Jammu And Kashmir Bank Limited or (J&K), a state-owned bank, was founded on October 1, 1938, and began operations on July 4, 1939, in Kashmir (India). It provides banking services in three key divisions: support services, treasury services, and third-party services. The bank is divided into four segments, and they are - Treasury, Corporate/Wholesale banking, Retail banking, and other banking operations.
The Jammu & Kashmir (J&K) Bank was established in 1938 by Maharaja Hari Singh. It is the universal bank of the state of Jammu & Kashmir and in other parts of the country it acts as a specialized bank.
The J&K Bank operates 726 ATMs and 833 branches in places across India. The different banking and financial services offered by the bank include retail banking solutions, corporate banking solutions, loans, credit cards, mutual funds, fixed deposits, recurring deposits etc.
The term deposit and recurring accounts from the Jammu & Kashmir Bank offer high interest rates, flexibility and a variety of other features that make them very beneficial to the customers.
In fact, the bank offers a wide range of deposit schemes that cater to the needs of all kinds of customers. The recurring deposit accounts from J&K Bank offer higher flexibility in terms of deposit tenure and amount, allowing the customers to save money with ease.
The features and benefits of the J&K Bank Recurring Deposit Account are as follows:
A Recurring Deposit account with Jammu & Kashmir Bank can be opened by:
The Interest Rates offered by the J&K Bank on term deposits below Rs 1 crore ranges from 8.00%, for a period of 6 - 9 months, to 8.75%, for a period of 1 - 3 years. These rates apply to both fresh deposits and renewals. The interest rates on term deposits of Rs 1 crore to Rs 5 crores ranges from 8.25%, for a period of 6 - 9 months, to 8.45%, for a period of 1 - 3 years. These rates also apply to both fresh deposits and renewals. Senior Citizens above the age of 60 earn an additional interest rate of 0.5% on term deposits of all tenures.
The recurring deposit account comes with flexible tenures of 6 months - 10 years.
Yes. You can open a Recurring Deposit account jointly with your husband.
Yes, you can withdraw the deposit amount prematurely by paying a certain amount of money as a penalty.
Yes, there is a minimum monthly instalment amount of Rs 50 and after that customers can invest more in multiples of Rs 5.
Yes, senior citizens above the age of 60 earn an additional interest rate of 0.5% on term deposits of all tenures
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