J&K Bank Child-Care Deposit Scheme

The Fixed Deposit (FD) is often considered a lucrative investment scheme. It helps one earn high returns with minimum risk. J & K Bank offers child-care deposits scheme with investment as small as Rs.100.

Features and benefits of J & K child-care deposit scheme

  1. Investment can be as small as Rs.100 or in multiples of Rs.100
  2. Term-deposit tenure can be 5, 7 and 10 years respectively
  3. Quarterly interest rates will be compounded
  4. Premature withdrawal is allowed with penalty
  5. Accidental insurance cover for parent/guardian

Eligibility criteria for J & K child-care deposit scheme

  • Parents/guardians can apply on behalf of minors
  • Individuals can apply their name

Documentation required for J & K child-care deposit scheme

  • KYC documents according to the bank norms
  • 2 passport size photographs of applicant’s parent/guardian
  • Applicants birth certificate
  • PAN card or Form 60/61
  • Legal proof in case of guardian
  • Declaration form signed by parent/guardian in case of minors

FAQs on J&K Bank Child-care Deposit Scheme

  1. Can term deposit be withdrawn prematurely?

    Yes, you can withdraw term-deposit prematurely. However, you will have to pay a penalty interest on premature withdrawal.

  2. Is a loan facility available against the term deposit?

    Yes, there is a loan facility available against the term deposit.

  3. How much monthly installment do I need to deposit in Phase-I?

    You can deposit a fixed monthly installment of Rs 100 and above in multiples of Rs 100.

Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

This Page is BLOCKED as it is using Iframes.