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Home Interest Rates

Interest Rates
    

 
 Domestic Term Deposits
 Loans and Advances
 Interest rates on NRI deposits
 

  Interest Rates on Domestic Term Deposits of less than 1 Crore, w.e.f - July 10, 2014.

Maturity Period

Interest Rates Per Annum

7 days to 30 days

4.50%

31 days to 45 days

5.00%

46 days to 90 days

7.00%

91 days to 180 days

7.75%

181 days to 270 days

8.50%

271 days to less than 1 year

8.75%

1 years to less than 3 years

9.00%

3 years to less than 5 years

8.75%

5 years to 10 years

8.25%

    • The above rates are applicable for fresh deposits and renewal of maturing deposits for amounts less than Rs 1.00 Crores.
    • Domestic Term Deposits of Senior Citizens of over 60 years of age shall continue to earn 0.50 % additional rate across all maturities.

Interest Rates on Domestic Term Deposits of 1.00 Cr to less than 5.00 Crores

Maturity Period

Interest Rates Per Annum

07 days to 30 days

6.00%

31 days to 45 days

7.00%

46 days to 90 days

8.25%

91 days to 180 days

8.25%

181 days to 270 days

8.50%

271 days to less than 1 year

8.75%

1 years to less than 3 years

8.75%

3 years to less than 5 years

8.75%

5 years to 10 years

8.25%

  • The above rates are applicable for fresh deposits and renewal of maturing deposits.
  Loans and Advances

PRIME LENDING RATE (PLR) 14.75 % W.E.F. 19.02.2013
BASE RATE 10.25% W.E.F.19.02.2013
Loans and Advances

Interest rate structure for loans & advances for credit limits for Rs 15.00 lacs and above.

1) Risk based interest rates linked to PLR and Base Rate for loans and advances other than those under Agriculture & Allied activities, MSE and CRE Sector

Rating Grade

Interest rate linked to PLR system w.e.f. 19.02.2013

Interest rate linked to Base Rate system w.e.f.19.02.2013

PLR(14.75%) linked Interest rate

Base Rate (10.25%)

1

2

1

PLR-1.00%

BR+3.50%

2

PLR-0.50%

BR+4.00%

3

PLR

BR+4.50%

4

PLR+0.50%

BR+5.00%

5

PLR+1.25%

BR+5.75%

6

PLR+2.00%

BR+6.50%

7 & below

PLR+3.00%

BR+7.50%

2) Risk based interest rates linked to PLR and Base Rate for loans and advances under Agriculture & Allied Activities Sector ;

Rating Grade

Interest rate linked to PLR system w.e.f. 19.02.2013

Interest rate linked to Base Rate system w.e.f.19.02.2013

PLR(14.75%) linked Interest rate

Base Rate (10.25%)

1

2

1

PLR-2.00%

BR+2.50%

2

PLR-1.50%

BR+3.00%

3

PLR-1.00%

BR+3.50%

4

PLR-0.50%

BR+4.00%

5

PLR+0.25%

BR+4.75%

6

PLR+1.00%

BR+5.50%

7 & below

PLR+2.00%

BR+6.50%

3) Risk based interest rates linked to PLR and Base Rate for loans and advances under MSE Sector:

Rating Grade

Interest rate linked to PLR system w.e.f. 19.02.2013

Interest rate linked to Base Rate system w.e.f.19.02.2013

PLR(14.75%) linked Interest rate

Base Rate (10.25%)

1

2

1

PLR-1.50%

BR+3.00%

2

PLR-1.00%

BR+3.50%

3

PLR-0.50%

BR+4.00%

4

PLR

BR+4.50%

5

PLR+0.75%

BR+5.25%

6

PLR+1.50%

BR+6.00%

7 & below

PLR+2.50%

BR+7.00%

4) Risk based interest rates linked to PLR and Base Rate for loans and advances under CRE Sector:

Rating Grade

Interest rate linked to PLR system w.e.f. 19.02.2013

Interest rate linked to Base Rate system w.e.f.19.02.2013

PLR(14.75%) linked Interest rate

Base Rate (10.25%)

1

2

1

PLR

BR+4.50%

2

PLR+0.50%

BR+5.00%

3

PLR+1.00%

BR+5.50%

4

PLR+1.50%

BR+6.00%

5

PLR+2.25%

BR+6.75%

Interest rate STRUCTURE FOR loans and advances UNDER VARIOUS SECTORS WITH credit limits BELOW RS15.00 LACS and loans and advances under Schematic Loan Schemes of the Bank and other loans and advances exempted from the norms of risk based pricing:

 

SECTOR/SCHEME

PLR (14.75%)

Base Rate (10.25%)

 

Interest rate linked to PLR system w.e.f. 19.02.2013

Interest rate linked to Base Rate system w.e.f.19.02.2013

Fixed Interest rate w.e.f 19.02.2013

Agriculture & Allied Activities  including credit facilities under Kissan Credit Card/ GIRI/ Apple Scheme/ Kissan Dost scheme /Zaffran scheme, Agri Term loans/Commercial Floriculture  and other allied activities *

Up to Rs.2.00 lacs

PLR-4.00%

BR+0.50%

NA

Above Rs.2.00 lacs & up to Rs.5.00 lacs

PLR-3.50%

BR+1.00%

Above Rs.5.00 lacs & up to Rs.20.00 lacs

PLR-3.00%

BR+1.50%

Above Rs.20.00 lacs

PLR-2.00%

BR+2.50%

*Note : Interest on short term crop loan upto Rs3.00 lacs will be 9.00% p.a ,under GOI interest subvention scheme .However  it will be subject to notifications of  GOI /Bank from time to time. 

Advances under Special Scheme ( Mortgage Loan ) for Fruit  Commission Agents  

Up to Rs.2.00 lacs

NA

BR+3.50%

NA

Above Rs.2.00 lacs & up to Rs.5.00 lacs

NA

BR+4.00%

Above Rs.5.00 lacs & up to Rs.20.00 lacs

NA

BR+4.50%

Above Rs.20.00 lacs

NA

BR+5.00%

Advances under Special Scheme ( Mortgage Loan ) for Fruit  Merchants of Azadpur Delhi

For all slabs

NA

BR+2.50%

NA

Micro & Small Enterprises   (including craft Development scheme, Khatamband Finance Scheme)
Note: CGTMSE premium for the limits upto Rs10.00lacs will be borne by the bank. 

Up to Rs.2.00 lacs

PLR-1.50%

BR+3.00%

NA

Above Rs.2.00 lacs & up to Rs.15.00 lacs

PLR-1.00%

BR+3.50%

NA

Working capital facilities under JK Bank Contractor Finance Scheme
Note: CGTMSE premium for the limits upto Rs10.00lacs will be borne by the bank. 

Up to Rs.2.00 lacs

NA

BR+3.00%

NA

Above Rs.2 lacs and upto Rs10.00 lacs

NA

BR+3.50%

Above Rs.10.00 lacs to Rs.15.00 lacs

NA

BR+4.00%

Transport Operators (Fresh Vehicles)

Up to Rs.2.00 lacs

NA

NA

13.25%

Above Rs.2.00 lacs and up to Rs.10.00 lacs

NA

NA

14.00%

Above Rs.10.00 lacs

NA

NA

14.75%

Note: CGTMSE premium for the limits upto Rs10.00lacs will be borne by the bank

Transport Operators (2ND Hand Vehicles)

For a period up to 4 years

NA

NA

16.00%

For a period  exceeding 4 years

NA

NA

16.50%

Note: CGTMSE premium for the limits upto Rs10.00lacs will be borne by the bank

Retail Trade

 

Up to Rs.2.00 lacs

PLR-0.50%

BR+4.00%

NA

Above Rs.2.00 lacs & up to Rs.5.00 lacs

PLR

BR+4.50%

Above Rs.5.00 lacs & up to Rs.15.00 lacs

PLR+0.50%

BR+5.00%

Bank finance of sale & manufacture of Gold ornaments/ Jewelry

 

Up to Rs.2.00 lacs

NA

BR+4.00%

NA

Above Rs.2.00 lacs & up to Rs.5.00 lacs

NA

BR+4.50%

Above Rs.5.00 lacs & up to Rs.15.00 lacs

NA

BR+5.00%

Loans and Advances under JK Bank Fair Price Shop Scheme

For all limits up to Rs.10.00 lacs

PLR

BR+4.50%

NA

J&K BANK SARAL FINANCE TO SMALL BUSINESSMEN 

All slabs

NA

NA

13.25%

Working capital facilities  against mortgage backed securities for Trade & Services Sector

Up to Rs.2.00 lacs

NA

BR+4.50%

NA

Above Rs.2.00 lacs & up to Rs.20.00 lacs

NA

BR+5.50%

Above Rs.20.00 lacs

NA

BR+6.00%

Mortgage loans against immovable property

 

Up to Rs.2.00 lacs

NA

BR+3.75%

NA

Above Rs.2.00 lacs and up to Rs.20.00 lacs 

NA

BR+4.25%

Above Rs.20.00 lacs

NA

BR+4.75%

Working capital facilities  against mortgage  backed securities under special scheme for iron & Steel traders of Loha Mandi, Naraina

For limits up to Rs.500.00 lacs

NA

BR +2.00bps for accounts having minimum forced sales value of collateral security at 125% of the sanctioned limit.

BR +3.00bps for accounts having minimum forced sales value of collateral security at 100% of the sanctioned limit.

NA

Working capital facilities  against mortgage  backed securities under special scheme for plastic & grain traders of Sadar Bazaar , Delhi

For limits up to Rs.1000.00 lacs

NA

BR+325bps plus any discount applicable as per scheme.

NA

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

Up to Rs. 5.00 lacs

NA

NA

12.25%

Above Rs5.00 lacs & up to Rs.10.00 lacs

NA

NA

13.25%

Above Rs.10.00 lacs and up to Rs.20.00 lacs

NA

NA

14.00%

Education Loans with tenure  exceeding 5 years( at floating interest rate )

Upto  Rs.5.00 lacs

PLR-3.00%

BR+1.50%

NA

Above Rs.5.00 lacs & up to Rs.10.00 lacs

PLR-2.00%

BR+2.50%

NA

Above Rs.10.00 lacs and up to Rs.20.00 lacs

PLR-0.75%

BR+3.75%

NA

Note: - Concession of 0.50% on interest rate shall continue to be allowed in case of education loans availed by girl students as permitted vide circular No.CR-42-413 dated 06.03.2009.

Passenger buses for Schools / Educational Institutions  at fixed interest rate with repayment of  the loan

For a period up to 7 years

NA

NA

14.25%

For a period exceeding 7 years

NA

NA

14.75%

Car Loans (Fresh Cars) under fixed interest rate option 

For general public

NA

NA

11.25%

For Companies & Firms

NA

NA

11.75%

Car Loans (Fresh Cars) under floating interest rate option

For general public

NA

BR+1.00%

NA

For Companies & Firms

NA

BR+1.50%

NA

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

For a period up to 4 years

NA

NA

15.25%

For a period exceeding 4 years

NA

NA

16.00%

Two wheeler loans under fixed interest rate option   with repayment of the loan

For a period up to 3 years

NA

NA

13.00%

For a period above  3 years

NA

NA

14.00%

Two wheeler loans under floating interest rate option with repayment of the loan

For a period up to 3 years

NA

NA

13.00%

For a period exceeding 3 years

PLR-1.25%

BR+3.25%

NA

Other Consumer Loans 

For all limits

NA

NA

16.00%

JK Bank Laptop/PC Finance

 

NA

NA

11.75%

JK Bank Solar Lighting & Photo Voltaic Finance

 

NA

NA

11.75%

Aan Posh Teli yeli wan posh/Finance for purchase of Domestic LPG Connections

 

NA

NA

10.25%

JK Bank passenger Bus/mini-bus finance(For Doda,Bhaderwah & Kishtwar)

Upto  Rs 2 lacs

NA

NA

10.75%

Above Rs 2 lacs & upto Rs 10 lacs

NA

NA

11.25%

Above Rs 10 lacs

NA

NA

11.75%

Note: CGTMSE premium for the limits upto Rs10.00lacs will be borne by the bank

JK Bank Finance for refurbishing of old passenger Buses/mini buses(For Doda,Bhaderwah & Kishtwar)

 

NA

NA

11.75%

Note: CGTMSE premium for the limits upto Rs10.00lacs will be borne by the bank

JK Bank Scooty Finance Scheme for Girls/Ladies

 

NA

NA

12.75%

JK Bank Dastkaar Finance

 

NA

NA

10.75%

Note: CGTMSE premium for the limits upto Rs10.00lacs will be borne by the bank

JK Bank Construction Equipment finance.

Upto Rs 15.00 lakhs

NA

B.R+3.50%

NA

Above Rs 15.00 Lakhs upto Rs 50.00 lakhs

Risk based interest rate linked to Base rate for loans and advances under MSE sector. However, in the event of non-availability of historical data required for assessment of risk rating, loans exceeding Rs 15.00 lakhs but upto Rs 50.00 lakhs shall be sanctioned at additional interest rate of 1% over & above the rate applicable on loans upto Rs 15.00 lakhs under MSE sector.

Above Rs 50.00 lakhs

Applicable risk based pricing as prescribed for time to time for SME sector.

Note: CGTMSE premium for the limits upto Rs10.00lacs will be borne by the bank. 

Technology Upgradation Scheme for MSEs.

Micro enterprises

PLR-1.25%

BR+3.25

NA

Small enterprises

PLR-0.75%

BR+3.75

NA

 

In case of enterprises where the total exposure(T.L & WC) is above Rs 15.00 Lakhs, the above pricing shall be applicable for the Ist 2 years only after which the pricing shall be linked to Credit rating of the Unit(Risk based Pricing) to induce units to acquire better ratings and thereby to benefit from the most attractive interest rates.

Note:-0.50% discount in the rate of interest shall be given to the women entrepreneurs.

Note: CGTMSE premium for the limits upto Rs10.00lacs will be borne by the bank. 

Loans under Saholiat / Saral Scheme granted to Salaried employees of Central/ State Government (including Rehbar-I-Taleem teachers), Public Sector Undertakings (State and Central), Autonomous Bodies and institutions maintaining salary accounts with the  BU  AND
Central / State Government pensioners maintaining salary accounts with the Bank

NA

NA

15.25%

Salaried employees of Central Government, Central Public Sector Undertakings, Autonomous Bodies and reputed Private Sector Undertakings not maintaining salary accounts with the Bank

NA

NA

16.25%

Professionals / Self Employed Persons & Businessmen

NA

NA

17.25%

Loans under Government sponsored schemes.

For all limits

PLR-1.75%

BR+2.75%

NA

Sher-e-Kashmir Employment & Welfare Programme for the Youth  of J&K   

 

NA

NA

10.75%

Centrally Sponsored scheme  for integrated development of small  Ruminants & rabbits

Upto  Rs 2 lacs

NA

BR+1.25%

NA

Above Rs 2 lacs & upto Rs 5.00 lacs

NA

BR+1.75%

NA

Above Rs 5.00 lacs

NA

BR+2.25%

NA

Housing loans 

Upto Rs25.00 lacs

NA

BR+0.50%

NA

Above Rs25.00lacs and upto Rs75.00 lacs

NA

BR+0.75%

NA

Above Rs75.00lacs

NA

BR+1.50%

NA

Loans and advances to Commercial Real Estate Sector

 

Up to Rs.15.00 lacs

PLR+0.50%

BR+5.00%

NA

 

Loans to land- lords for construction of premises for Bank’s use

 

Up to Rs.20.00 lacs 

NA

NA

15.00%

Above Rs.20.00 lacs

NA

NA

15.50%

Loans under J&K Bank Commercial Premises Finance scheme

Up to Rs.2.00 lacs

NA

NA

14.75%

Above Rs.2.00 lacs and up to Rs.20.00 lacs

NA

NA

15.75%

Above Rs.20.00 lacs

NA

NA

16.25%

Loans under Roshni Scheme

 

 

Up to Rs.20.00 lacs for residential purpose

NA

NA

15.00%

Above Rs.20.00 lacs for residential purpose

NA

NA

16.00%

Loans for commercial purpose for all limits

NA

NA

17.00%

Loans against the security of

 

 

Life Insurance policies, Postal securities (NSCs, KVPs) and other permitted Government securities

PLR

BR+4.50%

NA

Shares/ convertible debentures and other equity linked permitted securities

PLR+2.00%

BR+6.50%

NA

Bills discounted under LCs under fixed interest rate option

 

Bills with usance period up to 180 days

NA

NA

10.25%

Bills with usance period above 180 days and up to 1 year

NA

NA

10.75%

Clean overdrafts  at floating interest rate

 

 

 

TOD

NA

BR+8.50%

NA

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


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

Nature of facility

Margin

Rate of Interest

and advances against bank’s own Term Deposits (including NRE & NRO Term Deposits) standing in the name of the borrower. [Singly, jointly or as guardian , or in the name of partnership firm, Public/Private Ltd Company Trusts or Societies]

10% for advances against term deposits having residual maturity upto 5 (five) years as on date of advance

1.50% above the rate allowed on deposit.

15% for advances against term 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 Individual borrowers against third party term deposits (including NRE & NRO Term Deposits) standing in the name of individuals or entities other than individuals e.g. Partnership Concerns, Societies, Trusts, Public/ Private Ltd Companies etc.

10% for advances against term deposits having residual maturity upto 4 (four) years as on date of advance

2.00% above the rate allowed on term deposit
             OR
Base Rate,  whichever is higher

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 other than individuals e.g. Partnership Concerns, Societies, Trusts, Public/Private Ltd Companies etc. against third party Term Deposits ((including NRE & NRO Term Deposits) standing in the name of  individual or entities other  than individuals e.g. Partnership Concerns, Societies, Trusts, Public/ Private Ltd Companies etc.

10% for advances against term deposits having residual maturity upto 3 (Three) years as on date of advance

2.00% above the rate allowed on term deposit                   OR
Base rate + 1.00%, whichever is higher.

15% for advances against term deposits having residual maturity of more than 3 (three) years but not more than 5 (five) years as on date of advance.

20% for advances against term deposits having residual maturity of more than 5 (five) years but not more than 7 (seven) years as on date of advance.

(III) Loan Against Inter-bank Term Deposits 

Loans & Advances to Scheduled Commercial banks, Co-operative banks and RRB’s against their own term deposits with our bank

10%

1.00% above the rate allowed on term deposit                  

Ad-hoc working capital facilities  (over and above the sanctioned limit)

Ad – hoc  working capital facility allowed for a period  up to  90 days,

2% over and above the rate applicable on regular   working capital limit

Ad – hoc working capital facility allowed for a period exceeding   90 days.

3% over and above the rate applicable on regular   working capital limit.

Loans under differential rate of interest (DRI) scheme

DRI

4.00%

Loans and advances to staff members

All types of loans and advances under staff housing loan scheme, Consumption loan scheme, Raahat scheme , car loan scheme, education loan scheme, loans against deposits and  under other  eligible schemes

As per the interest rate structure notified from time to time  by P&HRD, CHQ

Note: All interest rates will be applicable on monthly basis.


  Interest rates on NRI deposits

1 a) NRE deposits
Revised rates of Interest rates on NRE deposits w.e.f   March 1 ,2014
Maturity period

ROI per annum on NRE deposits of less than Rs. 1.00 crore

ROI per annum on NRE deposits of Rs.1.00 crore to less than Rs.5.00 crores

1 years to less than 3 years

9.00% 8.75%

3 years to less than 5 years

8.75% 8.75%

5 years to 10 years

8.25% 8.25%
  • Above rates are applicable for fresh deposits and renewal of maturing deposits.
  • The minimum maturity period of NRE deposits is 1 year.


1 b)NRO deposits
w.e.f - July 10, 2014

Maturity Period

Domestic Term Deposits of less than Rs.1 Crore, w.e.f - December 27, 2013.

Domestic Term Deposits of Rs.1.00 Cr to less than Rs.5.00 Crores , w.e.f - December 27, 2013.

07 days to 30 days

4.50%

6.00%

31 days to 45 days

5.00%

7.00%

46 days to 90 days

7.00%

8.25%

91 days to 180 days

7.75%

8.25%

181 days to 270 days

8.50%

8.50%

271 days to less than 1 year

8.75%

8.75%

1 years to less than 3 years

9.00%

8.75%

3 years to less than 5 years

8.75%

8.75%

5 years to 10 years

8.25%

8.25%

  • The above rates are applicable for fresh deposits and renewal of maturing deposits. The minimum maturity period of NRE deposit

2) FCNR(B) Deposits: Revised rates applicable for the month of Sept 2014 w.e.f 01.09.2014

Period

1 years <2 years 2 years < 3 years 3 years <4 years 4 years < 5 years 5 years only
USD 2.34

2.71

4.14 4.50 4.77
GBP 2.80 3.24 4.54 4.76 4.92
EUR 2.27 2.29 3.34 3.40 3.51
JPY* 2.19 2.19 3.20  
-
 
-
CAD* 3.47 3.43 4.59  
 
-
AUD* 4.65 4.72 5.86  
-
 
-
( * Deposits for 3 years only)
 

3) RFC  Deposits: Revised rates applicable for the month of Sept 2014 w.e.f 01.09.2014

Period

1 Month < 6 Month 6 Month < 1 Year 1 Year < 2 Year 2 Year < 3 Year

3 Years

USD 0.08 0.16 2.34 2.71 4.14
GBP 0.25 0.35 2.80 3.24 4.54
EUR 0.03 0.11 2.27 2.29 3.34
JPY* 0.04 0.13 2.19 2.19 3.20
 
The revised interest rates shall be applicable on fresh deposits and renewal of maturing deposits.In case NRE Deposits are accepted for maturity beyond three years, with the consent of ALM Department, the rate of interest for maturity period of three years shall apply to such deposits also.
   

 
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