Jammu and Kashmir Bank Recurring Deposit Interest Rates 2020

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

• 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.

Get the Best Rates for a J&K Bank Recurring Deposit

J&K Bank offers a regular recurring deposit scheme at attractive interest rates, which is compounded on a quarterly basis. Customers can open a J&K recurring deposit account with a minimum monthly amount of Rs. 50 which can be increased in multiples of Rs.5. The interest rate is fixed for the entire recurring deposit tenure. The deposit terms generally range from 6 months to up to 10 years. The interest for a recurring deposit scheme is generally paid out after the maturity of the deposit. Individuals, minors, partnership firms, associations, trusts, private and public listed companies, HUFs are eligible to open a J&K recurring deposit account. J&K Bank also offers the loan facility on a recurring deposit account for up to 90% of the deposit amount.

Jammu & Kashmir Bank - Short Term Recurring Deposit Interest Rates

As short term recurring deposits, customers can open accounts with tenures ranging from 6 months to up to three years. The interest rate offered varies depending on the amount deposited by the customer as follows -

1. For Recurring Deposit Amounts Lesser than Rs. 1 crore -

   The interest rate offered for J&K recurring deposit accounts with tenures ranging from 6 months to 9 months is 7.50%. For a recurring deposit account with a tenure starting from 9 months to up to 1 year, the interest rate given is 7.75%. The interest rate given by J&K Bank for recurring deposit accounts with tenures from 1 to 3 years is 8.00%.

2. For Recurring Deposits of Rs. 1 crore and below Rs. 5 crores -

   The interest rate offered for J&K recurring deposit accounts with tenures ranging from 6 months to 9 months is 7.25%. For a recurring deposit account with a tenure starting from 9 months to up to 1 year, the interest rate given is 7.50%. The interest rate given by J&K Bank for recurring deposit accounts with tenures from 1 to 3 years is 7.75%.

3. For Recurring Deposits of Rs. 5 Crores or more -

   The interest rate offered for J&K recurring deposit accounts with tenures ranging from 1 year to 3 years is 7.75%. For a recurring deposit account with a tenure of above 3 years, the interest rate given is also 7.75%.

J and K Bank - Medium and Long Term Recurring Deposit Interest Rates

Customers can open medium and long-term recurring deposit accounts with tenures ranging from 3 years to up to 5 years. The interest rate offered varies depending on the amount deposited by the customer as follows -

1. For Recurring Deposit Amounts lesser than Rs. 1 crore -

   The interest rate offered for J&K recurring deposit accounts with tenures ranging from 3 years to 5 years is 8.00%.

2. For Recurring Deposits of Rs. 1 crore and below Rs. 5 crores -

   The interest rate offered for J&K recurring deposit accounts with tenures ranging from 3 years to 5 years is 7.75%.

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 8.25% and for a tenure of 9 months it is 8.25% 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 is 8.60%. Customers can get an interest rate of 8.50% for senior citizen recurring deposit accounts with tenures between 5 years and 10 years.

Interest Rates for Senior Citizens -

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 -

1. For a NRE Recurring Deposit Amounts below Rs. 1 crore -

   The interest rate offered for a NRE recurring deposit account with tenures ranging from 1 year to below 3 years is 8.00%. For a recurring deposit account with a tenure starting from 3 years to up to 5 years, the interest rate given is 8.00%. The interest rate given by J&K Bank for a NRE recurring deposit account with tenures from 5 to 10 years is 7.75%.

2. For a NRE Recurring Deposits of Rs. 1 crore and below Rs. 5 crores -

   The interest rate offered for a NRE recurring deposit account with tenures ranging from 1 year to below 3 years is 7.75%. For a recurring deposit account with a tenure starting from 3 years to up to 5 years, the interest rate given is 7.75%. The interest rate given by J&K Bank for a NRE recurring deposit account with tenures from 5 to 10 years is 7.50%.

3. For a NRO Recurring Deposit Amounts below Rs. 1 crore -

   The interest rate offered for a NRO recurring deposit account with tenures ranging from 6 months to up to 9 months is 7.50%. For a recurring deposit account with a tenure of above 9 months to up to 1 year, the interest rate given is 7.75%. The interest rate given by J&K Bank for a NRO recurring deposit account with tenures from 1 to 5 years is 8.00%. The interest rate offered for tenures ranging between 5 years and 10 years is 7.75%.

4. For a NRO Recurring Deposits of Rs. 1 crore and below Rs. 5 crores -

   The interest rate offered for a NRO recurring deposit account with tenures ranging from 6 months to up to 9 months is 7.25%. For a recurring deposit account with a tenure of above 9 months to up to 1 year, the interest rate given is 7.50%. The interest rate given by J&K Bank for a NRO recurring deposit account with tenures from 1 to 5 years is 7.75%. The interest rate offered for tenures ranging between 5 years and 10 years is 7.50%.