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  • Jammu and Kashmir Bank Car Loan

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  • Get car loans for both old and new cards at attractive rates starting from 9.50% p.a. with Jammu and Kashmir Bank. You can take a loan of up to Rs.50 lakh for a tenure ranging from 1 year to 7 years. The processing fee charged is up to 0.5% of the loan amount.

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    Jammu and Kashmir Bank Car Loan Interest Rate

    Interest Rate
    • 9.50% p.a. to 10% p.a. (floating rate for new cars)
    • 9.75% p.a. to 10.25% p.a. (fixed rate for new cars)
    • 12% p.a. to 13% p.a. (fixed rate for used cars)
    Processing Fee Up to 0.50% of the loan amount + GST

    Car Loan Schemes Provided by Jammu and Kashmir Bank

    Car Loan

    Key Highlights

    • Loans of up to Rs.50 lakh
    • Flexible tenures of up to 7 years
    • Financing of up to 90% of the total cost of the vehicle
    • Women applicants can get a concession of 25% on the interest charged
    • Attractive rates starting from 9.50% p.a.

    Car Loan for Used Cars

    Key Highlights

    • Maximum loan of Rs.15 lakh
    • Flexible tenures of up to 6 years
    • No upfront fee charged
    • Financing of up to 75% of the total cost of the car
    • Fixed rate loan starting from 12% p.a.

    How to Calculate EMI on Jammu and Kashmir Bank Car Loan

    It’s always recommended to calculate your EMI (Equated Monthly Instalment) beforehand so that you can manage your finances in a better way.

    Your car loan EMI (Equated Monthly Instalment) depends on multiple factors, including the loan amount, interest rate, loan tenure, and processing fee. To calculate your monthly instalment amount, you can use BankBazaar Union Bank of India Car Loan EMI Calculator.

    The entire computation process is simple and hassle-free with a quick turnaround time.

    Top Banks’ Car Loan Interest Rate Comparison with the Lowest EMI

    Name of the Bank Interest rate EMI*
    State Bank of India Starting from 9% p.a. Rs.1,609
    Jammu and Kashmir Bank Starting from 9.50% p.a. Rs.1,634
    Union Bank of India Starting from 9.05% p.a. Rs.1,611
    ICICI Bank Starting from 9.30% p.a. Rs.1,624
    Axis Bank Starting from 9.05% p.a. Rs.1,611
    HDFC Bank Starting from 9.65% p.a. (rack interest rate) Rs.1,642
    Central Bank of India Starting from 8.70% p.a. Rs.1,594

    *For calculation purpose, we have taken 7 years as the tenure and Rs.1 lakh as the amount

    How to Apply for Jammu and Kashmir Bank Car Loan

    Step 1: Visit the official website of Jammu and Kashmir Bank.

    Step 2: Under the “Personal” section, click on “Car Loan Scheme”.

    Step 3: Click on “Apply Online” located on the middle right-hand corner of the page.

    Step 4: You will be redirected to another page where you have to fill in the required fields and click on the “submit” button to complete your application.

    Jammu and Kashmir Bank Car Loan Eligibility Criteria

    Age
    • 21 years to 60 years (salaried)
    • 21 years to 70 years (self-employed)
    Type of Employment Salaried or self-employed
    Minimum Income Requirement
    • Rs.3 lakh p.a. (salaried)
    • Rs.4 lakh p.a. (self-employed)
    • Rs.2 lakh p.a. (retired employees of state government or public sector undertakings)

    Documents Required

    For salaried

    • Identity proof
    • Address proof
    • Last 6 months’ salary slips
    • Form 16
    • Last 1 year’s Income Tax Return

    For self-employed

    • Identity proof
    • Address proof
    • Last 3 years’ Income Tax Returns
    • Profit and loss account statements along with balance sheet

    Get car loans at attractive rates and flexible tenures with Jammu and Kashmir Bank. Read the fine print thoroughly before applying to avoid any confusion in the future.

    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.

    Jammu and Kashmir Bank Car Loan Reviews

    • Jammu Kashmir Bank Car Loan
      "Good Service"
      0.5 4.5/5 "Excellent!"
      Being a local bank they always consider the local customers. I've been banking with them for a while. The documentation was really good and they took care of the documentation. Overall it was a good experience with the car loan application. Overall it was a good.
      Was this review helpful? 1
      , srinagar
      Reviewed on May 15, 2018
    • Jammu Kashmir Bank
      Jammu Kashmir Bank Car Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      Applied Car loan with J & K bank . Jammu and Kashmir bank just took 2 to 3 days to disburse my loan. The required loan amount has been approved and disbursed. I am satisfied with the loan amount The rate of interest is nominal with Jammu and Kashmir car loan.
      Was this review helpful? 4
      , jammu
      Reviewed on Aug 12, 2017
    • Jammu Kashmir Bank Car Loan
      "Good Bank"
      0.5 5.0/5 "Blown Away!"
      I had raised my request for my car loan with Jammu And Kashmir Bank, The staffs cooperated with me very well. They were given proper response about my loan. Due to personal issue I was post pond my plan for the next 3 months. In future when I am planning to take car loan, definitely I will approach Jammu And Kashmir Bank for the same.
      Was this review helpful? 0
      , udhampur
      Reviewed on Feb 22, 2017
    • Jammu Kashmir Bank Car Loan
      "Average experience"
      0.5 3.0/5 "Satisfactory"
      I have applied for car loan with J& K bank. Initially they have contacted me for the same, after which they have not followed up on my request. Since it has been an average experience, I would not wish to recommend this bank to others. I am unable to rate them on the charges as I do not remember the same.
      Was this review helpful? 1
      , delhi
      Reviewed on Feb 20, 2017
    • Jammu Kashmir Bank Car Loan
      "Good Experience"
      0.5 4.0/5 "Great!"
      I had applied for my car loan with Jammu And Kashmir Bank through online. I had received calls from the bank, I wanted loan for commercial car, they said they will get back to me, but after that I didn't receive any call from them. They are not giving loan for commercial car, So they denied my application.
      Was this review helpful? 1
      , gurgaon
      Reviewed on Feb 16, 2017
    • Jammu Kashmir Bank Car Loan
      "Good response"
      0.5 5.0/5 "Blown Away!"
      Jammu &Kashmir bank is a good bank in the customer services. I had applied for a car loan and they were quick to contact me and give me information about the loan details. I could not proceed for the loan due to reasons known to me. I do not wish to rate the bank on the interest rate and charges as I have not taken the loan.
      Was this review helpful? 5
      , jammu
      Reviewed on Feb 14, 2017
    • Jammu Kashmir Bank Car Loan
      "smooth..."
      0.5 5.0/5 "Blown Away!"
      This car loan is in my name but my brother is paying the payments. Interest rate would be 12 to 13%, I believe. On and average the Jammu and Kashmir bank processed within three to four days the car loan. Customer service and support was very nice at that time.
      Was this review helpful? 5
      , jammu
      Reviewed on Jan 15, 2016
    • Jammu Kashmir Bank Car Loan
      "Excellent !!!!!"
      0.5 5.0/5 "Blown Away!"
      The service provided in Jammu &Kashmir bank is too good and the employees are also good. They took only 2 days for the disbursing my car loan.Interest rate offered was around 9% they have not charge any processing fee and documentation process was very easy.
      Was this review helpful? 3
      , new delhi
      Reviewed on Sep 21, 2015
    • Jammu Kashmir Bank Car Loan
      "Car loan"
      0.5 5.0/5 "Blown Away!"
      I already had purchased a card from bank , I opted for car loan. The loan was sanctioned in just 2 days at simple interest. No lox charges were charged for the loan and tenure was also 7 years which means my EMI was low , the bank often contacts me regarding the loan and keep me updated , also it informs me about the insurance of the vehicle though I haven't taken insurance from the bank itself
      Was this review helpful? 3
      , srinagar
      Reviewed on Jun 19, 2015
    • Jammu Kashmir Bank Car Loan
      "Very Good"
      0.5 5.0/5 "Blown Away!"
      I took a car loan from Jammu and Kashmir bank.The service is awesome. I just went twice to the bank for the process of the loan with the documents. The loan got approved within 10 days. Jammu and Kashmir is the best bank to take care of the customers.
      Was this review helpful? 4
      , srinagar
      Reviewed on May 14, 2015
    • Jammu Kashmir Bank Car Loan
      "Satisfied with Service"
      0.5 5.0/5 "Blown Away!"
      Car loan with jammu and kashmir bank it was nice experience they approved my loan and disbursed the loan amount in weeks time. Interest rate was 11% it was bit high they would have reduced on that. The customer relationship was best. Overall it was hassle fee service.
      Was this review helpful? 11
      , srinagar
      Reviewed on Oct 24, 2014
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