• Jammu & Kashmir Bank Flexi Deposit

    Jammu & Kashmir Bank offers its customers the facility of flexi deposit where you can deposit variable amounts every into the deposit.

    Deposit Amount Rs.1,000 and above
    Tenure From 6 months to 10 years
    Interest payouts Interest will be paid on maturity
    Premature withdrawal Allowed (with penalty)
    Add-ons
    • Flexible Credit facility with multiple credits and withdrawals. This is up to 90% of the amount that you have deposited plus the interest accrued.
    • There is no separate loan requisition, and no execution of loan documents. You do not have to surrender the original Flexi Deposit Receipt.

    Eligibility of Jammu & Kashmir Bank Flexi Deposit

    • An individual
    • More than one person in joint names.
    • A minor through a parent or a guardian.
    • Sole Proprietorship concerns
    • Partnership firms
    • Private and Public Limited Companies
    • HUFs
    • Associations
    • Clubs
    • Societies
    • Trusts

    Documents Required to Apply for the Jammu & Kashmir Bank Flexi Deposit

    • 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

    Interest Rates on Term Deposits of less than Rs.2 Crore

    Maturity Period Deposit Type Current Interest Rates per Annum Revised Interest Rates per Annum
    7 days to 30 days Domestic/NRO 3.00% 3.00%
    31 days to 45 days Domestic/NRO 3.10% 3.10%
    46 days to 90 days Domestic/NRO 3.75% 3.25%
    91 days to 180 days Domestic/NRO 4.00% 4.00%
    181 days to 270 days Domestic/NRO 4.40% 4.40%
    271 days to less than 1 Year Domestic/NRO 4.50% 4.50%
    1 year to less than 2 years Domestic/NRO/NRE 5.10% 5.10%
    2 years to less than 3 years Domestic/NRO/NRE 5.20% 5.20%
    3 years to less than 5 years Domestic/NRO/NRE 5.30% 5.30%
    5 years to less than 10 years Domestic/NRO/NRE 5.30% 5.30%

    Interest Rates for Withdrawable Term Deposits

    Maturity Period Deposit Type Current Interest Rates per Annum Revised Interest Rates per Annum
    7 days to 30 days Domestic/NRO 2.90% 2.90%
    31 days to 45 days Domestic/NRO 3.00% 3.00%
    46 days to 90 days Domestic/NRO 3.10% 3.10%
    91 days to 180 days Domestic/NRO 3.25% 3.25%
    181 days to 270 days Domestic/NRO 3.25% 3.25%
    271 days to less than 1 Year Domestic/NRO 4.00% 3.50%
    1 year to less than 2 years Domestic/NRO/NRE 3.75% 3.75%
    2 years to less than 3 years Domestic/NRO/NRE 4.00% 4.00%
    3 years to less than 5 years Domestic/NRO/NRE 4.00% 4.00%
    5 years to less than 10 years Domestic/NRO/NRE 4.00% 4.00%

    Interest Rates for Non-Withdrawable Term Deposits

    Maturity Period Deposit Type Revised Interest Rates per Annum
    Rs.2 crore to Rs.2.50 crore Rs.2.50 crore to less than Rs.5 crore
    91 days to 180 days Domestic/NRO 3.35% 3.35%
    181 days to 270 days Domestic/NRO 3.35% 3.35%
    271 days to less than 1 year Domestic/NRO 3.60% 3.60%
    1 year to less than 2 years Domestic/NRO/NRE 3.85% 3.85%
    2 years to less than 3 years Domestic/NRO/NRE 4.10% 4.10%

    FAQs on Jammu & Kashmir Bank Flexi Deposit

    1. Is the interest under the Jammu & Kashmir Bank Flexi Deposit applied on simple or compound basis?

      The interest for the Jammu & Kashmir Bank Flexi Deposit is compounded quarterly.

    2. What are the tenures available for the Jammu & Kashmir Bank Flexi Deposit for which I can open accounts?

      You can open an account for tenures between 6 months and 10 years.

    3. Is there a value addition offered under the Jammu & Kashmir Bank Flexi Deposit?

      Yes, you have a Flexible Credit facility up to 90% (with facility of multiple credits/withdrawals) of the amount deposited and interest accrued.

    4. Am I allowed to withdraw my deposit prematurely?

      Yes, but you will be charged an interest on pre-mature withdrawals.

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