Jammu & Kashmir Bank Senior Citizen FD Rates 2025

What is a Jammu & Kashmir Bank Senior Citizen FD?

Jammu & Kashmir Bank Senior Citizen FD is a fixed deposit scheme that offers higher FD rates to senior citizens compared to regular FDs. It is designed to support the financial needs of seniors and retirees with the option to receive interest payouts on a monthly, quarterly, half-yearly, or cumulative (at maturity) basis.

Key Features of Jammu & Kashmir Bank Senior Citizen FD

The JK Bank senior citizen FD rates contain features that support financial stability and convenience for retirees:

• Auto-Renewable: J&K Bank’s auto-renewal facility ensures FDs continue earning interest without manual renewal. This is ideal for senior citizens who prefer hassle-free, passive investing.
• Sweep-in/Sweep-out: J&K Bank’s sweep-in/sweep-out facility links your savings account to an FD, helping depositors earn FD-level interest on idle balances while keeping funds liquid for medical or emergency needs.
• Low Minimum Deposit Requirement: You can begin your senior citizen FD with just ₹100 (or ₹1,000 for some schemes), making it accessible even to retirees with modest savings.
• Premature Withdrawal with Reasonable Penalty: J&K Bank permits early withdrawal of senior citizen FDs after 7 days, with a penalty of 0.5% below the contracted rate, ensuring financial flexibility if unexpected expenses arise.

Jammu & Kashmir Bank FD Interest Rates for Senior Citizens

Here are the latest JK Bank FD rates for senior citizens:

Jammu and Kashmir Bank FD Interest Rate for Less than ₹3 Crores:

*J&K Bank FD interest rates w.e.f. August 11, 2025

Jammu and Kashmir Bank FD Interest Rates for ₹3 Crores to less than ₹5 Crores (Withdrawable):

*J&K Bank FD interest rates w.e.f. August 11, 2025

How to Open a Jammu & Kashmir Bank Senior Citizen FD?

You can open a Jammu & Kashmir Bank senior citizen FD either online or offline, depending on your convenience and comfort level.

1. Online Method

   • Log in to J&K Bank NetBanking or Mobile App: Use your NetBanking or mobile banking credentials to securely access your J&K Bank account and begin the FD application process online.
   • Select the Senior Citizen FD Option: From the dashboard, go to the “Fixed Deposits” section and choose the senior citizen FD scheme suited to your financial goals.
   • Fill Deposit Details: Choose your preferred tenure, enter the deposit amount, and select your interest payout mode, monthly, quarterly, or at maturity, based on your income needs.
   • Add Auto-Renewal and Nominee: Enable auto-renewal to keep your FD active after maturity and add a nominee to ensure smooth fund transfer in unforeseen circumstances.
   • Fund Your Fixed Deposit: Transfer the chosen deposit amount directly from your linked savings account to finalise and activate your J&K Bank senior citizen FD.
   • Download and Save the e-Receipt: After confirmation, download or print your e-FD receipt immediately as official proof of your fixed deposit for recordkeeping and reference.

2. Offline Method

   • Visit the Nearest Branch: Locate and visit your nearest Jammu & Kashmir Bank branch to begin the senior citizen FD account process offline.
   • Fill the Application Form: Complete the fixed deposit application form accurately and ensure you tick the option indicating your senior citizen eligibility.
   • Submit Documents: Carry valid KYC documents like Aadhaar, PAN card, and age proof to verify your identity and senior citizen status.
   • Deposit the Funds: Pay your selected FD amount at the branch via cheque, cash, or bank transfer as per the bank’s accepted methods.
   • Collect Receipt: Receive your official fixed deposit receipt from the bank staff and keep it safe for future reference and claims.

Taxation on JK Bank Senior Citizen FD Rates

The TDS threshold for senior citizens of Jammu and Kashmir Bank interest income has been increased. For the Financial Year 2025-26, TDS will only be deducted if the total annual interest from a bank exceeds ₹1 lakh; previously, this limit was ₹50,000. To avoid TDS if your total income is below the taxable limit, you can submit Form 15H to the bank.

Under Section 80TTB of the Income Tax Act, senior citizens can claim a deduction of up to ₹50,000 on their interest income from bank FDs, RDs, and savings accounts, which helps reduce their overall taxable income.

Key Takeaways

JK Bank FD rates for senior citizens range from 4.00% to 7.60% per annum, a benefit of 0.50% higher than regular FDs, depending on the chosen tenure. Tax-saving FDs qualify for a deduction under Section 80C, but the interest earned on these deposits remains taxable. Senior citizens can open an FD account either through an online or offline process, offering a Low minimum deposit requirement, a sweep-in/sweep-out facility, with premature withdrawal with a reasonable penalty.