The Jammu and Kashmir Bank was incorporated in the year 1938. Also known as the J&K bank, the Jammu and Kashmir Bank has its corporate headquarters at Srinagar in Jammu and Kashmir. It is the only private sector bank which performs the banking business of the Central Government. It is therefore known as the RBI agent for banking business. Apart from that, it is the only bank which is designated to collect central taxes for CBDT.
The Jammu and Kashmir Bank was basically established to increase the amount of loan products in the home state. The bank was established to deliver exemplary financial solutions to small and medium enterprises and households. The bank is listed on the BSE and the NSE. The Jammu and Kashmir Bank has a record of consistent dividends and profits for the past several years.
The J&K bank provides a huge plethora of personal banking services which include loans, deposits, credit cards, tax products, mutual funds, non resident banking and many more.
The Jammu and Kashmir Bank Credit Cards include the empowerment credit cards. These credit cards are further categorized into three varieties which include the Blue empowerment credit card, Silver empowerment credit card and the Gold empowerment credit card. The credit limit for these cards varies from one another. The bank also offers add-on credit cards to the customers at a fee of Rs 150.
J&K bank offers credit cards to salaried individuals with an income of above 80,000 and self employed individuals with an income of above 1, 50,000.
The bank offers three types of empowerment credit cards with various limits. The Blue empowerment credit card includes a limit of 25,000, Silver empowerment credit card includes a limit of 50,000 and Gold empowerment credit card has a limit of 1, 00,000.
The bank charges an interest rate of 2.25% per month.
Yes, the bank charges an annual fee of Rs 300.
The bank charges a fee of Rs100 as penalty or late payment fees.
Yes, the J&K bank offers add-on credit cards to customers. It charges an amount of Rs 150/- as add-on card fee.
Yes, the bank offers a grace period of 20-50 days.
The bank charges an amount of Rs250 as renewal fee on credit cards.
|Details of Jammu and Kashmir Bank Credit Card|| ||Credit card interest rate||2.25% per month||Add-on card fee||Rs 150/-||Credit card minimum amount||Rs 25,000/-||Credit card maximum amount||Rs 1,00,000/-||Late fee charges||Rs 100/-||Annual fees||Rs 300/-||Renewal card charges||Rs 250/-|
*Note: All the rates are subject to change, therefore, customers are required to keep on checking the rates from time to time.
In order to offer maximum benefits to its debit card, credit card and e-banking customers, Jammu & Kashmir Bank has signed a MoU (Memorandum of Understanding) with a travel website, Goibibo. As per the terms of the agreement, J&K bank debit card and credit card holders along with e-banking users can avail discounts on international and domestic flight bookings done on Goibibo.com. Users will also be given preferred rates when they book hotel accommodation and bus tickets. The discounts and offers related to this are available on Goibibo.com, where customers can just pick the required coupon from the “Bank Offers” section.
The agreement was signed between Goibibo CEO, Sanjay Bhasin and on the behalf of J&K Bank by Tabassum Nazir, the Vice- President, Strategy and Business Development (S&BD). J&K Bank has taken this new initiative to provide better platforms for customers to conveniently transact. Customers can also benefit from lower travel costs. J&K Bank offers a plethora of banking services inclusive of mobile banking and internet banking services, where customers can make easy fund transfers using IFSC codes and also manage their bank accounts with utmost convenience.
14th October 2015