Jammu & Kashmir Bank Modifies Interest Rates On FDs (W.e.f. February 11, 2022)

Jammu and Kashmir Bank, a private sector lender, has adjusted interest rates on domestic term deposits of less than Rs. 2.00 crore. The revised rates are effective as of February 11, 2022, and the bank has also changed the interest rates on non-withdrawable and withdrawable deposits.

Jammu & Kashmir Bank Fixed Deposit Interest Rates For Regular Customers

The general public will now get interest rates of 2.90 percent and 3.00 percent on domestic term deposits of less than Rs. 2.00 Cr maturing in 7 days to 30 days and 31 days to 45 days. Regular customers will now get 3.25 percent and 4.00 percent interest rates on term deposits maturing in 46 days to 90 days and 91 days to 180 days, respectively. Jammu and Kashmir Bank is currently giving the general public interest rates of 4.40 percent and 4.50 percent on deposits maturing in 181 days to 270 days and 271 days to less than a year. Non-senior citizens will now get 5.10 percent interest, 5.20 percent interest on deposits maturing in 1 year to less than 2 years, and 2 years to less than 3 years. The bank is currently giving a 5.30 percent interest rate on deposits maturing in three to ten years.

Tenure	Regular interest rates p.a.
7 days to 30 days	2.90%
31 days to 45 days	3.00%
46 days to 90 days	3.25%
91 days to 180 days	4.00%
181 days to 270 days	4.40%
271 days to less than 1 Year	4.50%
1 year to less than 2 years	5.10%
2 years to less than 3 years	5.20%
3 years to less than 5 years	5.30%
5 years to less than 10 years	5.30%
Source: Bank Website

Jammu & Kashmir Bank Fixed Deposit Interest Rates For Senior Citizens

Domestic Term Deposits maintained by senior citizens over the age of 60 will continue to receive an additional 0.50 percent rate across all tenors.

Tenure	Interest rates p.a. for senior citizens
7 days to 30 days	3.40%
31 days to 45 days	3.50%
46 days to 90 days	3.75%
91 days to 180 days	4.50%
181 days to 270 days	4.90%
271 days to less than 1 Year	5.00%
1 year to less than 2 years	5.60%
2 years to less than 3 years	5.70%
3 years to less than 5 years	5.80%
5 years to less than 10 years	5.80%
Source: Bank Website

Jammu & Kashmir Bank Interest Rates On Withdrawable Term Deposits

On February 11, 2022, the bank also revised its interest rate on withdrawable term deposits with amounts ranging from 2.00 crore to less than 5.00 crore. Domestic Term Senior Citizens over the age of 60 will continue to earn an additional 0.50 percent interest rate across all maturities in this category.

Tenure	Current Interest Rates per Annum	Revised Interest Rates per Annum
7 days to 30 days	2.90%	2.90%
31 days to 45 days	3.00%	3.00%
46 days to 90 days	3.00%	3.00%
91 days to 180 days	3.00%	3.00%
181 days to 270 days	3.25%	3.25%
271 days to less than 1 Year	3.50%	3.50%
1 year to less than 2 years	3.75%	3.75%
2 years to less than 3 years	4.00%	4.00%
3 years to less than 5 years	4.00%	4.00%
5 years to less than 10 years	4.00%	4.00%
Source: Bank Website

Jammu & Kashmir Bank Interest Rates On Non-Withdrawable Term Deposits

The bank has changed its interest rate on non-withdrawable term deposits with balances ranging from 2.00 crore to less than 5.00 crore on February 11, 2022. NRE Term Deposits have a one-year minimum deposit period.

Tenure	For Rs 2.00 Crs to Rs 2.50 Crs	Above Rs 2.50 Crs to Less than Rs 5.00 Crs
91 days to 180 days	3.10%	3.10%
181 days to 270 days	3.35%	3.35%
271 days to less than 1 year	3.60%	3.60%
1 year to less than 2 years	3.85%	3.85%
2 year to less than 3 years	4.10%	4.10%
Source: Bank Website