Jammu and Kashmir Bank Home Loan
Eligible customers can avail themselves of housing loans from Jammu and Kashmir bank at attractive interest rates. Loans are given provided at an interest rate that starts from 8.75% p.a. onwards for the non-salaried individuals and 8.85% p.a. onwards for the salaried individuals.
The processing fee is 0.25% of the loan amount plus applicable GST. The repayment tenure is 30 years for salaried individuals and 20 years for other customers.
We found 1 Jammu and Kashmir Bank Home Loan
Balance Transfer
Jammu And Kashmir Bank Home Loan
Loan Amount
:Up to ₹50L
Floating
:8.75%
Tenure
:1 - 30 Years
Processing Fee
:2.00% - 3.00%
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Fees & Charges
- Preclosure fee = ₹0
Documents
- KYC-PAN, address & ID proof
- Income proof, bank statement and two photographs
What you'll love
- No pre-closure fee
Perks
Balance Transfer
Top-up Loan Available
Part-Payment Available
No Guarantor Required
Door Step Service
E-Approval
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- This Company is not a partner. Visit its website/branch office for more details. Trademarks, logos and other intellectual property belong to their respective owners.
J&K Bank offers a housing loan for the purchase or construction of a residential house/flat, and for the purchase of a plot. Additional loan within the overall loan ceiling is also offered for renovation, addition, alteration, and repairs to existing houses or flats. This housing loan can also be availed for the purchase or construction of a second home.
The maximum tenure offered is 30 years with floating interest rate packages starting from 8.75% p.a. for the non-salaried individuals and 8.85% p.a. onwards for the salaried individuals. The processing fees charged on the loan is 0.25% of the loan amount plus GST.
Compare: Home Loan Interest Rate all Banks
J&K Bank Home Loan
Key Highlights:
- Term loan offered for construction/purchase of house/flat with the option of supplementary financing for renovations.
- Quantum of financing up to 75% offered. Margin is between 10% and 25%.
- Moratorium period of up to 12 months provided: 12 months for applicants from J&K, 9 months for applicants from other states (for the purpose of constructing a house).
Interest Rate | 8.75% p.a. to 9.85% p.a. |
Processing Fee | • 0.25% + GST (min.: Rs.5,000; max.: Rs.50,000). |
J&K Bank Home Loan EMI Calculator
You can calculate your equated monthly instalments (EMI) towards your home loan by using an EMI calculator. The EMI per lakh on this loan starts from Rs.794.
On the Home Loan EMI Calculator, enter your loan details including the amount, tenure, interest rate, and processing fees. You even have the option to choose if you'll be making prepayments on the loan. After entering the details, hit the 'Calculate' button to know your EMI.
Calculate Your J&K Bank Home Loan Monthly Repayment
Here is a table showing you what your EMIs could look like for different loan amounts and tenures under this home loan:
Rs.10 Lakh | Rs.20 Lakh | Rs.40 Lakh | Rs.50 Lakh | |
10 years | Rs.12,533 | Rs.25,065 | Rs.50,131 | Rs.62,633 |
20 years | Rs.8,837 | Rs.17,674 | Rs.35,348 | Rs.44,186 |
30 years | Rs.7,867 | Rs.15,734 | Rs.31,468 | Rs.39,335 |
Let's say that you are applying for the J&K Bank Home Loan for Rs. Rs.10 lakh, Rs.20 lakh, Rs.40 lakh, or Rs.50 lakh at an interest rate of 8.75% p.a. It is imperative that you know the latest J&K Bank home loan interest rates before entering the details in the EMI calculator.
J&K Bank Home Loan Eligibility Criteria
Age | Min.: 18 years on the sanction date Max.: 70 years |
Nationality | Resident and non-resident Indians |
Employment type |
|
Documents Required for All Home Loan Applicants Under J&K Bank
- Application form
- ID proof documents
- Address proof documents
- Income documents
- Property documents
Contact the bank to know about the specific documents you need to provide to successfully apply for this loan.
FAQs on J&K Home Loan
- Does the bank offer fixed-rate home loans?
Currently, the bank offers floating-rate home loans that are pegged to their MCLR with a reset clause of 1 year.
- What are the prepayment charges on J&K Bank home loans?
There are no prepayment charges on home loans offered by Jammu and Kashmir Bank floating-rate home loans.
- Is the maximum tenure of 30 years applicable to all loan applicants?
No. Salaried employees and professionals can avail a home loan with a maximum tenure of 30 years. However, for all other customers, the maximum tenure offered is 20 years. Other conditions may be applicable.
- Will my age be taken into consideration to determine the loan tenure?
Yes. Your age cannot be more than 70 years when your loan matures. Hence, for this purpose, your age will be a determining factor for your loan tenure.
- In case of a joint home loan application, how will the age be taken into consideration to compute the maximum eligible tenure?
The youngest borrower's age can be taken into consideration to calculate the loan tenure, if their contribution towards the EMI will be above 50%.
- Is there a moratorium period offered on home loans for the purpose of repairs/alterations/additions, etc.?
Yes. A moratorium period of up to 3 months is provided on home loans for repairs/alterations/additions.
News about Jammu and Kashmir Bank Home Loan
J&K Bank targets 16-17% home loan growth, aiming portfolio expansion
Jammu & Kashmir Bank (J&K Bank) targets 16-17% growth in home loans for FY25 by expanding its portfolio. The bank's Chairman and Managing Director, Baldev Prakash, is confident in achieving mid-teen growth in advances and about 12% growth in deposits. The focus on home loans helps diversify its loan portfolio and strengthen its retail banking segment. The bank plans to use its infrastructure and digital services to improve its market position. This strategy aims to meet growth targets and increase shareholder value. The bank's performance will be closely watched in the coming year.
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