Jammu and kashmir bank
Personal Loan

• If salary accounts of employees are maintained with the bank: Nil
• For others: Third party guarantee of a person having sufficient net worth for loan repayment
• ECS or RECS mandate has to be obtained, (or PDCs if ECS/RECS is not available)

Third party guarantee of 2 persons

ECS or RECS mandate has to be obtained, (or PDCs if ECS/RECS is not available)

• Up to 70 years of age: Net pension of 18 months
• Above 70 years and up to 75 years of age: Net pension of 12 months
• Family Pensioner up to 70 years of age: Net pension of 12 months or 2 Lakhs, whichever is lower

• Up to 70 years of age: Up to 60 months or up to 75 years of age, whichever is earlier
• Above 70 years of age: Up to 48 months or up to 75 years of age, whichever is earlier
• Family Pensioners: Up to 48 months or up to 75 years of age, whichever is earlier

• Existing borrowers with minimum satisfactory dealings of 3 years with J&K Bank and availing loan facility in the form of cash credit/term loan/secured overdraft
• Platinum and Gold Current Account holders having minimum 1 year standing in the said category and with maximum 2 penalties for non-maintenance AMB during the period.

• Third party guarantee of 1 person
• ECS or RECS mandate has to be obtained, (or PDCs if ECS/RECS is not available)

For purchase of the following household items for personal use:

• TV (LED, LCD, 3D, etc.)
• Washing machines
• Refrigerators & deep freezers
• Vacuum cleaners
• Home theater & music systems
• AC (split/window)
• Water purifiers
• Geysers
• Heating equipment's (LPG Heaters/ Bukharis/ Electric Heaters like oil fired Heaters)
• Non-kerosene generators
• Invertor batteries
• Invertors complete kit
• Furniture (steel and wooden)
• Cooking range

• Permanent employees of central/state government, government/ semi-government undertakings, and autonomous bodies
• Contract-based employees with the central/state government, government/ semi-government undertakings, and autonomous bodies are also eligible if they are in the current job for a period at least 1 year & the remaining period of the contract is longer than the repayment period
• Teachers under Rehaber-a-Taleem and J&K government
• Officials under Rehaber-a-Zeerat and J&K government
• State/central government pensioners drawing monthly salaries or pension through J&K bank
• Employees of private organisations, private limited companies, reputed establishments, with minimum 1 year relationship with J&K bank (assets or liabilities)
• Professionals/self-employed individuals/ businessmen/ proprietorship concerns, with a minimum 1 year relationship with J&K bank (assets or liabilities)
• Regular teachers of recognised private schools (who are permanent residents of J&K)
• Employees on Adhoc basis are not eligible
• Minimum age: 21 years
• Maximum age at loan maturity:
  • For employees: 1 month before retirement
  • For pensioners: 70 years
  • For others: 65 years

• Primary:
  • For loans up to 40,000: Nil
  • For loan above 40,000: Hypothecation of goods to be purchased
• Collateral: Nil for
  • Permanent government employees who are drawing salary through J&K Bank branch and where the letter of confirmation is available (For pensioners, the spouse is taken as co-borrower)
  • For Platinum, Gold, and Premium plus Current account holders, who have maintained satisfactory accounts for minimum last 6 months
  • Cash Credit or SOD account holders with a sanctioned limit of above 5 Lakhs and minimum average utilisation percentage of above 70% from at least 6 months before this facility.
  • Customers holding Fixed Deposit accounts (of more than 4 months old on disbursal) of more than 5 Lakhs in the business unit
• For all other categories Third party guarantee of 1 person

• Minimum: 50,000
• Maximum: Up to 6 times average of last 3 months' salary credited in the account or 6 Lakhs, whichever is lower

• Permanent/contractual employees, self-employed individuals, professionals, proprietorship concerns
• Teachers under Rehaber-a-Taleem and J&K government
• Officials under Rehaber-a-Zeerat and J&K government
• State/central government pensioners drawing monthly salaries or pension through J&K Bank
• Employees of private organisations, private limited companies, reputed establishments
• Regular teachers of recognised private schools (who are permanent residents of J&K)
• Regular students of recognised schools, colleges, and universities
• Minimum age: 18 years
• Maximum age at loan maturity:
  • For employees: Date of retirement or 60 years, whichever comes earlier
  • For others: 65 years

• Primary:
  • For loans up to 50,000: Nil
  • For loan above 50,000: Hypothecation of Laptop/PC/Netbook to be purchased
• Collateral: Nil for
  • Permanent government employees who are drawing salary through J&K Bank branch and where the letter of confirmation is available (For pensioners, the spouse is taken as co-borrower)
  • For Platinum, Gold, and Premium plus Current account holders, who have maintained satisfactory accounts for minimum last 6 months
  • Cash Credit or SOD account holders with a sanctioned limit of above 5 Lakhs and minimum average utilisation percentage of above 60% from at least 6 months before this facility.
  • Customers holding Fixed Deposit accounts (of more than 3 months old on disbursal) of more than 5 Lakhs in the business unit
  • For all other categories Third party guarantee of 1 person

• Minimum: 5,000
• Maximum: Average net salary of the previous 3 months, subject to a maximum of:
  • 40,000 if the average is less than 50,000
  • 60,000 if the average is greater than or equal to 50,000 but less than 80,000
  • 75,000 if the average is 80,000 or above
  • For pensioners: Up to 70% of the net pension or 20,000, whichever is lower

• Permanent employees/ pensioners of central government/ government/ semi-government undertakings/ autonomous bodies who are drawing a salary from J&K Bank
• Minimum age: 18 years
• Maximum age: 1 year less than the retirement age, i.e., 59 years if the retirement age is 60 years and 57 years if the retirement age is 58 years
• Maximum for pensioners: Up to 69 years

• Minimum: 10,000
• Maximum: Up to 75,000 or net income of 12 months for purchasing up to 3 Smartphones or 90% of the value of the invoice of the Smartphone, whichever is lower
• Maximum loan in case of individual small businessmen who don't file their ITR and don't maintain financial statements is 10% of the credits in their operative account during the last 12 months or 90% of the value of the invoice of the Smartphone, whichever is lower.

• Permanent employees/ pensioners of central government/ government/ semi-government undertakings/ autonomous bodies who are drawing a salary from J&K Bank and where the letter of undertaking is available from the employer
• Customers already availing any credit facility (for over 2 years) without any past dues of more than 1 month on the loan
• Minimum age: 21 years
• Maximum age: 60 years or employee's date of retirement, whichever is earlier (for salaried) and 65 years for others

• To provide loan to journalists/media personnel & employees of newspaper or media houses for any personal as well as professional needs like the purchase of necessary equipment (books, journals, cameras, tablets, laptops, or other media equipment)
• It is a revolving facility to meet cyclic liquidity needs

• Minimum: 50,000
• Maximum: 3 Lakhs

• A working journalist under the definition of Working Journalists & other Newspaper employees (Condition of Service) & Miscellaneous Provisions Act, 1955
• Media Personnel whose principal job is reporting or editing for news channels of TV/radio/web- based services and who is employed for either full-time or part-time, in such establishments & includes news reporter, editor, cameraman, photojournalist, photographer, stringer journalists, managerial/administrative capacity, supervisory capacity/accounting, etc.
• Employees of newspapers/media houses with daily/weekly/monthly circulation of minimum 2000 copies
• Employees of newspapers/media houses/radio channels/private TV/magazines having served for at least 3 years
• The borrower should have their salary account with J&K Bank for minimum 6 preceding months
• Minimum age: 18 years at loan application
• Maximum age: 65 years at loan maturity