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  • Jammu and Kashmir Bank Home Loan

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  • Eligible customers can avail housing loans from Jammu and Kashmir bank at attractive interest rates. Loans are given provided at an interest rate that ranges from 8.85% to 9.20%. The processing fee is 0.25% of the loan amount plus applicable GST. The repayment tenure is 30 years for salaried individuals and 20 years for other customers. 

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    We found 1 Jammu and Kashmir Bank Home Loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    8.9% - 9.25% Floating
    0.25% (max. ₹10,000 )
    ₹50L Max
    1 - 30 Years
    What you'll love
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    Fees & Charges
    Good to Know

    J&K Bank offers a housing loan for the purchase or construction of a residential house/flat, and for the purchase of a plot. Additional loan within the overall loan ceiling is also offered for renovation, addition, alteration, and repairs to existing houses or flats. This housing loan can also be availed for the purchase or construction of a second home.

    The maximum tenure offered is 30 years with floating interest rate packages starting from 8.85% p.a. The processing fees charged on the loan is 0.25% of the loan amount + GST with a 50% waiver on the fees for women borrowers (sole and joint borrowers).

    J&K Bank Home Loan Schemes

    Housing Loan

    Key Highlights:

    • Term loan offered for construction/purchase of house/flat with the option of supplementary financing for renovations.
    • Quantum of financing up to 75% offered. Margin is between 10% and 25%.
    • Moratorium period of up to 12 months provided: 12 months for applicants from J&K, 9 months for applicants from other states (for the purpose of constructing a house).
    Interest Rate 8.85% p.a. to 9.20% p.a.
    Processing Fee

    • 0.25% + GST (min.: Rs.5,000; max.: Rs.25,000).

    • 50% waiver for women applicants.

    • No fees charged for loan takeovers.

    J&K Bank Home Loan EMI Calculator

    You can calculate your equated monthly instalments (EMI) towards your home loan by using an EMI calculator. The EMI per lakh on this loan starts from Rs.794.

    On the Home Loan EMI Calculator, enter your loan details including the amount, tenure, interest rate, and processing fees. You even have the option to choose if you’ll be making prepayments on the loan. After entering the details, hit the ‘Calculate’ button to know your EMI. 

    Calculate Your J&K Bank Home Loan Monthly Repayment

    Here is a table showing you what your EMIs could look like for different loan amounts and tenures under this home loan:

      Rs.10 Lakh Rs.20 Lakh Rs.40 Lakh Rs.50 Lakh
    10 years Rs.12,587 Rs.25,173 Rs.50,346 Rs.62,933
    20 years Rs.8,901 Rs.17,802 Rs.35,604 Rs.44,505
    30 years Rs.7,939 Rs.15,877 Rs.31,754 Rs.39,693

    Let’s say that you are applying for the J&K Bank Home Loan for Rs. Rs.10 lakh, Rs.20 lakh, Rs.40 lakh, or Rs.50 lakh at an interest rate of 8.85% p.a. It is imperative that you know the latest J&K Bank home loan interest rates before entering the details in the EMI calculator.

    J&K Bank Home Loan Eligibility Criteria

    Age Min.: 18 years on the sanction date Max.: 70 years
    Nationality Resident and non-resident Indians
    Employment type

    • Salaried/self-employed/businessmen with 3 years’ experience in current profession.

    • Employees of state/central/semi government undertakings/autonomous bodies.

    • Retired employees of state/central government/PSU.

    • Individuals engaged in agricultural and related activities.

    Documents Required for All Home Loan Applicants Under J&K Bank

    • Application form
    • ID proof documents
    • Address proof documents
    • Income documents
    • Property documents

    Contact the bank to know about the specific documents you need to provide to successfully apply for this loan.

    J&K Home Loan FAQs

    1. Does the bank offer fixed-rate home loans?
    2. Currently, the bank offers floating-rate home loans that are pegged to their MCLR with a reset clause of 1 year.

    3. What are the prepayment charges on J&K Bank home loans?
    4. There are no prepayment charges on home loans offered by Jammu and Kashmir Bank floating-rate home loans.

    5. Is the maximum tenure of 30 years applicable to all loan applicants?
    6. No. Salaried employees and professionals can avail a home loan with a maximum tenure of 30 years. However, for all other customers, the maximum tenure offered is 20 years. Other conditions may be applicable.

    7. Will my age be taken into consideration to determine the loan tenure?
    8. Yes. Your age cannot be more than 70 years when your loan matures. Hence, for this purpose, your age will be a determining factor for your loan tenure.

    9. In case of a joint home loan application, how will the age be taken into consideration to compute the maximum eligible tenure?
    10. The youngest borrower’s age can be taken into consideration to calculate the loan tenure, if their contribution towards the EMI will be above 50%.

    11. Is there a moratorium period offered on home loans for the purpose of repairs/alterations/additions, etc.?
    12. Yes. A moratorium period of up to 3 months is provided on home loans for repairs/alterations/additions.

      

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    Jammu and Kashmir Bank Home Loan Reviews

    • Jammu Kashmir Bank Home Loan
      "Best experience"
      0.5 5.0/5 "Blown Away!"
      I have taken a housing loan with Jammu and Kashmir bank, the customer service was very good and they followed up on time. There are no additional charges on preclosure of loan. The loan amount was based on my requirement and the rate of interest was nominal. The tenure period for this loan is 12 years.
      Was this review helpful? 3
      , bangalore
      Reviewed on Apr 30, 2018
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