Interest Rate
12.4 - 14.4
Processing Fee
0%
Loan amount
100000.00 - 2000000.00
Tenure
5 years
Avail loan to purchase of durable consumer goods like Desktop Computer ( P.C)/Laptop, Motorcycle / Scooter / Air Conditioner, Color TV / DVD Player/ VCR / Generator/ Washing Machine (automatic) / Cooking range, Refrigerator / Dish Antenna/DTH Equipment/ Kerosene Room Heater/ Washing machine, Vacuum cleaner, Water Filter cum purifier / CD Players /Cassette Players / Geyser / Cooler, etc.

Avail finance up to 36 months gross salary or Rs. 20 Lacs, whichever is lower.

Repayment of the loan should be completed within 84 months of disbursal or remaining period of service, whichever is lower.

J&K Bank Personal Loan

J&K Bank Personal Loan at a glance

Annual Interest Rate

10.45% - 14.20%

Loan Term

12 Months - 84 Months

10 Months for Festival Loans

Loan Amount

Rs. 3,000 - Rs. 20 Lacs

Time of Funding

Within 24 hours

Pre-Payment Charges

Zero Charges

Eligibility

Documentation

  • Loan Application along with Passport Sized Photograph
  • Identity Proof (any one of the following):
    • PAN Card
    • Driver License
    • Passport
    • Voter ID
    • Citizen of India Card
    • Person of Indian Origin Card
    • NREGA Job card
    • Aadhar Card
    • Professional License With Photograph
    • Trade License with Photograph
  • Residence Proof (any one of the following):
    • Driving License
    • Passport
    • Voter ID
    • Valid Identity Card
    • Utility Bill
    • Ration Card
    • Letter from Employer
    • Lease Deed or Rent Agreement Copy
    • Property Registration Document in the name of the Customer
    • Overseas Citizen of India Card
    • Person of Indian Origin Card
  • Age Proof (any one of the following):
    • Birth Certificate
    • School Leaving certificate
    • Passport
    • Voters card with DOB
    • College Certificate
    • DOB on Tax Return
    • PAN Card

Compare J&K Bank Personal Loans to Other Banks

Bank Name J&K Bank

APR

10.45% - 14.20%

Maximum Lending Amount

Rs. 20 Lacs

Processing Fee

Zero to Max Rs. 1,200

Guarantor

Necessary

Only for Consumer Loan & Laptop/PC Loan

Pre-Closure

Zero Charges

Lending Terms

  • Interest Rate Range: 10.45% - 14.20% per annum
  • Loan Amount: Minimum Rs. 3,000 to Maximum Rs. 20 Lacs
  • Loan Duration: Minimum 10 Months to Maximum 84 Months
  • Loan Disbursement: Within 24 hours

J&K Bank Personal Loan Rate of Interest

Personal Loan Type Applicable Interest Rate

J&K Bank Consumer Loan

Personal Loan for Purchasing Consumer Products

11.45% - 12.20% per annum

J&K Bank Saholiat/Saral Loan

Personal Loan for Salaried / Self-Employed

12.20% - 14.20% per annum

J&K Bank Saholiat/Saral Loan for Pensioners

Personal Loan for Pensioners/Family Pensioners

12.20% per annum

J&K Bank Laptop/PC Loan

Personal Loan for Laptop/PC

10.45% per annum

J&K Bank Smartphone Loan

Personal Loan for Purchasing Smartphones

11.70% per annum

J&K Bank Sahafat Loan

Personal Loan For Journalists / Media Personnels

12.40% per annum

J&K Bank Cash Credit Loan

Personal Loan for Government Employees

12.20% per annum

J&K Bank Festival Advance Loan

Personal Loan for Celebrating Festivals

12.20% per annum

Loan Offerings

J&K Bank Consumer Loan

  • Interest Rate Range:
    • 11.45% for Salaried Applicants
    • 12.20% for Self-Employed Applicants
  • Loan Amount: Minimum Rs. 3,000 to up to 12 times of Net Monthly Income, subject to maximum Rs. 40,000. Maximum Rs. 75,000 in case of purchasing more than one product.
  • Loan Duration: 12 Months - 60 Months
  • Processing Charges: Nil

J&K Bank Saholiat/Saral Loan

  • Interest Rate Range:
    • 12.20% per annum for Salaried applicants maintaining salary account with J&K Bank.
    • 13.45% per annum for Salaried applicants not maintaining salary account with J&K Bank.
    • 14.20% per annum for Self-Employed Businessman and Professionals.
  • Loan Amount: Up to 36 times of Gross Monthly Income, subject to maximum Rs. 20 Lacs.
  • Loan Duration: 12 Months - 84 Months, subject to the retirement age.
  • Processing Charges: Nil

J&K Bank Saholiat/Saral Loan for Pensioners

  • Interest Rate Range:
    • 12.20% per annum for Central / State Government pensioners, including family pensioners, maintaining pension accounts with J&K Bank.
  • Loan Amount:
    • 18 times of Net Monthly Pension or maximum Rs. 3 Lacs for Pensioners upto the age of 70 years.
    • 12 times of Net Monthly Pension or maximum Rs. 3 Lacs for Pensioners between the age of 70 years to 75 years.
    • 12 times of Net Monthly Pension or maximum Rs. 2 Lacs for Family Pensioners up to the age of 70 years.
  • Loan Duration:
    • 12 Months - 60 Months for the pensioner whose age is 70 years at the time of loan application.
    • 12 Months - 48 Months for the pensioner whose age is above 70 years at the time of loan application.
    • 12 Months - 48 Months for the family pensioner.
  • Processing Charges: Nil

J&K Bank Laptop/PC Loan

  • Interest Rate Range: 10.45% per annum
  • Loan Amount:
    • Maximum Rs. 1 Lac for purchasing any laptop or tablet from Apple Inc.
    • Maximum Rs. 50,000 for others.
  • Loan Duration:
    • 12 Months - 36 Months for loan amount up to Rs. 50,000.
    • 12 Months - 48 Months for loan amount above Rs. 50,000.
  • Processing Charges: Nil

J&K Bank Smartphone Loan

  • Interest Rate Range: 11.70% per annum
  • Loan Amount:
    • Minimum Rs. 10,000 to up to 12 times of Net Monthly Income or 90% of the invoice value, whichever is lower. Subject to maximum Rs. 75,000 for purchasing up to 3 smartphones.
    • Minimum Rs. 10,000 to up to 10% of credits in the operative account of the borrower during the last 12 months or 90% of the invoice value, whichever is lower.
  • Loan Duration: 12 Months - 30 Months
  • Processing Charges: 1% of the offered loan amount or minimum Rs. 250.

J&K Bank Sahafat Loan

  • Interest Rate Range: 12.40% per annum
  • Loan Amount: Minimum Rs. 50,000 to up to 36 times of Net Monthly Income, subject to maximum Rs. 3 Lacs.
  • Loan Duration: 12 Months - 60 Months
  • Processing Charges: Rs. 200.

J&K Bank Smartphone Loan

  • Interest Rate Range: 12.20% per annum
  • Loan Amount:
    • Minimum Rs. 50,000 to up to 6 times of Average Monthly Income of last 3 months as credited into the J&K Bank Salary Account, subject to maximum Rs. 6 Lacs. Applicant age should be 52 years or less in this case.
    • Minimum Rs. 50,000 to up to 5 times of Average Monthly Income of last 3 months as credited into the J&K Bank Salary Account, subject to maximum Rs. 5 Lacs. Applicant age should be 53 years in this case.
    • Minimum Rs. 50,000 to up to 4 times of Average Monthly Income of last 3 months as credited into the J&K Bank Salary Account, subject to maximum Rs. 4 Lacs. Applicant age should be 54 years in this case.
    • Minimum Rs. 50,000 to up to 3 times of Average Monthly Income of last 3 months as credited into the J&K Bank Salary Account, subject to maximum Rs. 3 Lacs. Applicant age should be 55 years in this case.
    • Minimum Rs. 50,000 to up to 2 times of Average Monthly Income of last 3 months as credited into the J&K Bank Salary Account, subject to maximum Rs. 2 Lacs. Applicant age should be 56 years in this case.
    • Minimum Rs. 50,000 to up to the Average Monthly Income of last 3 months as credited into the J&K Bank Salary Account, subject to maximum Rs. 1 Lac. Applicant age should be 57 years in this case.
  • Loan Duration: 12 Months to upto the age of 59 years or one year before the retirement age.
  • Processing Charges: 0.2% of Loan Amount

J&K Bank Festival Advance Loan

  • Interest Rate Range: 12.20% per annum
  • Loan Amount:
    • Minimum Rs. 5,000 to up to the average of last 3 Months' Income, subject to maximum Rs. 40,000 where average monthly income is less than Rs. 50,000.
    • Minimum Rs. 5,000 to up to the average of last 3 Months' Income, subject to maximum Rs. 60,000 where average monthly income is between Rs. 50,000 to less than Rs. 80,000.
    • Minimum Rs. 5,000 to up to the average of last 3 Months' Income, subject to maximum Rs. 75,000 where average monthly income is Rs. 80,000 or greater.
    • Minimum Rs. 5,000 to up to 70% of Net Monthly Pension, subject to maximum Rs. 20,000.
  • Loan Duration: 10 Months
  • Processing Charges: Nil

FAQs

What security / guarantee do I have to provide for J&K Consumer Loan?

Applicant borrowing Consumer Loan from Jammu and Kashmir Bank, have to provide Hypothecation of purchased article for the means of primary security and Third-party guarantee of a person as collateral security.

Who can avail Jammu And Kashmir Consumer Loan?

Applicant borrowing Consumer Loan from J&K Bank can be an employee of Govt., Semi-Govt., Civic Bodies or any Self-Employed person with assured income.

Do I have to provide any margin money to Personal Loan?

In case of Consumer Loan, a 25% margin money of the loan amount is necessary to be provided by the applicant.

For Laptop/PC Loan, a 10% margin money is mandatory to be provided.

A margin money of 10% of the loan amount is mandatory for Smartphone Loan.

What are the requirements for security / guarantee for J&K Bank Pensioner Loans?

Pensioner Loan will be sanctioned in the name of both pensioner and eligible family pensioner. In the absence of eligible family pensioner, any family member can be the guarantor or a third party guarantee of one person would be necessary.

In case of Pensioner loan for family pensioners, a guarantee of any family member or third party guarantee is necessary where family member should preferably be an eligible legal heir.

In case where pensioner died during the tenure of the loan, the installment towards the repayment will be reset on the basis of pension drawn by the family.

Who can avail J&K Bank Personal Loan for purchasing Laptop/PC?

The applicant can be anyone as per the following –

  • Permanent Employee of State / Central Government, Government / Semi-Government Undertakings and Autonomous Bodies.
  • Employee of Private Limited Companies, Private Organizations, Reputed Establishments and Employees on contractual basis with Central / State Govt, Government / Semi-Government Undertakings and Autonomous bodies.
  • Employee on contract with Central/State Govt, Government / Semi-Government Undertakings and Autonomous bodies, if they have been on the current contractual job for a period not less than 1 year where remaining contract period is longer than the chosen repayment period. Employees on adhoc basis shall not be eligible.
  • Teachers under Rehaber-a-Taleem, J&K Govt.
  • Officials under Rehaber-a Zeerat, J&K Govt.
  • Pensioners both State / Central drawing their monthly salary or pension through J&K Bank.
  • Professionals, Self-Employed Individuals and Proprietorship Concerns.
  • Regular students of recognized schools, colleges or universities.
  • Regular Teachers of recognized private schools who is a permanent residents of J&K State.
What security or guarantee do I have to provide for Personal Loan for Laptop/PC?

On availing personal loan for purchasing Laptop/PC from Apple Inc, the customer has to provide the hypothecation of the purchased product if availed loan amount is more than Rs. 50,00.

On availing personal loan for purchasing Laptop/PC from Manufactures other than Apple Inc, the customer doesn't need to provide any primary security.

The requirements for Collateral security are as follows –

  • No collateral security is needed in case of Government employees drawing salary through J&K Bank branches, where letter of confirmation is available.
  • No collateral security for Platinum / Gold / Premium Plus Current account holders maintaining satisfactory accounts for previous 6 months.
  • No collateral security is need for Cash Credit / SOD account holders having a sanctioned limit above Rs 5 lacs and minimum average utilization percentage above 60% from at least 6 months prior to loan.
  • Customers having Fixed Deposit accounts of value more than Rs. 5 Lakh in the Business unit sanctioning the facility, do not need to provide any collateral security.
  • A third-party guarantee of one person is necessary in all other categories.
How much EMI do I have to pay for J&K Bank Smartphone Loan each month?

Maximum EMI amount that you can pay in a month depends on your monthly income. For Government employees, deductions should not be more than 60% of gross monthly salary. For others, deductions should not exceed 50% of gross monthly income.

Who can avail Jammu and Kashmir Bank Sahafat Loan?

Any Journalist, Media Personnel and employees of newspaper/media houses can avail J&K Bank Sahafat Loan, where loan amount is being used in purchasing equipments for journalism like cameras, laptops, tablets or other media equipment, books, journals etc.

An eligible person for Jammu and Kashmir Bank Sahafat Loan can be –

  • A working Journalist as defined under the Working Journalists and other Newspaper employees (Condition of Service) and Miscellaneous Provisions Act, 1955
  • A Media Personnel whose main work profile is reporting/editing for news channels of radio, TV or web- based services and who is working either full-time or part-time, in one or more Media establishments, including work profile such as news editor, reporter, photographer, cameraman, photo journalist, stringer journalists, managerial or administrative capacity, supervisory capacity or accounting etc.
  • Applicant can be an employee of media houses/ newspapers, where media house/newspaper have at least daily / weekly / monthly circulation of 2000 copies depending on the publishing frequency.
  • Employee of any Media houses / Newspapers / Private TV / Radio channels/ Magazines with at least 3 years in the profession.
  • Applicant should have his / her salary account with Jammu and Kashmir Bank for at least last 6 months.
Who can apply for Jammu and Kashmir Bank Cash Credit Loan?

An eligible person for J&K Bank Cash Credit Loan can be any of the following –

  • Permanent Employee of State / Central Government
  • Permanent Employee of Semi-Government Undertakings and Autonomous Bodies.
What are purposes I can use the funds availed under Festival Advance Loan for?

Loan amount availed under J&K Bank Festival Advance Loan can be used to fulfill any personal need for celebrating festivals like Eid-ul Fitr, Eid-ul-Adha, Nowroz, Diwali, Baisakhi, Gurpurab, Losar, Maha Shivratri, Ashura and Christmas.

Who can avail J&K Bank Festival Advance Loan?

An eligible applicant for J&K Bank Festival Advance Loan can be any one of the following –

  • Permanent Employee of State Central Government
  • Pensioner of State or Central Government
  • Permanent Employee of Government or Semi-Government Undertakings and Autonomous Bodies.

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