banks and RRB’s against their own term deposits with our bank

 

10%

 

1.00% above the rate allowed on term deposit

 

Interest rate range of contracted loans for the quarter ending Dec, 2022 for different categories of advances granted to individual borrowers along with mean interest rates for such loans.

GL_SUBHEAD
CODE

GL Desc

SCHM_CODE

No. of Accounts

Interest rate range

Mean/Average

Weighted Average/
Weighted Mean

26530

Consumption Loan (Public)

CNOTH

21978

8.50-13.20

11.72

11.72

26550

Housing Loan (Public)

HLOTH

3500

8.00-12.70

9.16

9.21

26630

Education Loans

EDULA

593

8.25-11.95

9.97

10.45

26524

Car Loan Public

JKCAR

6897

8.35-18.45

9.67

9.86

02102

J&K Bank Cash Credit - Govt Empl.

CCGEM

3768

8.25-12.00

11.37

11.67

26544

JK Bank Comm Vech FIN

JKCMF

688

8.85-12.35

10.86

11.33

26585

Used Car Loan

USCAR

229

8.35-13.95

12.62

13.71

26610

Transport Loans

TRPLA

1177

9.35-12.45

10.85

11.09

02050

CC Contractor Finance

CCONT

18

8.50-12.70

11.98

11.56

26510

Consumer Loans (Public)

COTHS

1989

8.25-12.70

11.52

12.00

26514

Two Wheeler Finance

JKTWF

1942

8.25-11.70

10.65

10.91

02014

Mortgage Loan Trade / Service

CCMRT

52

9.45-12.70

11.07

10.87

26800

Loan Against Mortgage

LAMRT

328

8.50-12.20

10.80

11.05

 

Annual Percentage Rate: 


GL Desc

SCHM_CODE

Interest rate range

Processing Charges

Expected Average Maturity
(in Years)

   Average
per year

Annual Percentage Rate

Consumption Loan (Public)

CNOTH

12.10-13.35

1.00% of loan amount +GST (Max 10000)

5

0.20

12.30-13.55

Housing Loan (Public)

HLOTH

8.75-9.85

0.25% of loan amount +GST (Min 2000 & Max 50000)

15

0.02

8.77-9.87

Education Loans

EDULA

9.95-12.95

 

NA

NA

9.95-12.95

Car Loan Public

JKCAR

8.95-9.95

0.50% of loan amount +GST (Min 1500 & Max 15000)

5

0.10

9.05-10.05

J&K Bank Cash Credit - Govt Empl.

CCGEM

12.15-12.35

0.25% of loan amount +GST (Min 500 & Max 1000)

1

0.25

12.40-12.60

JK Bank Comm Vech. FIN

JKCMF

10.70

0.50% of loan amount +GST (Min 2500 & Max 25000)

5

0.10

11.70

Construction equipment

 

10.70

0.50% of loan amount +GST (Min 2500 & Max 25000)

5

0.10

11.70

CC Contractor Finance

CCONT

10.55-15.45

0.15 % of loan amount +GST (Min 300) & 0.25% of loan amount + GST (Max 15.00 lacs)

1

0.15

11.60-15.60

Consumer Loans (Public)

COTHS

12.35

Min
250+GST Max 500+GST

5

0.01

12.36

Two Wheeler Finance

JKTWF

11.70-11.95

1.00% of loan amount +GST (Min 500 & Max 2000)

5

0.20

11.90-12.15

Mortgage Loan Trade / Service

CCMRT

10.95-11.45

0.15% of loan amount +GST (Min 300)
0.25% of loan amount +GST (Max 15.00 lacs)

1

0.15

11.10-11.60

Loan Against Mortgage

LAMRT

10.95-11.45

0.25% of loan amount +GST (Max 500000)

10

0.03

10.98-11.48




The interest rates applicable on FCNR (B) deposits w.e.f  May 10, 2024 shall be as under :

 
1 year to less than 2 years
2 years to less than 3 years
3 years to less than 4 years
4 years to less than 5 years
5 years only
FCY

USD

5.55

4.50

4.25

3.90

3.90

GBP

4.60

3.75

3.50

3.50

3.50

EUR

3.40

3.00

0.60

0.60

0.60

JPY *

0.00

0.00

0.00

0.00

0.00

CAD*

4.00

3.50

3.50

0.00

0.00

AUD*

4.00

3.25

3.25

0.00

0.00

*Deposits in JPY,CAD & AUD to be accepted for a maximum period of 3 years only.



The interest rates applicable on RFC deposits w.e.f  May 10, 2024 shall be as under:

RFC Term Deposits
       
Period
USD
GBP
EUR
JPY
1 Month to less than 6 Months

2.66

2.60

0

0

6 Months to less than 1 Year

2.61

2.58

0

0

1 Year to less than 2 Years

5.55

4.60

3.40

0

2 Years to  less than 3 Years

4.50

3.75

3.00

0

3 Years

4.25

3.50

0.60

0

 

RFC Saving Deposits

The interest rates applicable on RFC Saving deposits w.e.f  May 10 , 2024 shall be as under:

Currency
USD
GBP
EUR
JPY
Interest Rate

0.66

0.65

0

0

The revised interest rates shall be applicable on fresh deposits and renewal of maturing deposits.