The Recurring Deposit (RD) scheme offered by Jammu and Kashmir Bank comes with attractive interest rates. The tenure of the RD account ranges from 6 months and 10 years. The rate of interest is fixed and is compounded every quarter. The interest that is generated from the deposits is paid out at the time of maturity. Under the scheme, premature withdrawal is allowed, and loans can be availed against the deposit and the interest that is accumulated in the account. The minimum deposit that must be made in the account is Rs.50.
Interest Rates for deposits less than Rs.2 crore
| Tenure | Rate of Interest (%) | Deposit Type |
|---|---|---|
| 181 days to 270 days | 4.00 | Domestic/NRO |
| 271 days to less than 1 year | 4.50 | Domestic/NRO |
| 1 year and above but less than 2 years | 5.10 | Domestic/NRO/NRE |
| 2 years and above but less than 3 years | 5.20 | Domestic/NRO/NRE |
| 3 years and above but less than 5 years | 5.30 | Domestic/NRO/NRE |
| 5 years and above but less than 10 years | 5.30 | Domestic/NRO/NRE |
- In the case of NRE deposits, the minimum tenure of the scheme is 1 year.
- In the case of Senior Citizens, an additional 0.50% interest rate is provided across all maturities.
Jammu and Kashmir Bank - Senior Citizen Recurring Deposit Interest Rates
The interest rates offered by J&K Bank for recurring deposit accounts opened by Senior Citizens is generally 0.50% more than the regular term deposit rates. This additional interest rate applies to all maturity terms and deposit amounts. For a RD tenure of 6 months, the interest rate offered is 4.50% and for a tenure of 9 months it is 4.50% for senior citizens. For tenures ranging above that, i.e. 1 year to up to 4 years, the interest rate given by J&K Bank ranges between 5.60% and 5.80%. Customers can get an interest rate of 5.80% for senior citizen recurring deposit accounts with tenures between 5 years and 10 years.
Interest Rates for Senior Citizens -
| Tenure | Rate of Interest (%) |
|---|---|
| 181 days to 270 days | 4.50 |
| 271 days to less than 1 year | 5.00 |
| 1 year and above but less than 2 years | 5.60 |
| 2 years and above but less than 3 years | 5.70 |
| 3 years and above but less than 5 years | 5.80 |
| 5 years and above but less than 10 years | 5.80 |
Jammu and Kashmir Bank - NRE Recurring Deposit Interest Rates
J&K Bank also provides the recurring deposit facility to NRIs at competitive interest rates. For NRE and NRO deposits, the interest rates varies depending on the tenure and the deposit amount.
Interest Rates for NRE deposits -
| Tenure | Rate of Interest (%) |
|---|---|
| 1 year and above but less than 2 years | 5.10 |
| 2 years and above but less than 3 years | 5.20 |
| 3 years and above but less than 5 years | 5.30 |
| 5 years and above but less than 10 years | 5.30 |
RD Interest Rate Pages
- United Bank RD Interest Rates
- Uco Bank RD Interest Rates
- Allahabad Bank RD Interest Rates
- Central Bank RD Interest Rates
- Federal Bank RD Interest Rates
- Indian Bank RD Interest Rates
- Andhra Bank RD Interest Rates
- Kotak Mahindra RD Interest Rates
- Syndicate Bank RD Interest Rates
- IOB RD Interest Rates
- City Union Bank RD Interest Rates
- Citybank RD Interest Rates
- Indusind Bank RD Interest Rates
- Corporation Bank RD Interest Rates
- BOM RD Interest Rates
RD Other Pages
- Recurring Deposit Vs. Chit Fund
- Miss to Pay the Recurring Deposit Due
- Difference Between Recurring Deposit and SIP
- Open RD Account through HDFC NetBanking
- RD Account in SBI
- Advantages of Recurring Deposit
- Flexi RD
- SBI Flexi RD Schemes
- Monthly Recurring Deposit
- Co-operative Bank Recurring Deposit
- City Union Bank Recurring Deposit
- Indian Bank Recurring Deposit
- Union Bank Recurring Deposit
- UCO Bank Recurring Deposit
