Jammu & Kashmir Bank Tax Saving FD 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 |
Interest Rates (p.a.) | 6.50% for general public 7.00% for senior citizens |
Tenure | Minimum: 5 years Maximum: 10 years |
Premature withdrawal | Not available until 5 years |
Loan facility | Not available |
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
- 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.
- 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.
- 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.
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