The J&K Grameen Bank was established on 30 June 2009. The bank has branches in 11 districts of Jammu and Kashmir as well as 2 districts in Ladakh. The bank has a total of 217 branches all over the union territory of Jammu and Kashmir and the union territory of Ladakh.
J&K Grameen Bank Fixed Deposit Interest Rates for Deposits below Rs.5 Crore
The interest rated for J&K Grameen Bank fixed deposits for deposits below Rs.5 crore are given below:
| Tenure | Interest Rates (p.a.) |
|---|---|
| 7 to 30 days | 2.90% |
| 31 to 45 days | 3.00% |
| 46 to 90 days | 3.25% |
| 91 to 180 days | 4.00% |
| 181 to 270 days | 4.40% |
| 271 days to less than a 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 5 years | 5.30% |
| 5 years to 10 years | 5.30% |
Note: The interest rates are effective since 10 February 2022 and can be changed as per the bank’s rules and regulations.
J&K Grameen Bank Fixed Deposit Interest Rates for Deposits of Rs.5 Crore and Above
The interest rate for J&K Grameen Bank fixed deposit for deposits of Rs.5 crore and above are mentioned below:
| Tenure | Interest Rates (p.a.) |
|---|---|
| 7 to 15 days | 2.75% |
| 16 to 30 days | 2.85% |
| 31 to 60 days | 3.00% |
| 61 to 90 days | 3.10% |
| 91 to 180 days | 3.25% |
| 181 to 270 days | 3.25% |
| 271 days to less than a year | 3.75% |
| 1 year to 5 years | 4.00% |
Note: The interest rates are effective since 10 February 2022 and can be changed as per the bank’s rules and regulations.
FAQs on J&K Grameen Bank Fixed Deposit Interest Rates
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Is there any additional interest rate for senior citizens in J&K Grameen Bank fixed deposit scheme?
Yes, senior citizens will get an additional interest rate of 0.50% under the J&K Grameen Bank fixed deposit scheme.
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What is the minimum tenure period for the J&K Grameen Bank fixed deposit scheme?
The minimum tenure period for the J&K Grameen Bank fixed deposit scheme is 7 days.
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Can I prematurely withdraw my deposits within 7 days of opening it under the J&K Grameen Bank fixed deposit scheme?
Yes, you can prematurely withdraw your deposits within 7 days of opening it under the J&K Grameen Bank fixed deposit scheme. However, you will not be entitled to any interest.
