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Disclaimer: Jammu and Kashmir Bank (J&K Bank) is not a Paisabazaar partner and all content herein is strictly informative in nature. Paisabazaar is not affiliated with, sponsored by or in any way connected to Jammu and Kashmir Bank (J&K Bank) for personal loans. No offers/services from Jammu and Kashmir Bank (J&K Bank) are being provided by Paisabazaar for personal loans. For further information about Jammu and Kashmir Bank (J&K Bank) for personal loans, users are required to reach out directly to Jammu and Kashmir Bank (J&K Bank).
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Jammu and Kashmir Bank Personal Loan Highlights |
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| Interest Rate | 12.45%-13.45% p.a. |
| Tenure | Up to 10 years |
| Processing Fees | Up to 1% loan amount subject to maximum of Rs 10,000+GST
For Pensioners: NIL |
Note: Rates as of 19th November 2024
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J&K Bank Personal Loan Interest Rates
J&K Bank Personal Loan Interest Rates start from 12.45% p.a. onwards. The bank offers personal loans depending on the job profile of personal loan applicants and the type of J&K Bank Personal Loan schemes.
| Loan Products | Interest Rates (p.a.) |
| Jammu and Kashmir Bank Personal Consumption Loan for Employees | Maintaining salary accounts with the Bank- 12.45% p.a.
Not maintaining salary accounts with the Bank-13.45% p.a. |
| Jammu and Kashmir Bank Personal Consumption Loan for Professionals | 13.45% p.a.(fixed) |
| Jammu and Kashmir Bank Personal Consumption Loan for Pensioners | 12.45% p.a. (fixed) |
| Jammu and Kashmir Bank Personal Consumption Loan for Businessmen | 13.45% p.a. (fixed) |
| Festival Advance Loan | 12.45% p.a. (fixed) |
| Sahafat Finance Scheme | Term Loan- 12.55% p.a. (floating)
Cash Credit: 12.55% p.a. (floating) |
| J&K Bank Cash Credit Scheme (Salaried Employees) | 12.95% p.a. (fixed) |
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Comparison of J&K Bank Personal Loan v/s Other Lenders
| Banks/NBFCs | Interest Rates(p.a.) | |
| Axis Bank | 11.25% onwards | Apply Now |
| IndusInd Bank | 10.49% onwards | Apply Now |
| IDFC First Bank | 10.99% onwards | Apply Now |
| HDFC Bank | 10.85% onwards | Apply Now |
| ICICI Bank | 10.85% onwards | Apply Now |
| Kotak Mahindra Bank | 10.99% onwards | Apply Now |
| Tata Capital | 11.99% onwards | Apply Now |
| Federal Bank | 12.00% onwards | Apply Now |
| DMI Finance | 12.00% - 40.00% | Apply Now |
| L&T Finance | 12.00% onwards | Apply Now |
| Kreditbee | 16.00% - 29.95% | Apply Now |
| MoneyTap | 13.00% onwards | Apply Now |
| Piramal Finance | 12.99% onwards | Apply Now |
| Aditya Birla | 10.99% onwards | Apply Now |
| Moneyview | 14%-36% | Apply Now |
| Cashe | 27.00% onwards | Apply Now |
Also Check: Latest personal loan interest rates of all Banks/NBFCs
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Jammu & Kashmir Bank Personal Loan Fees and Charges
| Loan Scheme | Fees and Charges |
| Jammu and Kashmir Bank Personal Consumption Loan for Employees | NIL |
| Jammu and Kashmir Bank Personal Consumption Loan for Professionals | 1% loan amount subject to maximum of Rs 10,000+GST |
| Jammu and Kashmir Bank Personal Consumption Loan for Pensioners | NIL |
| Jammu and Kashmir Bank Personal Consumption Loan for Businessmen | 1% loan amount subject to maximum of Rs 10,000+GST |
| Festival Advance Loan | NIL |
| Sahafat Finance Scheme | Rs 200+GST |
| J&K Bank Cash Credit Scheme (Salaried Employees) | 0.25% of loan amount (Rs 500-Rs 1,000)+GST |
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EMI Calculator
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395
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Types of Jammu & Kashmir Bank Personal Loan
Jammu and Kashmir Bank Personal Consumption Loan for Employees
Purpose: For meeting all sorts of personal financial requirements
Loan Amount: Minimum Rs 50,000 Maximum Loan Amount :
- For permanent Government employees, employees of PSUs, Institutions and Autonomous bodies of government having salary account with J&K Bank- 42 times monthly gross salary
- For government employees not having salary account with J&K Bank-24 times monthly gross salary or Rs 15 lakh, whichever is lower
- For employees of Corporate Houses or other reputed institutions having salary account with J&K Bank- 30 times monthly gross salary or Rs 25 lakh, whichever is lower
Tenure: Up to 10 years
Processing Fees: NIL
Jammu and Kashmir Bank Personal Consumption Loan for Professionals
Purpose: Term loans to meet personal and professional requirements
Loan Amount: 2.5 times net annual income or 30 months net monthly income or Rs 20 lakh, whichever is lower
Tenure: Up to 7 years
Processing Fees: 1% loan amount subject to maximum of Rs 10,000+GST
Jammu and Kashmir Bank Personal Consumption Loan for Pensioners
Purpose: Term loan for any personal requirements
Loan Amount: For Pensioners:
- Up to 70 years of age at the time of applying loan: 30 times net monthly pension
- 70-74 years of age at the time of applying loan: 12 times net monthly pension
For Family Pensioners:
- Up to 70 years of age at the time of applying loan: 24 times net monthly pensions or Rs 3 lakh, whichever is lower
- 70-74 years of age at the time of applying loan: 12 times net monthly pension or Rs 2 lakh, whichever is lower
Processing Fees: NIL
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Jammu and Kashmir Bank Personal Consumption Loan for Businessmen
Purpose: Term loans to fulfil personal requirements
Loan Amount: 30 months net monthly income subject to maximum of Rs 20 lakh
Tenure: Up to 7 years
Processing Fees: 1% loan amount subject to maximum of Rs 10,000+GST
Festival Advance Loan
Purpose: To meet the finances for festival celebrations
Loan Amount: Minimum loan amount: Rs 5,000 Maximum loan amount: Average of net salary for last 3 months subject to maximum of Rs 40,000, average is less than Rs 50,000 Rs 60,000, average is Rs 50,000-Rs 80,000 Rs 75,000, average is Rs 80,000 or above
Tenure: Up to 10 years
Processing Fee: NIL
Sahafat Finance Scheme
Purpose: Composite loans to meet personal or professional requirements of journalists/media personnel and newspaper employees/media houses, on merit basis
Loan Amount: Up to 36 times of net monthly income subject to Rs 50,000-Rs 3 lakh
Tenure: Up to 5 years
Processing Fees: Rs 200+GST
J&K Bank Cash Credit Scheme (Salaried Employees)
Purpose: To meet the cyclic liquidity needs of salaried applicants
Loan Amount: Rs 50,000 – 6 times average of last 3 months salary or Rs 6 lakh
Tenure: Up to 8 years
Processing Fee: 0.25% of loan amount (Rs 500-Rs 1,000) +GST
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Eligibility Criteria for J&K Bank Personal Loan
- Age: 18 years to 1 year less than the retirement age/18-65 years (Sahafat Finance Scheme)/ 21 years to 1 year less than the retirement age (J&K Bank Cash Credit Scheme) Up to 69 years for pensioners
- Permanent employees of Central/State Government, PSUs, Government institutions and autonomous bodies, government employees (for J&K and Ladakh only) recruited under SRO 202 with a service of 18 months
- Permanent employees of reputed institutions having bank accounts with J&K Bank and also maintaining salary accounts with J&K Bank or will shift their existing salary accounts to J&K Bank with at least 1 salary received in the account
- Corporate House employees banking with J&K Bank, permanent employees maintaining salary accounts with the bank, or will shift their existing salary accounts to J&K Bank with at least 1 salary received in the account
- Doctors, engineers, architects, lawyers, CAs, maintaining relationship with the bank
- Central/State/Union Territory Government Pensioners/Family Pensioners having pension accounts with J&K bank and withdrawing the pension from J&K bank or having pension accounts with J&K Bank but the pension is disbursed from some other bank
- Businessmen having 3 years of satisfactory dealings with J&K bank maintaining a current deposit account or a business loan account
- Permanent employees/pensioners of State/Central Government, Government/Semi-Government Undertakings, Autonomous bodies drawing salary or pension from J&K Bank
- Journalist/media personnel
Documents Required for Loan Application
- Proof of Identity: This may include your Aadhaar Card, Voter ID Card, PAN Card, Passport, Driving License, etc.
- Proof of Address: This may include the latest utility bill (electricity/ telephone bill), bank passbook, Aadhaar Card, etc.
- Proof of Income: This may include your salary slips, bank account statement, profit and loss statement, Income Tax Return, etc.
- Personal loan application form: It should be duly filled and signed.
- Recent passport size colour photographs.
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Frequently Asked Questions (FAQs)
Q1. Does J&K Bank offer personal loan to pensioners?
Ans. Yes, J&K Bank offers personal loan to pensioners under the scheme called Saral/ Saholiat Finance Scheme for Pensioners.
Q2. What is the interest rate on J&K Saral/ Saholiat Finance Scheme for Employees?
Ans. The interest rate on J&K Saral/ Saholiat Finance Scheme for Employees is applicable MCLR + 3%.
Q3. What is the maximum repayment tenure for J&J Bank personal loan?
Ans. The maximum repayment tenure for J&K Bank personal loan is Up to 10 years.
Q4. What is J&K Festival Advance Scheme?
Ans. J&K Festival Advance Scheme is a kind of personal loan. You can avail up to Rs. 75,000 under this scheme to meet expenses related to festival celebrations.
Q5. Can students get a personal loan from J&K Bank?
Ans. Yes, regular students of recognized schools, colleges and universities can avail “Laptop/ PC Finance” scheme offered by J&K Bank.
Q6. Does J&K Bank offer personal loan to professionals?
Ans. Yes, professionals can avail a personal loan from J&K Bank in the form of “Saral/ Saholiat Finance Scheme for Professionals”.
Q7. What is the processing fee on Saral/ Saholiat Finance Scheme for Employees?
Ans. J&K Bank does not charge any processing fee on Saral/ Saholiat Finance Scheme for Employees.
Q8. What are the customer care numbers for J&K Bank?
Ans. The customer care numbers for J&K Bank are 0194-2481999 and 0194-2481936.
Q9. How can I check my credit score?
Ans. You can check your credit report and score for free at Paisabazaar.com.