Jammu and Kashmir Bank FD Interest Rates 2025

What is the Jammu and Kashmir Bank Fixed Deposit?

Jammu and Kashmir Bank offers fixed deposit schemes with interest rates varying based on the tenure and deposit amount. The bank also offers different FD schemes like the Smart Saver Term Deposit scheme, which allows auto-sweeping of excess balance from savings or current accounts to form a linked term deposit. The minimum deposit amount starts from ₹100, making it accessible for even low-income families. Customers can choose a deposit tenure as short as 7 days.

Key Features of Jammu and Kashmir Bank Fixed Deposits

Some of the key benefits of Jammu and Kashmir Bank FDs are mentioned below.

1. Fixed Interest Rates:

   Interest rates are fixed for the tenure of the deposit, providing predictability and certainty of returns.

2. Flexible Tenures:

   FDs are available for various tenures, ranging from 7 days to 10 years, allowing you to choose a term that suits your investment needs.

3. Premature Withdrawal:

   While premature withdrawal is allowed, it comes with a minimal penalty. Interest on premature withdrawal will be paid at 0.50% below the rate applicable for the period the deposit remained with the bank, provided the deposit has remained with the bank for at least 7 days.

4. Loan Facility:

   You can avail of a loan against your FD, with up to 90% of the deposit amount plus accrued interest. The bank will levy the applicable interest on loans.

5. Higher Interest for Senior Citizens:

   Senior citizens are offered a 0.50% additional interest rate on their FDs. Super-senior citizens (80 years and above) shall be offered an additional 0.25% over and above the existing rates offered to Senior Citizens/Senior Citizen Staff.

6. Insurance Coverage:

   Jammu and Kashmir Bank FDs are covered by the Deposit Insurance and Credit Guarantee Corporation (DICGC), providing additional security for your investment.

7. Tax-Saving Option:

   Jammu and Kashmir Bank also offers Tax Saver Term Deposits, allowing you to claim tax deductions under Section 80C of the Income Tax Act.

8. Nomination Facility:

   You can nominate beneficiaries for your FD, ensuring a smooth transfer of funds in case of any eventuality.

9. Easy to Open and Manage:

   You can open and manage your FD easily through online banking or by visiting a bank branch.

10. Sweep-in/ Sweep-out:

    The Jammu and Kashmir Bank offers an automatic sweep-in and sweep-out feature. This means that funds from your savings or current account are automatically moved into a linked fixed deposit when the balance exceeds a certain threshold, and funds can be moved back to your account if the balance falls below the threshold.

Jammu and Kashmir Bank FD Interest Rates

Here's a detailed breakdown of Jammu and Kashmir Bank FD Interest Rates across different investment slabs and tenors:

Jammu and Kashmir Bank FD Interest Rates on Domestic/NRO Deposits for Less than ₹3 Crores:

*Jammu and Kashmir Bank FD interest rates w.e.f. May 11, 2025

Jammu and Kashmir Bank FD Interest Rates on Single Domestic, NRE & NRO (for above ₹1 Crore to less than ₹3 Crores):

*Jammu and Kashmir Bank FD interest rates w.e.f. May 11, 2025

Jammu and Kashmir Bank FD Interest Rates on Domestic/NRO Deposits for ₹3 Crores to less than ₹5 Crores (Withdrawable):

*Jammu and Kashmir Bank FD interest rates w.e.f. May 11, 2025

Jammu and Kashmir Bank FD Interest Rates on Domestic/NRO Deposits for ₹3 Crores to less than ₹5 Crores (Non Withdrawable):

*Jammu and Kashmir Bank FD interest rates w.e.f. May 11, 2025

Jammu and Kashmir Bank FD Interest Rates on Bulk Deposits (₹5 Crore & Above - Callable)

*Jammu and Kashmir Bank FD interest rates w.e.f. June 2, 2025

Jammu and Kashmir Bank FD Interest Rates on Bulk Deposits (₹5 Crore & Above – Non-Callable)

*Jammu and Kashmir Bank FD interest rates w.e.f. June 2, 2025

How to Open a Jammu and Kashmir Bank FD

Opening a Jammu and Kashmir Bank FD is a very easy process, and whether you do it online or offline depends on your convenience.

1. Online Method

   • Access Online Banking: Log in to the Jammu and Kashmir Bank's official online banking portal or your mobile banking app using your registered username and password.

   • Locate the FD Section: Look for an option related to "Fixed Deposits," "Term Deposits," or similar wording on the platform.

   • Fill in the Application: Provide the required details, including the deposit amount, tenure, and any other details specific to the FD scheme you choose.

   • Provide necessary documents: You'll need to attach KYC, PAN card, Photographs, and Other relevant documents.

   • Confirm and Submit: Review all the information you've entered and submit the FD application.

   • Funding the FD: Ensure you have sufficient funds in your account to cover the FD deposit.

   Note:

   • Online Account Opening: Jammu and Kashmir Bank offers online account opening, which might be a prerequisite for opening an FD online if you don't have a current account with them.

   • KYC Requirements: Be prepared to provide necessary KYC documents, which may include your Aadhaar card, PAN card, or other valid ID proof.

   • Security: Use secure online banking practices, such as strong passwords and avoiding public Wi-Fi networks.

2. Offline Method

   • Visit a Jammu and Kashmir Bank branch: Locate the nearest branch and approach the counter for FD account opening.

   • Obtain and fill out the application form: Request the FD application form and fill it out accurately with all the required details.

   • Choose your FD tenure: Select the desired FD tenure, ranging from 7 days to 10 years.

   • Provide the necessary documents

   • Deposit the FD amount: You can deposit the amount via cheque or bank transfer.

   • Apply: Submit the completed application form along with the documents and the deposit.

   • Receive the FD certificate and acknowledgement: Once the application is verified, you'll receive an acknowledgement slip and your FD certificate.

Documents Required for Jammu and Kashmir Bank FD

Here’s a quick checklist of documents you will need (if you are a new customer) to open a Jammu and Kashmir Bank Fixed Deposit either online or offline.

• Filled in Application Form

• Photograph of depositor/s (2 copies)

• Officially Valid Documents as per KYC Norms (Valid KYC documents typically include a passport, driving license, PAN card, Voter ID, Aadhaar card, NREGA job card, or a letter issued by the National Population Register containing details of name and address)

• PAN Card or Form 60 or 61

• Form 15G or 15H to avoid TDS (if eligible)

• Any other related documents applicable to minors, partnership firms, companies, HUFs, etc.

Taxation on Jammu and Kashmir Bank FD Interest

Interest earned from Fixed Deposits with Jammu and Kashmir Bank is taxable under the head “Income from other sources” as per your income tax slab. As per Section 194A of the Income Tax Act, the bank deducts Tax Deducted at Source (TDS) at 10% if the total interest earned in a financial year exceeds ₹50,000 for regular individuals and ₹1,00,000 for senior citizens.

To avoid higher TDS, you must submit your PAN card. Without PAN, TDS is deducted at 20%. You can claim the deducted TDS as a refund or adjust it while filing your income tax return. Tax-saving FDs offer additional benefits under Section 80C, helping reduce your taxable income.

Key Takeaways

Jammu and Kashmir Bank Fixed Deposits offer fixed returns over a selected tenure, with interest rates varying based on the duration and type of deposit. The bank provides a range of investment tenures along with features such as auto-sweep facilities. Investors can compare Jammu and Kashmir Bank rates with best FD interest rates available to make an informed choice based on their needs. Features like low minimum deposit amount (₹100) and loan against FDs make these schemes attractive for customers.

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