Good News :J&K Bank Personal Finance For Festival Celebrations: To Take Benefits-Check Eligibility, Other Details Here

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J&K Bank Personal Finance For Festival Celebrations Scheme: Check Eligibility, Other Details Here

NATURE OF FACILITY
-Term Loan

PURPOSE
-To provide personal finance for festival celebrations.

ELIGIBILITY
-Permanent Employees/Pensioners of State/Central Government, Government/Semi-Government Undertakings & Autonomous Bodies drawing salary/pension from our Bank.

AGE OF THE APPLICANT

-Minimum: 18 years

-Maximum: 1 year less than the age of retirement i.e. 59 years where retirement is 60 years and 57 years where retirement age is 58 years

-Maximum: 69 years in case of pensioners

QUANTUM OF FINANCE

-Minimum:5,000

-Maximum:Average of previous three months’ net salary credited in the account ,subject to maximum of: 40,000 where average is less than 50,000
60,000 where average is greater than or equal to 50,000 but less than 80,000
75,000 where average is80,000 or above

-For Pensioners: 70% of the net pension credited in the account or20,000 whichever is lower

MARGIN

-Nil

SECURITY

-Primary: Nil
-Collateral: Nil

PROCESSING CHARGE
-Nil

REPAYMENT

-10 Equated Monthly Installments

PREPAYMENT

-No penalty

RATE OF INTEREST (SUBJECT TO CHANGE)

-1 year MCLR + 3.50 % P.a.(fixed) with monthly rests

Click here for rate of Interest

OTHER CONDITIONS

-The scheme shall be available on the occasion of following festivals only:

-Eid-ul Fitr, Eid-ul-Adha, Maha Shivratri, Navreh, Nowroz, Mela Desmochey, Baisakhi, Gurupurab, Mela Hemis Gumpa, Ashura, Diwali, Losar and Christmas.

-Loan under the scheme shall be available to all the eligible borrowers irrespective of their religion / community.

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