Better Returns On Short-Term FDs! J&K Bank Hikes Rates Up To 100 Bps, Latest Rate Hike Explained

One of India's earliest private sector banks, Jammu & Kashmir Bank (J&K Bank) is a Scheduled Commercial Bank that was established in 1938 and has its headquarters in Srinagar. As one of the top banks in the Union Territories of Jammu & Kashmir and Ladakh, the bank is listed on both the NSE and the BSE. The Reserve Bank of India has appointed the bank as its sole administrator for conducting banking operations on behalf of the Government of Jammu & Kashmir and Ladakh.

J&K Bank FD Rates

Jammu and Kashmir Bank (J&K Bank) has modified the interest rates on domestic term deposits under Rs 3 crore as of March 11, 2025. Both new deposits and the renewal of maturing accounts are subject to the revised rates. Furthermore, an additional 0.50% interest rate is still awarded to senior citizens over 60 for all maturities. The bank is giving an interest rate of 3.50% on fixed deposits that mature between 7 to 30 days, while it has raised the interest rate by 100 basis points (bps) from 3.50% to 4.50% on those maturing in 31 to 45 days.

J&K Bank increased interest rates by 75 basis points from 5.25% to 6% for FD tenures ranging from 46 to 90 days, and from 5.50% to 6.25% for tenures ranging from 91 to 180 days.

At J&K Bank, fixed deposits that mature between 181 and 332 days will continue to earn 6.25% interest, while those that mature in 333 days will continue to earn 7.00%. The bank will give 6.25% interest on fixed deposits maturing in 334 days to less than a year, and J&K Bank will continue to offer 7.00% interest on those maturing in 1 year to 443 days. J&K Bank will continue to charge 7.25% interest on deposits with a duration of 444 days and 7.00% interest on deposits with a duration of 445 days to 887 days.

Fixed deposits that mature in 888 days will now earn 7.30% interest, up from 7% before, while those that mature in 889 days to less than three years will still get 7.00% interest at J&K Bank. The bank will pay 6.75% interest on fixed deposits that mature in three to less than five years, and J&K Bank will pay 6.50% interest on those that mature in five to ten years.

Maturity Period	Deposit Type	Current Interest Rates per Annum	Revised Interest Rates per Annum w.e.f March 11, 2025
7 days to 30 days	Domestic/NRO	3.50%	3.50%
31 days to 45 days	Domestic/NRO	3.50%	4.50%
46 days to 90 days	Domestic/NRO	5.25%	6.00%
91 days to 180 days	Domestic/NRO	5.50%	6.25%
181 days to 270 days	Domestic/NRO	6.25%	6.25%
271 days to 332 days	Domestic/NRO	6.25%	6.25%
333 Days	Domestic/NRO	7.00%	7.00%
334 Days to less than 1 year	Domestic/NRO	6.25%	6.25%
1 Year to 443 days	Domestic/NRO/NRE	7.00%	7.00%
444 days	Domestic/NRO/NRE	7.25%	7.25%
445 Days to less than 2 years	Domestic/NRO/NRE	7.00%	7.00%
2 years to 887 days	Domestic/NRO/NRE	7.00%	7.00%
888 days	Domestic/NRO/NRE	7.00%	7.30%
889 days to less than 3 years	Domestic/NRO/NRE	7.00%	7.00%
3 years to less than 5 years	Domestic/NRO/NRE	6.75%	6.75%
5 years to 10 years	Domestic/NRO/NRE	6.50%	6.50%
Source: Bank Website

"The above rates are applicable for fresh deposits and renewal of maturing deposits for amounts less than Rs 3.00 Crores. The minimum contract period of NRE deposits is 1 year. Domestic Term Deposits of Senior Citizens of over 60 years of age shall continue to earn 0.50 % additional rate across all maturities," mentioned Jammu & Kashmir Bank on its website.

Individuals, either individually or in partnership, parents/guardians acting on behalf of children, sole proprietorships, partnerships, private and public limited companies, HUFs, associations, societies, trusts, etc., can all establish fixed deposit accounts at J&K Bank.