JK Bank Consumer Loan Scheme Check Eligibility and Rate of Interest

• Term Loan

• For purchase of following House hold Goods (not for Commercial Activity):
  • TV (LCD, LED, 3D etc.)
  • Refrigerators and Deep freezers.
  • Washing Machines.
  • Home theater and Music systems.
  • Vacuum Cleaners.
  • Water Purifiers.
  • Geysers.
  • AC (Split as well as Window)
  • Heating Equipment’s ( Electric Heaters including Oil fired Heaters, LPG Heaters/ Bukharis)
  • Generators (only non-kerosene).
  • Invertors Complete Kit.
  • Invertor Batteries
  • Furniture (Steel & Wooden)
  • Cooking Range ETC.

• Permanent Employees of State / Central Government, Government / Semi-Government Undertakings & Autonomous Bodies.
• Employees on contractual basis with Central/State Govt, Government/Semi-Government Undertakings& Autonomous bodies shall be eligible, if they have been in current contractual job for a period not less than I year and the remaining contract period is longer than the chosen repayment period.
• Teachers under Rehaber-a-Taleem, J&K Govt.
• Officials under Rehaber-a Zeerat, J&K Govt.
• Pensioners both State/Central drawing their monthly salaries/pension through our bank.
• Employees of Private Limited Companies, Private Organizations, Reputed Establishments having a minimum 1 year relationship with our bank (Assets or liabilities).
• Professionals, self-employed individuals (Businessmen included) & Proprietorship Concerns, having a minimum 1 year relationship with our bank (Assets or liabilities)
• Finance under this Scheme shall also be provided to regular teachers of recognized private schools (must be permanent residents of Union Territories of J&K and Ladakh).

NOTE:Employees on Adhoc basis shall not be eligible.

• Minimum Age        :           21 years.
• Maximum age of Applicant at loan maturity:
  • For employees : one month before retirement
  • For pensioners: 70 Years.
  • For others: 65 years.

• Maximum : Rs. 1,50,000/-

• 10% of the cost of Consumer Durable Item (s).

• PRIMARY:
  • For loans Up to Rs. 40000/-         :           NIL
  • Loan amount Above Rs. 40,000.00          :           Hypothecation of Goods be purchased.
• COLLATERAL:
  • Permanent Government employees drawing salary through our Branches & where letter of confirmation is available. For Pensioners the spouse of the pensioner should be taken as Co- Borrower.
  • Platinum / Gold / Premium plus Current account holders, having maintained satisfactory accounts for at least last 6 months.
  • Cash Credit / SOD account holders having a sanctioned limit above Rs 5 lacs and minimum average utilization percentage above 70% from at least 6 months prior to this facility.
  • Customers having Fixed Deposit accounts of value more than Rs. 5 Lakh in the Business unit sanctioning the facility. The deposit should be more than 4 months old at the time of disbursement of the loan.

• • • Third Party Guarantee of one person for all other categories.

• For loans up to Rs. 75000.00               :           Rs 250.00 plus applicable GST.
• For Loans above Rs. 75001.00                        :           Rs 500.00 plus applicable GST.

• 3 year MCLR plus 3 %, fixed rate of interest with monthly rests.
• Click here for rate of Interest

• Maximum loan tenor 48 months

• NIL

• Nil