Jammu & Kashmir Bank Savings Account

Types of Savings Accounts Offered by Jammu & Kashmir Bank:

• Deluxe Savings Account
  • Unlike most other banks which allow only a few charge-free cash withdrawal transactions a month, J&K Bank allows its customers to make up to 15 cash withdrawals, free of charge in a single month.
  • If you are withdrawing money using a withdrawal form, then there is no limit on the number of cash withdrawals which you are allowed to make.
  • As a Deluxe Savings Account holder, you are entitled to an International Gold Debit Card, which will be issued to you, completely free of charge.
  • Enjoy high transaction limits with your International Debit Card which features a daily cash withdrawal limit of Rs 1,00,000 and a daily Point of Sale transaction limit of Rs 1,50,000.
  • This savings account comes with Nomination facility.
  • As we know, it is not always possible for us to visit the bank branch physically. This is why J&K Bank offers its customers e-banking facility, free of charge to facilitate anytime, anywhere banking.
  • Minimum AMB is Rs.50,000.
• General Savings Account
  • With the General Savings Account, customers get to make up to 5 cash withdrawal transaction at their bank branch, free of charge.
  • Experience the ease of making quick, secure and payments and transactions with your Gold Access Debit Card, which is issued with your General Savings Account, free of charge.
  • Enjoy high daily transaction limits with your Global Access Debit Card which features a daily ATM cash withdrawal limit of Rs 40,000 and a daily Point of Sale transaction limit of Rs 1,00,000.
  • With the General Savings Account, customers can also avail the Nomination facility.
  • It isn't always possible for us to visit our bank branch, even if it is for a minor task. To ensure that you can continue banking uninterrupted, J&K Bank offers its customers e-banking facility, free of charge to facilitate anytime, anywhere banking.
  • Minimum AMB of Rs.1,000 without chequebook facility, and minimum AMB of Rs.2,000 with chequebook facility.
• General Small Account
  • The General Small Account is variant of Saving Bank account which has been designed to ensure that banking services are made easily accessible to all segments of the society.
  • In order to open a General Small Account, you will be required to make an initial deposit of a minimum amount of Rs 50. You may also open the account by making payment via banking instruments like a bankers cheque, etc.
  • The maximum balance which one can hold in this account has been capped at Rs 50,000.
  • With the General Small Account, account holders are allowed maximum credits of up to Rs 1,00,000 in their account in a year.
  • For General Small Account holders, the collective total of all fund transfers and withdrawals done in a month must not exceed an amount of Rs 10,000.
  • General Small account holders will be allowed to make up to 4 withdrawals per month.
  • Upon maintenance of an average quarterly balance of Rs 1,000 and above for the past 6 months, General Small Account holders can avail the cheque book facility with their account.
  • The General Small Account also offers account holders with the Nomination facility.
• Student Savings Bank Account
  • No minimum balance needs to be maintained.
  • Rs.50 is the initial deposit that must be made.
  • You can make a maximum of 4 withdrawals in a month.
  • NEFT/RTGS facility will be provided.
  • You can add nominees to the account.
• Basic Savings Bank Deposit Account
  • The initial deposit that must be made is Rs.50.
  • A debit card will be provided at no extra cost.
  • SMS and e-banking facilities will be provided free of cost.
  • 20 cheque leaves will be provided every year at no additional cost.
  • Smart Cards will not be offered under this account.
  • A maximum of four withdrawals can be made in a month.
• Savings Bank Account - Government Departments
  • No minimum balance needs to be maintained.
  • M-banking and e-banking facilities will be provided.
  • Penal charges will not be levied.
• Pension Account
  • No minimum balance needs to be maintained.
  • M-banking and e-banking facilities will be provided.
  • Penal charges will not be levied.

Jammu & Kashmir Bank Minimum Balance Requirements:

Given are the minimum balance requirements for all Savings Accounts offered by Jammu & Kashmir Bank:

Eligibility for Jammu & Kashmir Bank Savings Accounts:

In order to apply for a Savings account with J&K Bank, individuals must conform to the following eligibility criteria.

• Deluxe Savings Account
  • Can be opened by an individual in their own name.
  • Can be opened by one of more individuals in their joint names.
  • Can be opened by organizations, entities, etc., as allowed by the Reserve Bank of India.
  • Can be opened for a minor in his/her parent's / guardian's name.
  • Can be opened by literate minors above the age of 10 years.
  • undefined
• General Savings Account
  • Can be opened by an individual in their own name.
  • Can be opened by one of more individuals in their joint names.
  • Can be opened by organizations, entities, etc., as allowed by the Reserve Bank of India.
  • Can be opened for a minor in his/her parent's / guardian's name.
  • Can be opened by literate minors above the age of 10 years.
• General Small Account
  • Can be opened by an individual, including pensioners.
  • Can be opened by more than one person under their joint names.
  • Can be opened by literate minors above the age of 10 years.
• Student Savings Bank Account
  • Only students can open an account.
• Basic Savings Bank Deposit Account
  • Artisans, Vendors, Small Shopkeepers, Housewives, Students, Unemployed Youth, etc. can open an account.
• Savings Bank Account - Government Departments
  • All State, Central Government Departments, and other Government Corporations/Undertakings that exclusively bank with Jammu & Kashmir Bank can open an account.
  • The RBI guidelines must be met in order to open an account.
• Pension Account
  • Union Territories of Ladakh and Jammu and Kashmir pensioners can open an account.

Documentation Required:

1. Following are the documents which one is required to submit in order to apply for a Savings Account with J&K Bank.
2. Duly filled Application Form.
3. Depositor(s) photograph (2)
4. All documents to be provided as per the KYC norms.
5. Copy of Pan Card / Form 60 or Form 61
6. Any other documents beside the aforementioned which is applicable/required for application by minors, etc.

GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.