Deposit Type Rate of Interest Per Annum w.e.f. April 11,2020
Revised
Domestic/NRO/ NRE Rupee Savings Bank Deposits 3.00%

Interest Rates on Domestic Term Deposits of less than Rs. 2.00 Crore w.e.f May 11, 2020 ,

Maturity Period Deposit Type Revised Interest Rates per Annum
7 days to 30 days Domestic/NRO 3.50%
31 days to 45 days Domestic/NRO 3.75%
46 days to 90 days Domestic/NRO 4.50%
91 days to 180 days Domestic/NRO 4.50%
181 days to 270 days Domestic/NRO 5.00%
271 days to less than 1 Year Domestic/NRO 5.25%
1 year to less than 2 years Domestic/NRO/NRE 5.70%
2 years to less than 3 years Domestic/NRO/NRE 5.70%
3 years to less than 5 years Domestic/NRO/NRE 5.50%
5 years to less than 10 years Domestic/NRO/NRE 5.50%
  • 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 are as under:


Interest Rates per Annum For Withdrawable Term Deposits of Rs 2.00 Crs to Less than Rs 5.00 Crs W.e.f May 11, 2020
Maturity Period Deposit Type   Revised Interest Rates per Annum
7 days to 30 days Domestic/NRO   3.25%
31 days to 45 days Domestic/NRO   3.50%
46 days to 90 days Domestic/NRO   3.75%
91 days to 180 days Domestic/NRO   4.00%
181 days to 270 days Domestic/NRO   4.25%
271 days to less than 1 Year Domestic/NRO   4.50%
1 year to less than 2 years Domestic/NRO/NRE   4.75%
2 years to less than 3 years Domestic/NRO/NRE   4.75%
3 years to less than 5 years Domestic/NRO/NRE   4.75%
5 years to less than 10 years Domestic/NRO/NRE   4.75%
The above rates are applicable for fresh deposits and renewal of maturing deposits. The minimum contract period of NRE deposits is 1 year.

Domestic Term Deposits of Senior Citizens of over 60 years of age shall be paid additional interest of 0.50% across all maturities.

 

The Interest rates applicable for Non-Withdrawable Term Deposits W.e.f May 11, 2020 are as under:

 

Maturity Period

 

Deposit Type

Revised Interest Rates per Annum   (Non-Withdrawable)

 

For Rs 2.00 Crs to Rs 2.50 Crs

 

Above Rs 2.50 Crs to Less than Rs 5.00 Crs

91 days to 180 days Domestic/NRO 4.10% 4.10%
181 days to 270 days Domestic/NRO 4.35% 4.35%
271 days to less than 1 year Domestic/NRO 4.60% 4.60%
1 year to less than 2 years Domestic/NRO/NRE 4.85% 4.85%
2 year to less than 3 years Domestic/NRO/NRE 4.85% 4.85%



BASE RATE 9.50% W.E.F. 05.10.2015

MCLR

Maturity Period

MCLR

w.e.f. May 10, 2020

w.e.f. April 10, 2020

Overnight
7.1
7.15
One month
7.2
7.25
Three months
7.4
7.50
Six months
7.7
7.80
One year
7.85
8.00
Two years
8.3
8.45
Three Years
8.35
8.50

 

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

 

S NO SCHEME RATE OF INTEREST
1 Agriculture & Allied Activities including credit facilities under Kissan Credit Card/ GIRI/ Apple Scheme/Zaffran scheme, Agri Term loans/Commercial Floriculture and other allied activities
Up to Rs.2.00 lacs APPLICABLE MCLR+0.50%
Above Rs.2.00 lacs & up to Rs.5.00 lacs APPLICABLE MCLR+1.00%
Above Rs.5.00 lacs & less than Rs.15.00 lacs APPLICABLE MCLR+1.50%
Rs.15.00 lacs and above As per internal Rating Grade
2 Advances under Special Scheme ( Mortgage Loan ) for Fruit Commission Agents of J&K
For all slabs (with 50bps concession to senior borrowers having minimum banking relationship of 5 years or more) APPLICABLE MCLR+1.50%
3 Advances under Special Scheme (Mortgage Loan ) for Fruit Merchants of Azadpur Delhi 
For all slabs (with 50bps concession to senior borrowers having minimum banking relationship of 5 years or more) APPLICABLE MCLR+1.50%
4 J&K Bank Commercial Vehicle Finance
For Fresh connections APPLICABLE MCLR+1.50%
For Existing Customers APPLICABLE MCLR+1.00%
5 Kisan Dost Finance Scheme APPLICABLE MCLR+0.25%
6 Transport Operators (2ND Hand Vehicles)
For a period up to 4 years APPLICABLE MCLR+4.25%
For a period exceeding 4 years APPLICABLE MCLR+4.75%
7 J&K BANK SARAL FINANCE TO SMALL BUSINESSMEN
All slabs APPLICABLE MCLR+3.25%
8 Passenger  Buses for Schools/Educational Institutions at fixed rate with repayment of the Loan
For a period upto 7 years
        Fresh Connections APPLICABLE MCLR+ 1.50%
        Existing Connections  APPLICABLE MCLR+ 1.00%
For a period above 7 years 
        Fresh Connections APPLICABLE MCLR+ 2.50%
        Existing Connections  APPLICABLE MCLR+ 2.00%
9 Scheme for purchase of Fitness/Wellness & Health Equipment APPLICABLE MCLR+ 1.50%
10 Other Consumer Loans  3YR MCLR + 3 %
11 JK Bank Laptop/PC Finance 3YR MCLR + 2.5 %
12 JK Bank Solar Equipment Finance 3YR MCLR + 3 %
13 Aan Posh Teliyeli wan posh/Finance for purchase of Domestic LPG Connections APPLICABLE MCLR
14 JK Bank passenger Bus/minibus finance(For Doda,Bhaderwah&Kishtwar)
UptoRs 2 lacs APPLICABLE MCLR+1.00%
Above Rs 2 lacs &uptoRs 10 lacs APPLICABLE MCLR+1.50%
Above Rs 10 lacs APPLICABLE MCLR+2.00%
15 JK  Bank  Finance  for  refurbishing  of  old  passenger  Buses/mini  buses (For Doda,Bhaderwah&Kishtwar) APPLICABLE MCLR+2.00%
16 JK Bank Dastkaar Finance APPLICABLE MCLR+1.00%
17 Loans under Saholiat / Saral Scheme granted to Salaried employees/ pensioners of Central/ State Government (including Rehbar I Taleem teachers), Public Sector Undertakings (State and Central), Autonomous Bodies and other institutions.
a Maintaining salary accounts with the Bank APPLICABLE MCLR+3.00%
b Not maintaining salary accounts with the Bank APPLICABLE MCLR+4.00%
c Professionals (other than salaried class) / Self Employed Persons & Businessmen APPLICABLE MCLR+4.00%
d Central / State Government pensioners, including family pensioners, maintaining pension APPLICABLE MCLR+3.00%
accounts with the Bank
18 J&K Bank Aasayish Finance Scheme
Upto Rs 2.00 lac APPLICABLE MCLR+2.50%
Above Rs 2.00 lac APPLICABLE MCLR+4.50%
19 Festival Advance Scheme APPLICABLE MCLR+3.50%
20 Cash Credit scheme for Salaried Employees  APPLICABLE MCLR+3.50%
21 Skill Loan Scheme  APPLICABLE MCLR+3.10%
22 Modular Kitchen Finance 
For Salaried Employees APPLICABLE MCLR+3.00%
For Others  APPLICABLE MCLR+3.50%
23 High Density Apple Plantation Finance Scheme  APPLICABLE MCLR+0.60%
24 Apiculture Finance Scheme  APPLICABLE MCLR+0.50%
25     Loans under Government sponsored schemes. (floating) For all Limits APPLICABLE MCLR+2.75%
26 Shere-Kashmir Employment & Welfare Programme for the Youth of J&K (fixed)                          Effective interest rate shall be worked out on the basis of 50 basis points over and above the APPLICABLE MCLR as on date of sanction. The effective rate so arrived shall remain fixed for the entire tenor of the loan  APPLICABLE MCLR+0.50%*
27 Centrally Sponsored scheme for integrated development of small Ruminants & rabbits
UptoRs 2 lacs APPLICABLE MCLR+1.25%
Above Rs 2 lacs &upto Rs 5.00 lacs APPLICABLE MCLR+1.75%
Above Rs 5.00 lacs APPLICABLE MCLR+2.25%
28 J&K Bank Mini Sheep Farm Scheme  APPLICABLE MCLR+1.00%
29  Dairy Entrepreneurship Development Scheme (DEDS) 
Upto Rs 2.00 lacs   APPLICABLE MCLR+1.50%
Above Rs 2.00 lacs & upto Rs 5.00 lacs  APPLICABLE MCLR+2.00%
Above Rs 5.00 lacs & upto Rs 20.00 lacs  APPLICABLE MCLR+2.50%
Above Rs 20.00 lacs  APPLICABLE MCLR+3.50%
30 Loans to land lords for construction of premises for Bank’s use
Up to Rs.20.00 lacs APPLICABLE MCLR+4.25%
Above Rs.20.00 lacs APPLICABLE MCLR+4.75%
31 JK Bank ATV/ Snowmobiles Finance Scheme APPLICABLE MCLR+2.00%
32 LOAN AGAINST GOLD AND JEWELLERY Fixed rate of Interest @ 10.00%  p.a (APPLICABLE TILL 31.03.2020)                                                       One Year MCLR + Spread = 10.00% p.a                                   FEMALE BORROWERS /JOINT ACCOUNT HAVING ONE MEMBER AS FEMALE TO GET 50 BPS CONCESSION.
32 HELP TOURISM 3YR MCLR

 

S.No. Scheme Description RLLR applicable w.e.f.
28-03-2020=7.60%
1 Micro and Small Enterprises(Floating)  
1.1 Upto Rs 15.00 Lacs RLLR+3.00%
1.2 Rs 15.00 Lacs and above As per Risk Rating
2 Retail Trade(Floating)  
2.1 Upto Rs 2.00 Lacs RLLR+3.00%
2.2 Above Rs 2.00 Lacs upto Rs 15.00 Lacs RLLR+3.50%
2.3 Rs 15.00 Lacs and above As per Risk Rating
3 Housing Loans (Floating Rate)  
3.1 Housing loans qualifying for priority Sector Classification RLLR
3.2 Upto Rs 100.00 lac ( Non-Priority) RLLR+0.10%
3.3 Above Rs 100.00 lac to Rs 300.00 lac RLLR+0.25%
3.4 Above Rs 300.00 lacs RLLR+0.40%
4 Housing Loans under CRE (Floating Rate) RLLR+3.50%
5 Home Loan-Top Up Finance Scheme (Floating Rate) RLLR+2.00%
6 Car Loans ( Fresh Cars) under floating rate option  
6.1 For General Public RLLR+0.75%
6.2 For Companies & Firms  RLLR+1.25%
7 Car Loans ( Fresh Cars) under fixed interest rate option  
7.1 For General Public RLLR + 1.50%
7.2 For Companies & Firms  RLLR + 2.00%
8 Car Loans (2nd Hand Cars) under fixed interest rate option with repayment of the loan  
8.1 For a period up to 4 years RLLR +3.75%
8.2 For a period exceeding 4 years RLLR +4.75%
9 Two wheeler loans under fixed interest rate option RLLR +2.00%
10  Two wheeler loans under floating interest rate option RLLR +1.50%
11 Education Loans with tenure exceeding 5 years( Floating rate)  
11.1 Upto Rs 10.00 lacs RLLR+1.50%
11.2 Above Rs 10.00 lacs and upto Rs 20.00 lacs RLLR+2.25%
11.3 Above Rs 20.00 lacs RLLR+2.75%
12 Education Loans with tenure up to 5 years ( at fixed interest rate)  
12.1 Up to Rs. 10.00 lacs RLLR+ 2.00%
12.2 Above Rs.10.00 lacs and up to Rs.20.00 lacs RLLR +3.00%
12.3 Above Rs.20.00 lacs RLLR +3.50%
13 Working capital facilities under JK Bank Contractor Finance Scheme (Floating rate)  
13.1 Up to Rs.2.00 lacs RLLR +3.00%
13.2 Above Rs.2 lacs and less than Rs.15.00 lacs RLLR +3.50%
13.3 Rs.15.00 lacs & above As per Risk Rating
14 J&K Bank Oil Tanker Finance Scheme (Floating rate) RLLR +0.20%
15 Bank finance of sale & manufacture of Gold ornaments/ Jewelry (Floating rate)  
15.1 Up to Rs.2.00 lacs RLLR +3.00%
15.2 Above Rs.2.00 lacs &less than Rs.15.00 lacs RLLR +3.50%
15.3 Rs.15.00 lacs & above As per Risk Rating
16 Loans and Advances under JK Bank Fair Price Shop Scheme (Floating rate) RLLR +3.50%
17 JK Bank Easy Working Capital Finance Scheme for Trade & Services Sector (Floating rate) RLLR +2.00%
18 Loan against a property (LAP) (Floating rate) RLLR +2.00%
19 JK Bank Easy WC finance for textile traders of Surat (Floating rate) RLLR + 3.00%
20 Working capital facilities against mortgage backed securities under special scheme for iron & Steel traders of LohaMandi, Naraina  
20.1 For accounts having minimum forced sale value of collateral security at 125% of Sanction Limit RLLR +1.25%
20.2 For accounts having minimum forced sale value of collateral security at 100% of sanction limit RLLR +2.00%
21 Working capital facilities against mortgage backed securities under special scheme for plastic & grain traders of Sadar Bazaar , Delhi  
21.1 For limits up to Rs.1000.00 lacs RLLR +3.25%
22 Startup Finance Scheme  RLLR
23 Start Again-Finance scheme for retired employees   
23.1 Loans upto Rs 15.00 lac RLLR
23.2 Loans above Rs 15.00 lac As per Risk Rating
24 JK Bank Construction Equipment finance (floating Rate)  
24.1 Less than Rs 15.00 lakhs RLLR +2.50%
24.2 15 lakh and above As per Risk Rating
25 Technology Upgradation Scheme for MSEs. Less than Rs15.00 lacs (Floating Rate)  
25.1 Micro enterprises (as per MSE) RLLR +3.25%
25.2 Small enterprises (as per MSE) RLLR +3.75%
26 Muhafiz Finance Scheme ((Floating Rate) RLLR
27 Sahafat Fianance Scheme  
27.1     Term Loan RLLR +3.10%
27.2     Cash Credit RLLR +3.10%
28 Coaching Fee Loan Scheme (Floating Rate) RLLR +2.00%
29 J&K Bank Karobar Finance Card (Floating Rate) RLLR +1.00%
30 J&K Bank Weavers Mudra Scheme (Floating Rate) RLLR +3.00%
31 Loans Against Rental Discounting (LRD) (Floating Rate) RLLR +2.50%
32 J&K Bank Channel Finance Scheme (Floating Rate)  
32.1 Tangible Collateral (0%)  RLLR +1.50% 
32.2 Tangible Collateral (Min 25%) RLLR +0.75%   
32.3 Tangible Collateral (Min 50% & Above) RLLR +0.50%
33 Loans against the security of:-  
33.1 Life  Insurance  policies,  Postal  securities  (NSCs,  KVPs)  and  other  permitted Government securities RLLR +4.00%
33.2 Shares/ convertible debentures and other equity linked permitted securities RLLR +6.50%
34 Health Plus Scheme(Floating) RLLR+2.50%

Note:
·    Concessions stipulated in various schemes over and above the general interest rates shall continue to remain in force.
·    Rate of interest on the fixed rate loans at the time of disbursement/ renewal/ review will not be lower than the MCLR of respective maturity. The interest rate however will remain fixed for entire tenor of loan

 

(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




The interest rates applicable on FCNR (B) deposits for the month of May 2020 shall be as under :

FCNR(B)

 

 

 

 

 

 

FCY 1year<2years 2year<3years 3year<4years 4year<5years 5years only
USD 1.26 1.18 1.19 1.22 1.26
GBP 1.23 1.29 1.29 1.3 1.31
EUR 0 0 0 0 0
JPY *  0 0 0 - -
CAD* 1.75 1.46 1.52 - -
AUD * 1.03 1.09 1.15 - -

*Deposits for a maximum period of 3 years only



The interest rates applicable on RFC deposits for the month of May 2020 shall be as under:

RFC Deposits

Period USD GBP EUR JPY
1 Month< 6 Months 0.15 0.09 0 0
6 Month < 1 Year 0.36 0.32 0 0
1 Year < 2 Years 1.26 1.23 0 0
2 Years < 3 Years 1.18 1.29 0 0
3 Years 1.19 1.29 0 0

 

RFC Saving Deposits

Currency  USD        GBP            EUR             JPY
  0.04 0.02 0 0

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