• Jammu & Kashmir Bank Tax Saving Fixed Deposit Scheme

    The Jammu & Kashmir Bank offers its customers a tax saving fixed deposit scheme. Under this scheme, customers can deposit a minimum of Rs.1,000. The minimum duration of this deposit scheme is 10 years and the scheme doesn’t allow for premature withdrawal until 5 years.

    Jammu & Kashmir Bank Tax Saving Fixed Deposit Scheme Features

    The various features of Jammu & Kashmir Tax Saving Fixed Deposit Scheme are mentioned below:

    Account type Single or jointly
    Deposits Minimum: Rs.1,000
    Tenure

    Minimum: 7 days

    Maximum: 10 years

    Premature withdrawal Not available until 5 years
    Loan facility Not available

    Jammu & Kashmir Bank Tax Saving Fixed Deposit Scheme Interest Rates for Deposits below Rs.2 Crore

    The interest rates for Jammu & Kashmir Bank Tax Saving Fixed Deposit Schemes for deposits below Rs.2 crore are given below:

    Tenure Interest Rate (p.a.)
    7 days to 30 days 3.00%
    31 days to 45 days 3.10%
    46 days to 90 days 3.25%
    91 days to 180 days 4.00%
    181 days to 270 days 4.40%
    271 days to less than 1 year 4.50%
    1 year to less than 2 years 5.10%
    2 years to less than 3 years 5.20%
    3 years to less than 10 years 5.30%

    Note: These interest rates are effective since 10 November 2021 and can be changed as per bank’s rules and regulation.

    Jammu & Kashmir Bank Tax Saving Fixed Deposit Scheme Eligibility

    The eligibility criteria to open a Jammu & Kashmir Bank Tax Saving Fixed Deposit account are:

    • Residents over the age of 18
    • Accounts in the name of adult and a minor or two adults

    Documents Required for Jammu & Kashmir Bank Tax Saving Fixed Deposit Scheme

    The documents required for opening a Jammu & Kashmir Bank Tax Saving Fixed Deposit Account are:

    • Application form from the bank
    • Depositor's photograph (2 copies)
    • PAN card
    • Documents according to KYC guidelines

    FAQs on Jammu & Kashmir Bank Tax Saving Fixed Deposit

    1. What is the minimum one can deposit to open an account under Jammu & Kashmir Bank Tax Saving Fixed Deposit Scheme?

      The minimum amount required to open an account under Jammu & Kashmir Bank Tax Saving Fixed Deposit Scheme is Rs.1,000.

    2. Is loan facility available under the Jammu & Kashmir Bank Tax Saving Fixed Deposit Scheme?

      No, loan facility is not available under the Jammu & Kashmir Bank Tax Saving Fixed Deposit Scheme.

    3. Is premature withdrawal facility available under the Jammu & Kashmir Bank Tax Saving Fixed Deposit Scheme?

      No, premature withdrawal facility is not available under the Jammu & Kashmir Bank Tax Saving Fixed Deposit Scheme until 5 years of the deposit.

    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.

    reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.