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SAVINGS BANK DEPOSITS

Rate of Interest Per Annum w.e.f.

Deposit Type 11.07.2020

Revised

Domestic/NRO/ NRE Rupee Savings Bank

2.90%
Deposits

DOMESTIC TERM DEPOSITS

Interest Rates on Domestic Term Deposits of less than Rs. 2.00 Crore w.e.f October 11,
2020

Revised Interest
Current Interest Rates per Annum
Maturity Period Deposit Type
Rates per Annum w.e.f October 11,
2020

7 days to 30 days Domestic/NRO 3.00% 3.00%

31 days to 45
Domestic/NRO 3.10% 3.10%
days

46 days to 90
Domestic/NRO 3.75% 3.25%
days

91 days to 180
Domestic/NRO 4.00% 4.00%
days

181 days to 270

Domestic/NRO 4.40% 4.40%
days

271 days to less

Domestic/NRO 4.50% 4.50%
than 1 Year
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1 year to less
Domestic/NRO/NRE 5.10% 5.10%
than 2 years

2 years to less
Domestic/NRO/NRE 5.20% 5.20%
than 3 years

3 years to less
Domestic/NRO/NRE 5.30% 5.30%
than 5 years

5 years to less
Domestic/NRO/NRE 5.30% 5.30%
than 10 years
The above rates are applicable for fresh deposits and renewal of maturing deposits for amounts
less than Rs 2.00 Crores. The minimum contract period of NRE deposits is 1 year.

 
Domestic Term Deposits of Senior Citizens of over 60 years of age shall continue to earn 0.50
% additional rate across all maturities.

The Interest rates applicable for Withdrawable Term Deposits w.e.f May 11, 2021 are as
under:

Maturity Period Deposit Type Current Interest Revised

Rates per Interest Rates
Annum per Annum

7 days to 30 days Domestic/NRO 2.90% 2.90%

31 days to 45 days Domestic/NRO 3.00% 3.00%

46 days to 90 days Domestic/NRO 3.10% 3.10%

91 days to 180 days Domestic/NRO 3.25% 3.25%

181 days to 270 days Domestic/NRO 3.25% 3.25%

271 days to less than 1 Year Domestic/NRO 4.00% 3.50%

1 year to less than 2 years Domestic/NRO/NRE 3.75% 3.75%

2 years to less than 3 years Domestic/NRO/NRE 4.00% 4.00%

3 years to less than 5 years Domestic/NRO/NRE 4.00% 4.00%

5 years to less than 10 years Domestic/NRO/NRE 4.00% 4.00%

The above rates are applicable for fresh term deposits and renewal of maturing term
deposits for amounts of 2.00 Crore to less than 5.00 Crore .The minimum contract period
of NRE term deposits is 1 year.
Domestic Term of Senior Citizens of over 60 years of age shall continue to earn additional
interest rate of 0.50% across all maturities in this segment.
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The Interest rates applicable for Non-Withdrawable Term Deposits w.e.f May 11, 2021 are
as under:

Revised Interest Rates per Annum (Non-

 
 
 
 
Withdrawable)
Maturity Period Deposit Type

 
 
For Rs 2.00 Crs to Above Rs 2.50 Crs to Less
Rs 2.50 Crs than Rs 5.00 Crs

91 days to 180 days Domestic/NRO 3.35% 3.35%

181 days to 270 Domestic/NRO 3.35% 3.35%

days

271 days to less Domestic/NRO 3.60% 3.60%

than 1 year

1 year to less than 2 Domestic/NRO/NRE 3.85% 3.85%

years

2 year to less than 3 Domestic/NRO/NRE 4.10% 4.10%

years

The minimum contract period of NRE Term Deposits is 1 Year.

LOANS AND ADVANCES

BASE RATE 8.50% W.E.F. 10.07.2021

MCLR

Maturity MCLR
Period
w.e.f. Nov 10, 2021 w.e.f. Dec 10, 2021

Overnight 6.50 6.50

One month 6.60 6.60

Three months 6.80 6.80

Six months 7.10 7.10

One year 7.25 7.25

Two years 7.70 7.70

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Three Years 7.75 7.75
 
Following schedule will be followed for arriving at applicable MCLR of the loan:

Floating rate Loans with reset linked to review of MCLR

Loan tenor/ Residual Loan Tenor Applicable MCLR

Upto& including 1 month 1 month MCLR

above 1 month upto& including 3 months 3 month MCLR

above 3 month upto& including 6 months 6 month MCLR

above 6 months 1 year MCLR

For all kinds of fund based working capital facilities including ad-hocs/ TODs applicable
MCLR will be 1 year MCLR
 
Applicable MCLR in case of fixed rate loans

Loan tenor/ Residual Loan Tenor Applicable MCLR

Upto& including 1 month 1 month MCLR

above 1 month upto& including 3 months 3 month MCLR

above 3 month upto& including 6 months 6 month MCLR

above 6 months upto & including 1 year 1 year MCLR

Above 1 year upto & including 2 year 2 year MCLR

Above 2 years 3 year MCLR

The interest rate however will remain fixed for entire tenor of loan
Reset linked to date of disbursement/ renewal/ review of credit facility

In case of loans with reset clause, applicable MCLR will be determined by the frequency of reset
prescribed in the sanction letter for the particular loan and will be applicable as per below structure:-

Applicable MCLR
Reset    Frequency    from   date    of    1st                   disbursement/

renewal/ review

1 Month 1 month MCLR

3 Month 3 month MCLR

6 Month 6 month MCLR

1 year I Year MCLR

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S
SCHEME RATE OF INTEREST
NO

Agriculture & Allied Activities including

credit facilities under Kissan Credit Card/
1 GIRI/ Apple Scheme/Zaffran scheme,
Agri Term loans/Commercial Floriculture
and other allied activities

Up to Rs.2.00 lacs APPLICABLE MCLR+0.50%

Above Rs.2.00 lacs & up to Rs.5.00 lacs APPLICABLE MCLR+1.00%

Above Rs.5.00 lacs & less than Rs.15.00

APPLICABLE MCLR+1.50%
lacs

Rs.15.00 lacs and above As per internal Rating Grade

Advances under Special Scheme (

2 Mortgage Loan ) for Fruit Commission
Agents of J&K

For all slabs (with 50bps concession to

senior borrowers having minimum APPLICABLE MCLR+1.50%
banking relationship of 5 years or more)

Advances under Special Scheme

3 (Mortgage Loan ) for Fruit Merchants of
Azadpur Delhi
 
For all slabs (with 50bps concession to
senior borrowers having minimum APPLICABLE MCLR+1.50%
banking relationship of 5 years or more)

4 J&K Bank Commercial Vehicle Finance

For Fresh connections APPLICABLE MCLR+1.50%

For Existing Customers APPLICABLE MCLR+1.00%

5 Kisan Dost Finance Scheme APPLICABLE MCLR+0.25%

6 Transport Operators (2ND Hand Vehicles)

For a period up to 4 years APPLICABLE MCLR+4.25%

For a period exceeding 4 years APPLICABLE MCLR+4.75%

J&K BANK SARAL FINANCE TO SMALL

7
BUSINESSMEN

All slabs APPLICABLE MCLR+3.25%

Passenger Buses for

 
8 Schools/Educational Institutions at fixed
rate with repayment of the Loan

For a period upto 7 years

Fresh Connections APPLICABLE MCLR+ 1.50%

 
 
 
 
 
 
 
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Existing Connections APPLICABLE MCLR+ 1.00%

 
 
 
 
 
 
 
 
For a period above 7 years

 
 
 
Fresh Connections APPLICABLE MCLR+ 2.50%
 
 
 
 
 
Existing Connections APPLICABLE MCLR+ 2.00%
 
 
 
 
 
 
 
 
Scheme for purchase of Fitness/Wellness
9 APPLICABLE MCLR+ 1.50%
& Health Equipment

10 Other Consumer Loans 3YR MCLR + 3 %

 
11 JK Bank Laptop/PC Finance 3YR MCLR + 2.5 %

12 JK Bank Solar Equipment Finance 3YR MCLR + 3 %

Aan Posh Teliyeli wan posh/Finance for

13 APPLICABLE MCLR
purchase of Domestic LPG Connections

JK Bank passenger Bus/minibus

14
finance(For Doda,Bhaderwah&Kishtwar)

UptoRs 2 lacs APPLICABLE MCLR+1.00%

Above Rs 2 lacs &uptoRs 10 lacs APPLICABLE MCLR+1.50%

Above Rs 10 lacs APPLICABLE MCLR+2.00%

JK Bank Finance for refurbishing of

 
 
 
 
 
 
15 old passenger Buses/mini buses (For APPLICABLE MCLR+2.00%
 
 
 
Doda,Bhaderwah&Kishtwar)

16 JK Bank Dastkaar Finance APPLICABLE MCLR+1.00%

Loans under Saholiat / Saral Scheme

granted to Salaried employees/
pensioners of Central/ State Government
17 (including Rehbar I Taleem teachers),
Public Sector Undertakings (State and
Central), Autonomous Bodies and other
institutions.

Maintaining salary accounts with the

a APPLICABLE MCLR+3.00%
Bank

Not maintaining salary accounts with the

b APPLICABLE MCLR+4.00%
Bank

Professionals (other than salaried class)

c APPLICABLE MCLR+4.00%
/ Self Employed Persons & Businessmen

Central / State Government pensioners,

d including family pensioners, maintaining
pension APPLICABLE MCLR+3.00%

accounts with the Bank

18 J&K Bank Aasayish Finance Scheme

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Upto Rs 2.00 lac APPLICABLE MCLR+2.50%

Above Rs 2.00 lac APPLICABLE MCLR+4.50%

19 Festival Advance Scheme APPLICABLE MCLR+3.50%

Cash Credit scheme for Salaried

20 APPLICABLE MCLR+3.50%
Employees  
21 Skill Loan Scheme APPLICABLE MCLR+3.10%
 
22 Modular Kitchen Finance
 
For Salaried Employees APPLICABLE MCLR+3.00%

For Others APPLICABLE MCLR+3.50%

 
High Density Apple Plantation Finance
23 APPLICABLE MCLR+0.60%
Scheme
 
24 Apiculture Finance Scheme APPLICABLE MCLR+0.50%
 
Loans under Government sponsored
25 APPLICABLE MCLR+2.75%
 
 
 
schemes. (floating) For all Limits

Shere-Kashmir Employment & Welfare

Programme for the Youth of J&K
(fixed) Effective
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
interest rate shall be worked out on the
26 basis of 50 basis points over and above APPLICABLE MCLR+0.50%*
the APPLICABLE MCLR as on date of
sanction. The effective rate so arrived
shall remain fixed for the entire tenor of
the loan
 
Centrally Sponsored scheme for
27 integrated development of small
Ruminants & rabbits

UptoRs 2 lacs APPLICABLE MCLR+1.25%

Above Rs 2 lacs &upto Rs 5.00 lacs APPLICABLE MCLR+1.75%

Above Rs 5.00 lacs APPLICABLE MCLR+2.25%

28 J&K Bank Mini Sheep Farm Scheme APPLICABLE MCLR+1.00%

 
Dairy Entrepreneurship Development
29
 
Scheme (DEDS)
 
Upto Rs 2.00 lacs APPLICABLE MCLR+1.50%
 
 
Above Rs 2.00 lacs & upto Rs 5.00 lacs APPLICABLE MCLR+2.00%
 
Above Rs 5.00 lacs & upto Rs 20.00 lacs APPLICABLE MCLR+2.50%
 
Above Rs 20.00 lacs APPLICABLE MCLR+3.50%
 
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Loans to land lords for construction of
30
premises for Bank’s use

Up to Rs.20.00 lacs APPLICABLE MCLR+4.25%

Above Rs.20.00 lacs APPLICABLE MCLR+4.75%

JK Bank ATV/ Snowmobiles Finance

31 APPLICABLE MCLR+2.00%
Scheme

Fixed rate of Interest @ 10.00% p.a (APPLICABLE

 
TILL
31.03.2020)

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
32 LOAN AGAINST GOLD AND JEWELLERY One Year MCLR + Spread = 10.00%
p.a FEMALE BORROWERS

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
/JOINT ACCOUNT HAVING ONE MEMBER AS
FEMALE TO GET 50 BPS CONCESSION.

32 HELP TOURISM 3YR MCLR

External Benchmark/ Repo Linked Lending Rate (RLLR)

Existing RLLR Revised Rate w.e.f December 01, 2021.

 
7.20% 6.95%
 
 
S.No. Scheme Description
 
1 Micro and Small Enterprises(Floating)
 
1.1 Upto Rs 15.00 Lacs RLLR+3.00%

1.2 Rs 15.00 Lacs and above As per Risk Rating

2 Retail Trade(Floating)
 
2.1 Upto Rs 2.00 Lacs RLLR+3.00%

2.2 Above Rs 2.00 Lacs upto Rs 15.00 Lacs RLLR+3.50%

2.3 Rs 15.00 Lacs and above As per Risk Rating

3 Housing Loans (Floating Rate)

 
3.1 Housing loans qualifying for priority Sector Classification RLLR

3.2 Upto Rs 100.00 lac ( Non-Priority) RLLR+0.10%

3.3 Above Rs 100.00 lac to Rs 300.00 lac RLLR+0.25%

3.4 Above Rs 300.00 lacs RLLR+0.40%

4 Housing Loans under CRE (Floating Rate) RLLR+3.50%

5 Home Loan-Top Up Finance Scheme (Floating Rate) RLLR+2.00%

6 Car Loans ( Fresh Cars) under floating rate option

 
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6.1 For General Public RLLR+0.75%

6.2 For Companies & Firms RLLR+1.25%

 
7 Car Loans ( Fresh Cars) under fixed interest rate option

 
7.1 For General Public RLLR + 1.50%

7.2 For Companies & Firms RLLR + 2.00%

 
Car Loans (2nd Hand Cars) under fixed interest rate option
8
with repayment of the loan

 
8.1 For a period up to 4 years RLLR +3.75%

8.2 For a period exceeding 4 years RLLR +4.75%

9 Two wheeler loans under fixed interest rate option RLLR +2.00%

10 Two wheeler loans under floating interest rate option RLLR +1.50%
 
Education Loans with tenure exceeding 5 years( Floating
11
rate)

 
11.1 Upto Rs 10.00 lacs RLLR+1.50%

11.2 Above Rs 10.00 lacs and upto Rs 20.00 lacs RLLR+2.25%

11.3 Above Rs 20.00 lacs RLLR+2.75%

Education Loans with tenure up to 5 years ( at fixed interest

12
rate)

 
12.1 Up to Rs. 10.00 lacs RLLR+ 2.00%

12.2 Above Rs.10.00 lacs and up to Rs.20.00 lacs RLLR +3.00%

12.3 Above Rs.20.00 lacs RLLR +3.50%

Working capital facilities under JK Bank Contractor Finance

13
Scheme (Floating rate)
 
13.1 Up to Rs.2.00 lacs RLLR +3.00%

13.2 Above Rs.2 lacs and less than Rs.15.00 lacs RLLR +3.50%

13.3 Rs.15.00 lacs & above As per Risk Rating

14 J&K Bank Oil Tanker Finance Scheme (Floating rate) RLLR +0.20%

Bank finance of sale & manufacture of Gold ornaments/

15
Jewelry (Floating rate)
 
15.1 Up to Rs.2.00 lacs RLLR +3.00%

15.2 Above Rs.2.00 lacs &less than Rs.15.00 lacs RLLR +3.50%

15.3 Rs.15.00 lacs & above As per Risk Rating

Loans and Advances under JK Bank Fair Price Shop Scheme

16 RLLR +3.50%
(Floating rate)

JK Bank Easy Working Capital Finance Scheme for Trade &

17 RLLR +2.00%
Services Sector (Floating rate)

18 Loan against a property (LAP) (Floating rate) RLLR +2.00%

JK Bank Easy WC finance for textile traders of Surat

19 RLLR + 3.00%
(Floating rate)
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Working capital facilities against mortgage backed securities
20 under special scheme for iron & Steel traders of LohaMandi,

 
Naraina

For accounts having minimum forced sale value of collateral

20.1 RLLR +1.25%
security at 125% of Sanction Limit

For accounts having minimum forced sale value of collateral

20.2 RLLR +2.00%
security at 100% of sanction limit

Working capital facilities against mortgage backed securities

21 under special scheme for plastic & grain traders of Sadar

 
Bazaar , Delhi

21.1 For limits up to Rs.1000.00 lacs RLLR +3.25%

22 Startup Finance Scheme RLLR

 
23 Start Again-Finance scheme for retired employees

 
 
23.1 Loans upto Rs 15.00 lac RLLR

23.2 Loans above Rs 15.00 lac As per Risk Rating

24 JK Bank Construction Equipment finance (floating Rate)

 
24.1 Less than Rs 15.00 lakhs RLLR +2.50%

24.2 15 lakh and above As per Risk Rating

Technology Upgradation Scheme for MSEs. Less than

25
Rs15.00 lacs (Floating Rate)

 
25.1 Micro enterprises (as per MSE) RLLR +3.25%

25.2 Small enterprises (as per MSE) RLLR +3.75%

26 Muhafiz Finance Scheme ((Floating Rate) RLLR

27 Sahafat Fianance Scheme

 
27.1 Term Loan RLLR +3.10%
 
 
 
27.2 Cash Credit RLLR +3.10%
 
 
 
28 Coaching Fee Loan Scheme (Floating Rate) RLLR +2.00%

29 J&K Bank Karobar Finance Card (Floating Rate) RLLR +1.00%

30 J&K Bank Weavers Mudra Scheme (Floating Rate) RLLR +3.00%

31 Loans Against Rental Discounting (LRD) (Floating Rate) RLLR +2.50%

32 J&K Bank Channel Finance Scheme (Floating Rate)

 
32.1 Tangible Collateral (0%) RLLR +1.50%
 
 
32.2 Tangible Collateral (Min 25%) RLLR +0.75%
 
 
 
32.3 Tangible Collateral (Min 50% & Above) RLLR +0.50%

33 Loans against the security of:-

 
Life Insurance policies, Postal securities (NSCs, KVPs)
33.1 RLLR +4.00%
 
 
 
 
 
 
 
and other permitted Government securities
 
 
Shares/ convertible debentures and other equity linked
33.2 RLLR +6.50%
permitted securities
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34 Health Plus Scheme(Floating) RLLR+2.50%
Note:

· Concessions stipulated in various schemes over and above the general interest rates shall
 
 
 
continue to remain in force.

·    Rate of interest on the fixed rate loans at the time of disbursement/ renewal/ review will not be
lower than the MCLR of respective maturity. The interest rate however will remain fixed for entire
tenor of loan

(I)  Loan  Against  Bank’s  Own Term  Deposits   (including NRE &  NRO Rupee
 Term

Deposits) to DEPOSITORS

     

Nature of facility Margin Rate of Interest

     

Loans and advances against 10% for advances against term 1.50% above the
bank’s own Term Deposits deposits having residual maturity rate allowed on
(including NRE & NRO Term upto 5 (five) years as on date of deposit.
Deposits) standing in the name advance
of the borrower. [Singly, jointly
or as guardian , or in the name  
of partnership firm,
Public/Private Ltd Company
15% for advances against term
Trusts or Societies]
deposits having residual maturity
of more than 5 (five) years as on
date of advance

(II)  Loan  Against  Bank’s  Own  Term  Deposits  (including NRE & NRO Rupee
Term

Deposits) to THIRD PARTY

     

Nature of facility Margin Rate of Interest

     

Loans and Advances to 10% for advances against term 2.00% above the
Individual borrowers against deposits having residual maturity rate allowed on
third party term deposits upto 4 (four) years as on date of term deposit
(including NRE & NRO Term advance
Deposits) standing in the name OR

of individuals or entities other Applicable MCLR,

than   individuals e.g. whichever          is

Partnership    Concerns, higher

Societies, Trusts, Public/ Private
Ltd Companies etc.
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15% for advances against term
deposits having residual maturity
of more than 4 (four) years but
not more than 6 (six) years as on
date of advance.

 
20% for advances against term
deposits having residual maturity
of more than 6 (six) years as on
date of advance.
 
 
 
Loans & Advances to entities 10% for advances against term 2.00% above the
other than individuals e.g. deposits having residual maturity rate allowed on
Partnership Concerns, upto 3 (Three) years as on date term
 
 

Societies, Trusts, Public/Private of advance deposit

Ltd Companies etc. against OR

 
 
 
third party Term Deposits  
((including NRE & NRO Term Applicable
Deposits) standing in the name

 
15% for advances against term MCLR

of individual or entities other

 
deposits having residual maturity + 1.00%,
 
than individuals e.g. whichever is
of more than 3 (three) years but
 
Partnership higher.
not more than 5 (five) years as
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Concerns,
on date of advance.
 
 

20%   for   advances   against

 term

     

Societies, Trusts, Public/ Private

deposits having residual maturity
Ltd Companies etc. of   more   than   5   (five)   years
but not more than 7 (seven)
years as on date of advance.

(III) Loan Against Inter-bank’s Term Deposits

     

Loans & Advances to Scheduled 10% 1.00% above the

Commercial banks, Co- rate allowed on
operative banks and RRB’s term deposit
against their own term deposits
with our bank

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