• Custom Free
     

    Check eligibility

  • Jammu and Kashmir Bank Personal loan

    Loading your search...
  • Jammu and Kashmir Bank offers consumer loans for individuals to give them the chance to purchase consumables that they require.

    • Interest rate for loans offered for as low as 12.45% p.a.
    • Processing fee is set at a maximum of Rs.500 + GST
    • Minimum age of the applicant is 21 years old and maximum age limit is 70 years old.
    More

    Jammu and Kashmir Bank offers personal loans for a variety of purposes at interest rates starting from 10.25%. The maximum repayment tenure varies from scheme to scheme, with 84 months being the highest, and the maximum amount you can borrow is Rs.20 lakh.

    Personal loan details offered by J&K Bank

    Consumer Loan
    Interest Rate 11.75% onwards for salaried employees of State and Central Government, and 12.50% onwards for others
    Loan Amount Up to Rs.75,000, subject to 12 times net monthly income
    Processing Fees Nil
    Tenure 60 months
    Saholiat/Saral Finance
    Interest Rate 12.50% onwards for those who maintain salary accounts with Jammu and Kashmir Bank 13.75% onwards for those who do not have salary accounts with Jammu and Kashmir Bank 14.50% onwards for businessmen, self-employed persons and professionals apart from the salaried class 12.50% onwards for pensioners of the State or Central Government, including family pensioners who maintain pension accounts with Jammu and Kashmir Bank
    Loan Amount Rs.20 lakh or 36 months gross salary, whichever is lower
    Processing Fees Nil
    Tenure 84 months
    Saral/Saholiat Finance Scheme for Pensioners
    Interest Rate 12.50% onwards
    Loan Amount The lower of Rs.3 lakh or 18 months net pension for pensioners under 70 years of age The lower of Rs.3 lakh or 12 months net pension for pensioners who are between 70 and 75 years of age The lower of Rs.2 lakh or 12 months net pension for family pensioners who are under 70 years of age
    Processing Fees Nil
    Tenure 36 months for loans up to Rs.50,000 and 48 months for loans above Rs.50,000
    Laptop/PC Finance
    Interest Rate 11.75% onwards
    Loan Amount Up to Rs.50,000; can be extended up to Rs.1 lakh for the purchase of Mac series of PCs and tablets sold by Apple Inc
    Processing Fees Nil
    Tenure 36 months for loans up to Rs.50,000 and 48 months for loans above Rs.50,000
    Scooty Finance for
    Interest Rate 10.25% onwards
    Loan Amount Up to 85% of the price of the Scooty subject to a maximum of Rs.50,000
    Processing Fees Nil
    Tenure 60 months
    Festival Advance Scheme
    Interest Rate 12.50% onwards
    Loan Amount Rs.5,000 to Rs.75,000
    Processing Fees Nil
    Tenure 10 months
    Smartphone Finance
    Interest Rate 12% onwards
    Loan Amount Rs.10,000 to Rs.75,000 or 12 months net income
    Processing Fees Rs.250
    Tenure 30 months
    Modular Kitchen Finance
    Interest Rate 12% onwards for employees and pensioners of State/Central Government, and 12.50% onwards for others
    Loan Amount Up to Rs.5 lakh or 80% of the price of modular kitchen or 60 months net income, whichever is lower
    Processing Fees 0.50% of the loan amount
    Tenure 72 months for amounts up to Rs.2.5 lakh and 84 months for amounts above Rs.2.5 lakh
    Sahafat Finance Scheme
    Interest Rate 12.40% onwards
    Loan Amount Rs.50,000 to Rs.3 lakh
    Processing Fees Rs.200 + GST applicable
    Tenure 60 months

    Eligibility Criteria for Jammu and Kashmir Bank Personal Loan

    Loan Scheme Eligibility Criteria
    Consumer Loan Must be an employee of the Government, civic bodies, or must be self-employed
    Saholiat/Saral Finance Must be a permanent employee of the State/Central Government, State or Central and Semi-Government Public Sector Undertakings, Autonomous bodies or institutions
    Saral/Saholiat Finance Scheme for Pensioners Must be a pensioner of the State/Central Government who draws pension via Jammu and Kashmir Bank (family pensioners included)
    Laptop/PC Finance Must be a permanent employee of the State/Central Government, State or Central and Semi-Government Public Sector Undertakings, Autonomous bodies or institutions, or An employee of a private organisation, private limited company, reputed establishment or a contractual employee of the State/Central Government, or Government or Semi-Government Undertakings and Autonomous bodies, or A contractual employee of the State/Central Government, or Government or Semi-Government Undertakings and Autonomous bodies, or A teacher under Rehaber-a-Taleem, Jammu and Kashmir Government, or An official under Rehaber-a-Zeerat, Jammu and Kashmir Government, or A pensioner of the State or Central Government who draws salary or pension through Jammu and Kashmir Bank, or A proprietorship concern, self-employed individual or professional, or A regular student of a recognised school, university or colleges
    Scooty Finance for Girls/Ladies Must be a working lady with adequate an regular source of income (employees of Public Sector Undertakings, Government or Semi-Government Undertakings, private companies, Autonomous bodies or reputed establishments, or businesswomen and self-employed women or professionals, or Ladies or girls who are still studying and have no regular income Must be at least 18 years of age and an Indian citizen Must have a valid driving license
    Festival Advance Scheme Must be a permanent employee or pensioner of Central/State Government, or Government or Semi-Government Undertakings and Autonomous bodies who draws salary or pension from Jammu and Kashmir Bank
    Smartphone Finance Must be a permanent employee or pensioner of the Central/State Government, or Government or Semi-Government Undertakings and Autonomous bodies who draws salary through Jammu and Kashmir Bank Must be at least 21 years of age
    Modular Kitchen Finance Must be a permanent employee for at least three years with the State or Central Government, Semi-Government Departments, Autonomous bodies, Public Sector Undertakings, or reputed private or public limited companies, or A self-employed professional such as a lawyer, doctor, engineer or chartered accountant with at least two years’ standing, or A pensioner of the Central or State Government who draws pension through Jammu and Kashmir Bank Must be at least 18 years of age
    Sahafat Finance Scheme Must be a media personnel or journalist who works part-time or full-time (can be an editor, photographer or cameraman, reporter, stringer journalist, photo journalist, or someone in administrative or managerial capacity, accounting, supervisory capacity, etc., or An employee working for media houses or newspapers with daily or weekly or monthly circulation of 2000 copies, or An employee of a newspaper or a media house or a radio channel or a private TV or a magazine with a minimum of three years of service Must have a salary account with Jammu and Kashmir Bank for a minimum of six preceding months before applying for a loan

    Documents Required

    If you are a salaried applicant:

    • ID Proof in the form of a valid passport or PAN card any other valid government ID
    • Address Proof in the form of telephone bill or Aadhaar Card or electricity bill or any other valid proof?as acceptable to the bank
    • Income Proof in the form of salary slips of the past six months, Form 16 of the past three years, letter from your employer or, and Income Tax Returns of the past three years
    • PAN Card
    • Two passport-sized photographs
    • Any other document as requested by the bank

    For non-salaried applicants:

    • ID Proof in the form of a valid passport or PAN card any other valid government ID
    • Address Proof in the form of telephone bill or Aadhaar Card or electricity bill or any other valid proof as acceptable to the bank
    • Income Proof in the form of Income Tax Returns of the past three years
    • PAN Card
    • Two passport-sized photographs
    • Any other document as requested by the bank

    FAQs on J&K Personal Loan

    What can a Jammu and Kashmir Bank personal loan be used for?

    Jammu and Kashmir Bank offers personal loans for a variety of reasons ranging from the purchase of smartphones and PCs to the installation of modular kitchens and the purchase of scooties. Each loan has its own set of regulations for the use of funds. A Consumer Loan from Jammu and Kashmir Bank can be used to procure durable consumer goods such as PCs, laptops, air conditioners, scooters, motorcycles, TVs, VCRs, DVD players, washing machines, refrigerators, generators, cooking appliances, DTH equipment, dish antennae, vacuum cleaners, CD players, geysers, water filters, etc.

    What is the tenure for a Jammu and Kashmir Bank personal loan?

    The tenure of a Jammu and Kashmir Bank personal loan varies based on the kind of scheme you avail. For instance, the tenure of a consumer loan is 60 months, the tenure of the Saholiat/Saral Finance scheme is 84 months, the tenure of the Saral/Saholiat Finance Scheme for Pensioners ranges from 48 months to 60 months based on the profile of the borrower, the tenure of the Smartphone Finance scheme is 30 months, the tenure of the PC/Laptop scheme ranges from 36 months to 48 months based on the amount borrowed, the tenure of the Festival Advance scheme is 10 months, the tenure of the Scooty Finance scheme and the Sahafat Finance Scheme is 60 months, and the tenure of the Modular Kitchen Finance scheme ranges from 72 months to 84 months.

    Are there any fees I must pay when availing a personal loan from Jammu and Kashmir Bank?

    While most of the personal loan schemes offered by Jammu and Kashmir Bank do not have any processing fees, the Smartphone Finance scheme, the Modular Kitchen Finance scheme, and the Sahafat Finance Scheme charge processing fees at Rs.250, 0.50% of the loan amount, and Rs.200 plus GST.

    What are the key factors that determine the interest rate applicable to my personal loan?

    One of the main factors that determine the interest rate applicable to your personal loan is your credit score. Usually, the higher your credit score, the lower your interest rate. The other key factors that determine how much interest you will be paying towards your personal loan include your income and your current liabilities. If you earn a high level of income and have no other or very few financial commitments, you can negotiate with the lender to get a low interest rate.

    What is the maximum amount that can be borrowed through a Jammu and Kashmir personal loan?

    The maximum available to borrowers will depend on the scheme. While the Consumer Loan scheme allows you to borrow a maximum of Rs.75,000 only, the Saholiat/Saral Finance scheme allows you to borrow up to Rs.20 lakh. Each loan scheme has a maximum limit.

        

    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 Personal Loan Reviews

    • Jammu Kashmir Bank Personal Loan
      "Fine service "
      0.5 5.0/5 "Blown Away!"
      The service provided was very good with Jammu&kashmir Bank based on the personal loan process.They are able to process the loan within a days time.The interest rate applied was very less compared with other banks.The charges applied by them is acceptable charges
      Was this review helpful? 17
      , delhi
      Reviewed on Feb 06, 2016
    • Jammu Kashmir Bank
      Jammu Kashmir Bank Personal Loan
      "Quick disbursal!"
      0.5 4.0/5 "Great!"
      I got my personal loan disbursed from J&K bank. As they are having more number of branches, it was easy for me to reach them for queries. Though I applied for a loan amount of 10L, they disbursed the loan amount within 24 hours and I am quite happy with their disbursal!
      Was this review helpful? 18
      , srinagar
      Reviewed on Feb 01, 2016
    • Jammu Kashmir Bank Personal Loan
      "Excellent !!!!!"
      0.5 4.5/5 "Excellent!"
      Jammu and Kashmir bank takes only two days for the personal loan disbursement as it is my salaried account we have to submit only the salaried certificate. . Interest rate charged was 13-14% and they charged only Rs. 1000 for processing fee.
      Was this review helpful? 14
      , jammu
      Reviewed on Nov 20, 2015
    • Jammu Kashmir Bank Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      14% is the rate of interest for the personal laon with the Jammu and Kashmir bank.I can say its the high rate of interest ,I expected around 10% to 12% means it will be good.Before 2 to 3 years the rate of interest was high and now it came to reduced now.The processing charges are nominal with them.
      Was this review helpful? 35
      , jammu
      Reviewed on Jul 22, 2015
    Common Loader Icon
    reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.