Jammu & Kashmir Bank Personal Loan
J&K Bank offers many Personal Loan schemes to cater to the needs of all categories of customers including salaried, self-employed, government employees, journalists, and so on. You can avail these loans for various purposes like purchasing consumer durables, laptops, smartphones, funding festival celebration expenses, and so on.
Apply for J&K Bank Personal Loan @ 12.35% Interest Rates

Features of J&K Bank Personal Loan
Here are some common features of J&K Bank Personal Loans:
- You can avail up to a maximum loan of 10 Lakhs, depending on your occupation, loan scheme, and repayment capacity.
- The repayment tenure varies from 10 months to 4 years, depending on your occupation, loan scheme, and repayment capacity.
- Zero charges for loan foreclosure.
J&K Bank Personal Loan Interest Rates
The interest rates on J&K Bank Personal Loans are linked to the 1-year Marginal Cost of Funds based Lending Rate (MCLR) of the following, which is 8.85% as updated on 10.07.2019.
The following are the interest rates applicable to all Personal Loans schemes offered by the bank:
#1. Personal Loan Schemes
Saholiat/ Saral Loan Schemes for Salaried Employees/ Pensioners of Central or State Government (including Rehaber-a-Taleem Teachers), State and Central Public Sector Undertakings, Autonomous Bodies & Other Institutions.
Interest Rates:
- Applicants who are maintaining their salary accounts with the J&K Bank: 1-Y MCLR + 3.50% = 12.35%
- Applicants who are not maintaining their salary accounts with the J&K Bank: 1-Y MCLR + 4.75% = 13.60%
- Professionals/ Self-employed Persons/ Businessmen: 1-Y MCLR + 5.50% = 14.35%
- Central / State Government pensioners, including family pensioners, maintaining pension accounts with the Bank: 1-Y MCLR + 3.50% = 12.35%
#2. Saral/Saholiat Finance Scheme for Pensioners
Interest Rates: 1-Y MCLR + 3% = 11.85% Fixed
#3. Consumer Loan
Interest Rates:
- For salaried: 1-Y MCLR + 2.75% = 11.60%
- For others, 1-Y MCLR + 3.50% = 12.35% Fixed interest rate with monthly rests.
#4. JK Bank Laptop/PC Finance
Interest Rates: 1-Y MCLR + 1.75% = 10.60% Fixed interest rate with monthly rests
#5. J&K Bank Saral Finance to Small Businessmen
Fixed Interest Rates: 1-Y MCLR + 3.25% = 12.10%
#6. Finance for the purchase of Domestic LPG Connections
Fixed Interest Rates: 1-Y MCLR + 0.50% = 9.35%
#7. J&K Bank Cash Credit Scheme
Fixed Interest Rates: 1-Y MCLR + 3.50% = 12.35%
#8. Festival Advance Scheme
Fixed Interest Rates: 1-Y MCLR + 3.50% = 12.35%
#9. Smartphone Finance
Fixed Interest Rates: 1-Y MCLR + 3% = 11.85%
#10. J&K Bank Sahafat Finance Scheme
Interest Rates:
- For Term Loan: 1-Y MCLR + 3.4% = 12.25% (Floating with monthly rests)
- For Cash Credit: 1-Y MCLR + 3.4% = 12.25% (Floating with 1 year reset clause)
Benefits of J&K Bank Personal Loan
Reasons to take a Jammu & Kashmir Bank Personal Loan:
- You can take a loan under any of the numerous categories of Personal Loans available at the bank.
- It is easy to find a customisable loan option.
- Quick processing and simple documentation.
- Competitive rate of interest charged on reducing balance.
- For some of the Personal Loan schemes disbursement is made by cash. So, the end use is not really insisted.
- The loans can be availed for purchasing consumer durables, laptops, smartphones, funding festival celebration expenses, and other personal needs.
Types of J&K Bank Personal Loans
The bank offers the following types of Personal Loans:
#1. Saral/Saholiat Finance Scheme
There are the following four categories of loans under this:
A. Saholiat/Saral Finance Scheme for Employees
Features of the loan:
Purpose | The loan can be used by salaried employees for any personal needs |
Type of facility | Term loan |
Loan amount | Up to gross salary 36 months |
Repayment tenure | Up to 84 months or period of service left, whichever is lower |
Who can apply | Permanent employees of central/state government, PSUs, autonomous bodies, and institutions |
Security |
|
Margin | Nil |
B. Saholiat/Saral Finance Scheme for Professionals
Features of the loan:
Purpose | The loan can be used by professionals for any personal/professional needs |
Type of facility | Term loan |
Loan amount | Up to 2.5 times of applicant's net annual income OR 30 months' net monthly income OR 10 Lakhs, whichever is lower |
Repayment tenure | Up to 60 months |
Who can apply | Professionals like Engineers, Doctors (MBBS, BDS, etc.), Architects, Lawyers, and CAs, who are self-employed and earn their income through their profession |
Security | Third party guarantee of 2 persons ECS or RECS mandate has to be obtained, (or PDCs if ECS/RECS is not available) |
Margin | Nil |
C. Saral/Saholiat Finance Scheme for pensioners
Features of the loan:
Purpose | The loan can be used by pensioners for any personal needs |
Type of facility | Term loan |
Loan amount |
|
Repayment tenure |
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Who can apply | Pensioners of central or state government drawing pension through J&K Bank including family pensioners |
Security | Loan will be grated in the name of the pensioner as well as an eligible family pensioner (guarantee of any family member or third-party, if the family pensioner is not available) |
Margin | Nil |
D. Saholiat/Saral Finance Scheme for Businessmen
Features of the loan:
Purpose | The loan can be used by businessmen for any personal needs |
Type of facility | Term loan |
Loan amount | Net monthly income of 30 months or 5 Lakhs, whichever is lower |
Repayment tenure | Up to 60 months |
Who can apply |
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Security |
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Margin | Nil |
#2. Consumer Loan
Features of the loan:
Purpose | For purchase of the following household items for personal use:
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Type of facility | Term loan |
Loan amount | Up to 1.50 Lakhs |
Repayment tenure | Up to 48 months |
Who can apply |
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Security |
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Margin | 10% of the value of consumer durable item(s) |
#3. J&K Bank Cash Credit Scheme (Salaried Employees)
Features of the loan:
Purpose | To provide hassle-free cash credit facility to salaried employees |
Type of facility | Cash credit |
Loan amount |
|
Repayment tenure | The facility is revolving in nature up to 52 years of age or 8 years before the applicant's retirement age, whichever is earlier |
Who can apply | Permanent employees of central government/ government/ semi-government undertakings/ autonomous bodies who are drawing a salary from J&K Bank |
Security | Nil |
Margin | Nil |
#4. Laptop/ PC Finance
Features of the loan:
Purpose | To provide loan for purchase of Laptop/ PCs/ Tablets/ Netbooks |
Type of facility | Term loan |
Loan amount | Up to 1.50 Lakhs |
Repayment tenure | 12-48 months |
Who can apply |
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Security |
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Margin | 10% |
#5. Festival Advance Scheme
Features of the loan:
Purpose | To provide loan for celebrations of festivals like Eid-ul-Adha, Eid-ul Fitr, Nowroz, Diwali, Gurupurab, Baisakhi, Losar, Maha Shivratri, Christmas, and Ashura |
Type of facility | Term loan |
Loan amount |
|
Repayment tenure | Up to 10 EMIs |
Who can apply |
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Security | Nil |
Margin | Nil |
#6. Smartphone Finance
Features of the loan:
Purpose | To provide loan for the purchase of Mobile Phones (IOS, Android, Blackberry, and Windows based) |
Type of facility | Term loan |
Loan amount |
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Repayment tenure | Up to 30 EMIs |
Who can apply |
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Security | Nil |
Margin | 10% of the value of the invoice |
#7. J&K Bank Sahafat Finance Scheme
Features of the loan:
Purpose |
|
Type of facility | These are Composite Loan wherein 75% is Term Loan and 25% is Cash Credit |
Loan amount |
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Repayment tenure | Up to 60 EMIs and the first instalment should start after 30 days from the first disbursement |
Who can apply |
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Security | Nil |
Margin | Nil |
Professing Fees & Other Charges of J&K Bank Personal Loan
The following are the charges that are associated with J&K Bank Personal Loans:
Fees or Charges Levied | Fee |
---|---|
Processing fees |
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Prepayment charges | Nil |
Document Required for J&K Bank Personal Loan
The bank requires the following documents from applicants:
- Duly filled application form for Personal Loan with passport-size photograph
- Proof of identity
- Proof of age
- Proof of signature
- Proof of residential address
- Proof of income
J&K Bank Customer Care
For all your queries related to the Personal Loan or other instruments, call the bank or get in touch with them through the numbers mentioned below:
- Contact Centre: 1800 1800 234
- Customer Care: 0194-2481999
FAQs
An existing customer can approach the Jammu and Kashmir branch and hand over the application along with the required documents. One can also download the application form from the official website of Jammu and Kashmir Bank and hand over the same with the required documents to the bank representative. If an existing customer with a long-standing relationship, then the loan processing will be done faster. For a new customer, the process of applying for the loan remains the same, but the loan processing may take a considerably long time.
The maximum amount can go up to 10 Lakhs, depending on the type of loan scheme and repayment capacity of the borrower.
Processing fees may vary from Nil to 1,000, depending on the loan scheme to be availed.
The regular documents i.e., the identity proof, residence proof, income proof, and passport size photographs, along with a completed loan application.
The bank offers:
- Consumer Loan
- Laptop/PC Finance
- Festival Advance Scheme
- Smartphone Finance
- J&K Bank Cash Credit Scheme
- J&K Bank Sahafat Finance Scheme
- Saholiat/ Saral Finance Scheme for Employees
- Saholiat/ Saral Finance Scheme for Professionals
- Saholiat/ Saral Finance Scheme for Businessmen
- Saholiat/ Saral Finance Scheme for Pensioners