Calculate J&K Bank Home Loan EMI

Total Payments-


Total Interest-
Principal Amount-
Total EMI


View Details
  • Loan Amount
  • Interest Rate
  • Your EMI
  • Tenure
  • ₹5,000,000
  • 6.95%
  • ₹0
  • 30

J&K Bank Details

J&K Bank, also known as the Jammu and Kashmir Bank was incorporated in 1938. It is headquartered in Srinagar, the capital city of Jammu and Kashmir. The bank is the only private sector bank designated as RBI's agent to operate in the region. The bank therefore undertakes all banking activities falling in the preview of the Central Government. In addition to enjoying a monopoly in the state, it has widespread operations across India too. J&K Bank deals in a wide range of financial products and services.

Additional Info: Also check Rs. 80 Lakh Home Loan EMI

J&K Bank Home Loan

The home loan department of the J&K Bank enables individuals to live the dream of owning a house. The bank has a huge and well-organized home loan unit. It has one home loan scheme which is feature packed and can be easily customized to meet individual requirements. J&K Bank home loan can be availed for purchase, purchase, and subsequent construction, extension, repair, renovation and furnishing of property. The rate of interest on home loans offered by J&K Bank depends on the quantum of home loan applied for.

Additional Info: Looking for 25 Lakh Home Loan? Check EMI & Apply.

Home Loan Schemes Available at J&K Bank

The J&K Bank has one home loan scheme. Depending upon the needs and requirements of the customer, the scheme can be customized to meet individual requirements.

Product NameInterest RateTenureProcessing chargesIdeal For
J&K Bank Housing Loan

Home loan upto 1 crore @ 6.95% p.a,

Between 1 crore and 3 crore @ 7.10% p.a.

Above 3 crore @ 7.25% p.a.

30 years for salaried / professionals

20 years for others (including NRI)

0.25% of the loan amount, subject to minimum of 5,000 and maximum of 25,000

50% waiver in processing fee charges for women applicants.

Salaried, self-employed, NRIs, farmers

Additional Info: Looking for 10 Lakh Home Loan? Check EMI & Apply.

Features of J&K Bank Home Loans

  • Salaried and self-employed professionals and non-professionals are eligible for J&K Bank home loan
  • Retired employees, NRIs, people engaged in farming and allied activities can apply for a J&K Bank home loan.
  • Home loan can be availed for purchase, construction, extension, and renovation of the residential property.
  • Home loans issued to salaried and self-employed individuals enjoy 30-year loan tenure.
  • Home loan issued to people for other categories can avail loan for 20 years.
  • J&K Bank home loan have no foreclosure or prepayment charges.
  • Home loan can be applied by joint applicants to enhance loan eligibility.
  • Women applicants, whether sole or joint borrower, enjoy a 50% reduction in processing charges.
  • The maximum J&K Bank home loan quantum depends upon the purpose of home loan.
  • Customers enjoy a moratorium period depending upon the purpose of home loan.
  • J&K Bank has a loan margin of 75% on loans above 75 lakh.
  • The rate of interest depends upon the quantum of home loan. Home loan upto 1 crore is available at 6.95% p.a, between 1 crore - 3 crore at 7.10% p.a. and above 3 crore at 7.25% p.a.
  • The lowest EMI of J&K Bank is 662 per lakh. It is calculated for a 30 year loan term at @ 6.95% p.a.

Additional Info: Also Check LRD Loan

What is EMI?

EMI, the abbreviated form of Equated Monthly Installments is the fixed monthly outflow that the borrower will incur in order to repay the home loan. The EMI installment is paid over the entire loan term. EMI installment is ascertained using the amount of loan, term of loan and rate of interest. It comprises of two components, the principal and interest.

EMI installment is paid every month over the entire loan term. An EMI schedule is a Performa that makes the customer aware of the total outflow that he/she will bear. It segregates the principal amount from the interest amount and highlights the total cost of the home loan. Also, as the interest portion is highest during the initial years, it shows the division of principal and interest part of the EMI. 

Below is the EMI table of the J&K Bank. The table depicts the amount of EMI payable against each loan principal and loan tenure. As the bank's rate of interest increases with the increase in quantum of loan, the EMI amount is calculated using different interest rates 6.95% p.a. and 7.10% p.a.

J&K Bank Home Loan EMI Table

Loan AmountLoan Tenure
 15 years20 years25 years30 years
 25,00,000 (@ 6.95%)22,40119,30817,59016,549
 100,00,000 (@ 6.95%)89,60477,23070,35966,195
 300,00,000 (@ 6.95%)2,68,8112,31,6902,11,0781,98,584

The above table shows the importance of choosing the right loan tenure. As the duration of the home loan increase, the EMI amount payable per month goes on reducing for the same loan amount. A reduced EMI over a longer period of time is easier to pay and therefore the longest term is more preferred among home loan applicants.

However, on the contrary, as the duration of the loan increases, the home loans become more expensive. The break-up of the EMI installment is termed as the Principal to Interest Break-Up ratio. The break-up clearly indicates the portion of the amount settled against principal repayment and interest part.

Listed below is the EMI break-up table. The table shows the amount of money to be repaid on availing a home loan of 1 lakh. The break-up is for different durations at rate of interest of 6.95% p.a.

 15 years20 years25 years30 years
EMI per lakhRs. 896Rs. 772Rs. 704Rs. 662
Total amount repayable to bank (P+I)Rs. 1,61,286Rs. 1,85,352Rs. 2,11,078Rs. 2,38,301
Total interest paid over the loan tenureRs. 61,286Rs. 85,352Rs. 1,11,078Rs. 1,38,301
Principal to Interest Break-Up56.2 : 43.847.8 : 52.241.2 : 58.836:64

As the duration of the loan increases, the Principal to Interest ratio changes making the home loan more expensive. Thus, home loans are least expensive over shorter durations but the EMI amount payable is high. On the other hand, home loans are most expensive over longer durations but the EMI outflow is lowest per month. Therefore, it is important to choose the ideal loan term that fits the monthly EMI outflow bill.

What is EMI Calculator?

The monthly installment of the EMI is calculated using a mathematical formula, known as the EMI calculator. The EMI can be calculated manually or scientifically using the EMI calculator. The calculation for EMI relies on three parameters - Principal amount, Rate of Interest and Loan tenure.

The mathematical formula for calculating the home loan EMI is:

 [P x R x (1+R)^N] / [(1+R)^N-1]


P = Principal loan amount

R = Rate of interest

N = Loan tenure in months

For J&K Bank Home Loan the values for each are

P = Depends upon the location and cost of property

R = Rate of interest charged depends upon the amount of home loan. Home loan upto 1 crore is available at 6.95% p.a, between 1 crore - 3 crore at 7.10% p.a. and above 3 crore at 7.25% p.a.

N = the maximum loan tenure is 30 years for salaried and self-employed applicants and 20 years for others including NRI and individuals engaged in farming and other allied activities.

Additional Info: Best Home Loan Interest Rates @6.70%

Factors Affecting J&K Bank Home Loan EMIs

The home loan EMI payable each month is calculated using three variables - loan amount, rate of interest and loan tenure. EMI is grossly affected by a change in any of the three variables.

Principal amount: The EMI amount is directly dependent on the loan amount. The EMI installment will be high for a high loan amount. J&K Bank sanctions home loans depending upon the location and price of the property.

Rate of Interest: The rate of interest is the cost of issuing a home loan. A higher rate of interest will result in a higher EMI value. J&K Bank interest rates increase with the increase in the amount of loan. Home loan up to 1 crore is available at 8.55% p.a, between 1 crore - 3 crore at 6.95% p.a. and above 3 crore at 7.10% p.a.

Duration of Loan: The total number of years over which the borrower will repay the loan is called the duration of the loan. The maximum loan duration allowed by J&K Bank is 30 years for salaried and self-employed applicants and 20 years for NRI and other applicants. 

However, there are numerous reasons that affect these three basic parameters. These are: 

Job profile: A bank can charge a different rate of interest from different customers depending upon their job profile.

Purpose of Home Loan: The purpose for which the home loan is availed directly impacts the loan quantum and loan tenure.

Credit Score: If the customer has a healthy banking Credit Score, the bank will be eager to strike the deal even at a lower rate of interest than that offered to other applicants.

Existing bank customers: Customers who enjoy a good track record with the bank become their loyal customers. Such customers enjoy better privileges and deals than new and unknown customers.

Tips To Decide The Right Amount Of EMI

As the EMI installment is to be paid monthly over a really long period of time it should neither be too high or too low. The following steps will enable you reach an ideal EMI installment amount:

Calculate the principal amount: Once you decide to apply for a home loan, calculate the exact amount of home loan amount that you will require keeping in mind the margin value. It is better to merge smaller properties than simply relying on a high value home loan. Keep in mind the EMI installment that you will bear for the entire loan term. 

Evaluate your current liabilities: Before applying for a home loan it is important to evaluate and assess you current obligations on a monthly basis. As your home loan EMI will only add to the bill, be sure that you can accommodate it comfortably without taking any undue financial stress.

Know your eligibility: The amount of home loan will depend on the purpose of loan, job profile of the applicant and the loan tenure. So, it is important that you check your Home loan eligibility and fund for the margin money.

Calculate FOIR (Fixed Obligations to Income Ratio): FOIR helps establish the maximum EMI one can pay keeping in mind the current financial standing. As a rule of thumb, EMIs payable on all loans should not be more than 50% of the income.

Additional Info: Also check Pan Number for Banks

Change In EMI With A Change In Interest Rate

EMI amount will change with the change in the rate of interest. But existing home loan customers with floating rate charges can do without an EMI change. In such cases, the increase of decrease in the total amount payable to the bank is adjusted by making changes in the tenure of the loan. In cases where it is not possible to completely liquidate the loan before the borrower turns 70, the EMI installment payable every month is increased keeping the loan tenure same.

Additional Info: Also check ICICI Home Loan EMI Calculator

Change In EMI On Prepayment

J&K Bank allows its customers to prepay the home loan amount without any additional charge. The interim lump sum payments are adjusted against the outstanding principal amount.  

Upon each lump sum prepayment of the home loan, the outstanding principal balance is reduced. The borrower can either pay the remaining principal outstanding through same EMI over reduced home loan tenure or can request the bank to recalculate the EMI amount and pay the reduced EMI without any change in the loan duration.

Additional Info: Looking for 25 Lakh Home Loan? Check EMI & Apply.

Amortization Table

YearOpening BalanceAmount paid by customer (EMI*12)Interest paid during the yearPrincipal paid during the yearClosing Balance

J&K Bank Home Loan EMI Calculator FAQs

What is the rate of interest charged on J&K Bank home loan?


J&K Bank home loan rate of interest increases with the increase in home loan principal amount. Home loan upto  1 crore is available at 695% p.a, between  1 crore -  3 crore at 8.2% p.a. and above  3 crore at 8.85% p.a.

How can one apply for a J&K Bank home loan?


J&K Bank home loan can be applied online through bank website or at MyMoneyMantra.

How long does it take for a J&K Bank home loan to be approved?


J&K Bank approves and sanctions a home loan within 15 days provided all pre-conditions are met.