• Exclusive scheme providing hassle free credit for the conversion of residential properties into tourist guest houses (renovation/refurbishment only)

• The house should be owned by the borrower, suitably located and having a motorable approach. The house should not be more than 15 years old.
• Proper registration with the Tourism Department, J&K Government, and permission for the conversion/ renovation/ refurbishment from Municipality/ concerned authority, wherever necessary. - The guest house should be managed by the owner himself. - The prospective borrower required to submit proper estimates/project report for the renovation/refurbishment plan for the proposed guest house to assess the viability. T
• The renovation/refurbishment should be completed within a period of three months from the date of first disbursement. - The existing hotels/guest houses already registered with the Tourism Department not come under the purview of this scheme.

• Maximum: Rs.50,000/= per room and Rs.10.00 lacs per guest house.

• Cost on account of renovation, painting, bedding, furniture, dinning table, flooring, crockery, cutlery, colour television etc., required for renovation/refurbishing of the house.

• Primary: Hypothecation of all furniture fittings and other movable assets of the guest house.
• Collateral: Upto Rs.2.00 lacs: Third party guarantee of two persons having sufficient means to withstand the liability. Above Rs.2.00 lacs: Mortgage of the house property/guest house.

• 30%

• PLR

• 6 months.

• To provide adequate and timely credit for comprehensive requirements of Apple growers to take care of Production & Marketing Costs involved in case of their own orchards and also for those acquired on lease

• The facility shall be available for meeting the following costs: Production Costs, which includes:
  • Cost of Fertilizer
  • Cost of Fungicides, Pesticides, etc.
  • Cost of Fertilizer/Fungicides Application & Watch and Ward Marketing
  • Costs, which includes:
  • Cost of Shooks
  • Cost of Packing Material
  • Cost of Picking, Packing & Grading Carriage Charges.

• Cash Credit /SOD
• SOD

• All Persons engaged in Production & Marketing of Apples, including the Small & marginal farmers.

• The amount of finance to be provided under the scheme shall be based on the following estimate worked out for an acre of apple orchard.
• Production Cost. 40,000
• Marketing Cost 1,01,000.
• Post Harvest Maintenance cost * 9,000.
• Total costs. 1,50,000.
• The post harvest maintenance cost/finance disbursed in the month of Oct/Nov every year.

• Primary: Hypothecation of fruit crop
• Collateral: Upto 2 Lacs Third Party Guarantee of 2 persons Above 2 Lacs Mortgage of own orchards/ Mortgage of equivalent immovable property

• Rs 400/- (upfront in case of Third Party Guarantee)
• Rs 500/- (upfront in case of Mortgage).

• 25%.

• To provide adequate and need based financial assistance for cultivation of saffron. The term loan shall cover the entire plantation & production costs including plant material, agricultural machinery, labour, etc. Post-harvest & Packaging costs shall also be covered

• Agricultural Term Loan

• All saffron growers including small, marginal & large farmers including contract farmers engaged in cultivation of saffron or intending to commence the cultivation of saffron.

• The loan amount under the scheme will be granted on the basis of operational land holding under/for saffron cultivation and the unit cost fixed for cultivation of saffron, which shall be as follows:

• As the returns start from the end of the second season, finance is required by the growers to take care of costs incurred in the first & second year only. Accordingly, the quantum of finance has been calculated to take care of financial requirements of 1st and 2nd year only.
• Minimum unit size to be financed under the scheme will be 5 Kanals. The unit-sizes indicated in Table-above are of standard sizes. However, in actual cases the unit size can be of varied sizes. The unit cost of the farms should therefore be calculated in proportion to the unit cost prescribed in the Table.
• In addition to the above costs, finance to take care of Packaging costs @Rs 10,000 per H.a. shall be provided to the grower. This portion of the finance shall not be considered for calculating the Margin money.

• Minimum -                 Rs 0.50 Lacs

• Maximum -                Rs 10.00 Lacs.

• The loan facility sanctioned under the scheme shall be disbursed in 2 installments in the following order:
  First Installment:   During Year 1(March –September)          60% of Loan Amount
  Second Installment: During Year 2(March –September) -      40% of Loan Amount
• However, additional finance of Rs 10,000 per acre for packaging and other related expenditures shall be disbursed at the time of harvest for every productive year during the term of loan and shall not be part of the disbursement schedule described above

• 4 years from the date of first disbursement with an initial moratorium of 6 months.

• Farmers availing credit under the product can be granted fresh loan facility after completion of 4 years from the date of first disbursement and adjustment of the earlier facility in full in order to enable them to take up fresh plantation of the crop.

• Rs 400 /-to be paid upfront in case of Third Party Guarantee
• Rs 500/- to be paid upfront in case of Mortgage

• To provide finance to occupants desirous of acquiring freehold rights of the land under their occupation, as per the SRO-64 dated 5th March 2007, issued by Govt of Jammu & Kashmir.

• Term Loan

• Permanent residents of J&K State/Educational, religious, charitable, non-profitable, social institutions/trusts/societies, political parties recognized by election commission of India, etc who have to pay a certain sum to the State Government for acquiring freehold rights of the state land under their occupation in response to a notice from Deputy Commissioner of the concerned district or from any other authorized official of State Govt.  under Sec.8 (3) of J&K State Land (Vesting of ownership to the occupants) Act 2001.

• 3 times net annual income of the borrower subject to the condition the home take income, after including the deductions on account of this loan also, is at least 40% of the gross income. Income of the family i.e. spouse and other natural successors can also be considered for working out the quantum of finance, subject to the stipulation of 40% minimum home take income for the family’s gross income. 

• The maximum finance under this product shall be the amount of total payment to be made as per the Govt.notice under Sec 8 of J&K State Land Act, 2001 received by the occupant and the incentive rebate or penalty applicable to the occupant in accordance with the Fixation of price (Annexure-I) & Incentive /penalty for payments (Annexure-2) prescribed under the Govt. notification under SRO-64, subject to stipulations of Quantum of finance prescribed above.

• 10% on the amount to be paid for acquiring the freehold rights after incorporating the incentives/penalties applicable to the occupant

• For Residential use:
  Upto 20 lacs:                     13%
  Above 20 lacs:                   14%
• For Commercial use:       15.50%

• Primary: Mortgage of the land and the assets thereon.
• Collateral: Guarantee by family, i.e.spouse and natural successors in case their income has been considered for working out the quantum of finance and the repayments

• 60 Equal Monthly Installments.

• Nil

• Allowed subject to prepayment penalty @1% on the pre-paid amount

• For Commercial Occupants          0.25% of loan amount.
• For residential use                      0.01% of the loan amount or Rs 10000/= whichever is less. 

• The total amount including the margin will be paid to the concerned Dy. Commissioner against a receipt and the delivery of the title to the land in favour of the occupant.

• Term Loan

• To provide adequate and timely credit for comprehensive requirements of Artisans & Craftsmen, etc.

• All Artisans, Craftsmen and other people aged 18 to 55 years, associated with below-mentioned activities:
  • Artisans, which shall include:
    • Namda Sazs/ /Wood Carvers/ Fur Garments/Leather Garments/Paper Machine Makers/ Willow Wickers.
  • Copper Smiths
  • Kangdi Makers
  • Tailors/Boutique

*However, Branch Heads can identify other activities in their respective service areas and apply for inclusion of these activities within the ambit of this product.

*Carpet –Weaving, Kani-Shawl weaving & Shawl Embroidery are not financed under this product, as a separate product “JKBank Dastkar Finance” has already been introduced for these activities.

• Comprehensive insurance of hypothecated assets

• 0.05% of the amount sanctioned with a minimum cap of Rs 25/- to be paid upfront

• 2 ½ years with repayment schedule as prescribed above.

• Term Loan / Working Capital Term Loan (WCTL)

• To provide adequate and timely credit for comprehensive requirements of Artisans & Craftsmen, etc.

• All Artisans, Craftsmen and other people aged 18 to 55 years, associated with below-mentioned activities:
  • Carpet Weaving
  • Shawl Embroidery
  • Kani Shawl Weaving.

• The Quantum of finance, Moratorium Period and the Repayment Schedule for each of these activities shall be as follows

• Hypothecation of SIP / FG & Cover under Credit Guarantee Fund Scheme of CGTSI

• 10% both for TL and WCTL

• Comprehensive insurance of hypothecated assets.

• Upfront Guarantee fee 1.5% , Annual Service Fee 0.75%
  (to be borne by borrower not having Artisan Card of Dir. Handicrafts.

• 0.05% of the amount sanctioned with a minimum cap of Rs 25/- to be paid upfront.

• 10% Fixed *The rate of interest shall be applied with quarterly rests.

• WCTL to be repaid bullet after moratorium
• TL in 24 EMIs after moratorium. Interest for moratorium to be capitalized.

• Cash Credit /SOD facility

• To provide adequate and hassle-free working capital finance to Walnut kernel Traders for taking care of the expenses involved in procuring and sales of kernels.

• All Persons engaged in trade of Walnut kernels & having previous experience/track record.

• 40% of the projected sales turnover or 60% of the forced value of the property offered for mortgage, whichever is lower.
• Projected sales turnover must be supported by the actual turnover through the account, which should be at least 50% of the projected sales turnover.
• Borrower must also submit Audited Financial statements/ Exporters Statement/ previous Watak Report or Challan of Transport to support the projected sales turnover.

• 25% of the limit sanctioned.

* Third Party Guarantee shall be accepted only if the quantum of limit is upto 2 lacs only, subject to the satisfaction of the Branch Manager. Otherwise the finance shall be secured by mortgage of immovable property.

• Forced value of the property must be based on latest valuation report (not older than 3 months.) of the Bank’s approved valuer. Branch should satisfy itself about the valuation strictly as per circular no. CR-74-203 dated 01-11-2002. The valuation shall be reviewed annually thereafter.

• The stocks in trade / stocks in transit & the mortgaged property must be comprehensively insured against all risks for its value with usual bank clause at party’s cost.

• Rs 400/-to be paid upfront in case of Third Party Guarantee & Rs 500/- to be paid upfront in case of Mortgage.

• Mid August to November end.

Adjustment/
Renewal/
of Limit

• The account is to be adjusted by reduction in the credit limits by 20% each month starting December onwards  till the final adjustment of the account in April every year.
  Subject to above stipulations, the limit under the scheme shall be reviewed annually and revised/ cancelled /enhanced depending on the performance of the borrower.

• A penal interest of 2% over & above the applicable interest rate shall be charged on the outstanding balance in the event of non-adjustment of limits on due dates.

• To provide adequate & timely credit for comprehensive requirements of the Khatamband Craftsmen.

• Working Capital finance in the nature of Cash Credit facility on revolving basis.

• Artisans associated with the Khatamband trade.
  The age of the applicant must be between 18-55 years

• The total credit should not exceed Rs 1,00,000/- per Unit*. The amount of loan shall be as per the estimate of cost per head/month (Annexure-1) 
  *A Khatamband unit is comprised of at least 4 craftsmen.

• 20% of the amount sanctioned.

• Upto Rs 50,000: PLR-1 %, i.e.12%
• Above Rs 50,000 to Rs 1,00,000: PLR-0.50%, i.e. 12.50%

Interest Applied shall, however, be on a fixed basis and shall be applied with monthly rests.

• Hypothecation of stocks (Raw materials, semi- finished & finished goods) created out of Bank finance.

• Third party guarantee of two persons, preferably fellow unit-holders.

• The account must be brought into credit at least once a year. However, interest shall be serviced on monthly basis.

• Comprehensive insurance of hypothecated stocks.

• 0.05% of the amount sanctioned with a minimum cap of Rs 25/- to be paid upfront.

• The limit under the scheme shall be reviewed annually and revised/ cancelled /enhanced depending on the performance of the borrower

• To provide Finance for possession and use of commercial property being Shop/s, Office/s, etc and leased out by Government/ Semi-Government and Autonomous bodies.

• Term Loan

• Any one of the following is eligible:
  • Individuals
  • Proprietorship Concerns
  • Professionals or self employed persons
  • Partnership firms.
  • Companies

*The applicant must have a business standing of at least 3 years.

• 4 times net annual income subject to a maximum cap of Rs 50.00 Lacs. Income of spouse will also be considered for married applicants

• 25% of lease premium. Earnest money paid shall be considered for margin requirements.

• Primary:Mortgage of lease-hold rights in the property acquired.
• Collateral: 3rd Party guarantee of two persons/ Mortgage of Immovable property as per the satisfaction of the Branch Manager.

• 60 to 84 Equal Monthly Installments.

• 1 Month from the date of first disbursement.

• Prepayment allowed subject to prepayment penalty @1% on the pre-paid amount

To provide loans for purchase of Laptops/PC’s to students pursuing Post- Graduate degree courses in an