Jammu And Kashmir Grameen Bank Car Loan

Jammu And Kashmir Grameen Bank Car Loan Interest Rate (Updated on 21 Apr 2019)

INTEREST RATE9.50% to 12.75%
LOAN TENUREMax. 84 EMI
PROCESSING FEEAs decided by the bank from time to time
GUARANTOR REQUIREDYes
PRE CLOSURE CHARGESAs decided by the bank from time to time

Jammu And Kashmir Grameen Bank

Jammu And Kashmir Grameen Bank is a gramin bank in india established on 30-06-2009. It has headquarter in Jammu and address is Near Fruit Complex, Narwal, Jammu - 180 006, Jammu & Kashmir. it has 132 branches across the state.

It provides all the financial services to its customers like saving deposit, fixed deposit, recurring deposit, loans, personal loans, netbanking, RTGS, NEFT, IMPS, Atal Pension Yojana, Pradhan Mantri Jandhan Yojana, Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana and many more.

Jammu And Kashmir Grameen Bank Car Loan Interest Rates, Car Loan at 09.50% to 12.75% Updated on 21 Apr 2019. Apply for Car Loans Online. Find Jammu And Kashmir Grameen Bank Car loan purpos, Eligibility, Margin, Repayment of Car Loan ,Security, Documents Required for Car Loan from below.

Other Products of Jammu And Kashmir Grameen Bank:

Jammu And Kashmir Grameen Bank Car Loan Purpose

To purchase a car for personal use.

Jammu And Kashmir Grameen Bank Car Loan Eligibility

  1. Age: 21 to 60 years.
  2. Permanent employees of State/Central Govt., Public Sector Undertakings, Corporations, Private Sector Companies and reputed establishments.
  3. Professionals, self-employed and others who are income tax assessees and persons engaged in agriculture and allied activities.

Jammu And Kashmir Grameen Bank Car Loan Documents Required

  1. Applicant's latest photograph.
  2. Age Proof- Mark sheets/pass certificates of S.S.C., H.S.C, Degree courses (Optional)
  3. KYC (Know Your Customer) Documents.
  4. Identity Proof (any one): Voter's ID, PAN card, driving license, passport.
  5. Address Proof (any one): Voter's ID, PAN card, driving license, passport, electricity bill, telephone bill or ration card.
  6. Income Proof (any one): Latest salary slip, previous year's Form 16, bank statement for the last 6 months.
  7. Bank Statement or Bank Pass Book of having entries of last 6 months

Jammu And Kashmir Grameen Bank Car Loan Amount

  • 30 months net monthly salary in case of employees or 2.5 times net annual income for all other persons. (The income can be assessed/ verified from salary certificate, latest Income Tax Assessment order or Certificate from Tehsildar/ qualified CA).
  • In case of married individuals, certified income of spouse can also be considered provided the spouse guarantees the loan.
  • The upper ceiling of the loan amount shall be Rs.15.00 Lakh.

Margin

  • 15% of the Sale Invoice value of the vehicle.
  • 100% finance shall be available to applicants, having fixed deposit with the bank for amount equal or more than the margin money and for duration not less than the repayment period of the loan. This deposit shall be kept under lien to the bank.

Jammu And Kashmir Grameen Bank Car Loan Repayment

Flexible repayment options ranging from 12 to 84 months in equal monthly installments. Prepayment shall be allowed without any prepayment charges.

Security

  • Primary : Hypothecation of Car/ Vehicle to be purchased and Bank's charge to be registered with Regional Transport Authority (RTO).
  • Collateral : Guarantee of one person having sound financial net means good for the loan amount.

Tips to Manage Car Loan in a Better Way

(1) Make Proper Schedule for EMIs to be paid

You must make a proper schedule for payment of your EMIs in time and without any hassle or burden.

(2) Never Skip any Payment

Automatic transfer from your bank account is the best option that will make sure that the EMIs are paid every month without fail. In this way, none of the EMIs will skip. This will also help improving your credit score.

(3) Keep Loan Tenure Small

You must keep the car loan tenure as small as possible if your finances permit. It will be beneficial for you in two ways. First, you will get rid of loan in an early manner and second, your interest outgo will be very less as compared to longer tenure car loans.

(4) Make one Extra Payment Every Year

You must try to make an extra payment of loan amount each year. You can do so when you receive any funds like bonus etc. It will reduce your loan tenure or EMIs.

(5) Refinance your Car Loan

You must keep watching other institutions who are offering car loans and their interest rates. If other institution is offering you a car loan at lower interest rate, it would be beneficial to get your car loan refinanced from that institution.

Jammu And Kashmir Grameen Bank Contact Details

  • BANK OFFICIAL WEBSITE - www.jkgb.in
  • CONTACT NUMBERS - 0191-2490021,2490009,2490992
  • EMAIL ID - cmo.hoj@jkgb.in
  • TOTAL BRANCHES - 132
  • HEADQUARTER - Jammu
  • BANK ADDRESS - Near Fruit Complex, Narwal, Jammu - 180 006, Jammu & Kashmir

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Upcoming Bank Holidays

2019 April 27 is a bank holiday in Andaman And Nicobar Island due to 4th Saturday Bank Holiday.
2019 May 01 is a bank holiday in Andhra Pradesh due to May Day / Labour Day.
2019 May 01 is a bank holiday in Maharashtra due to Maharashtra Din.
2019 May 07 is a bank holiday in West Bengal due to Rabindranath Tagore Jayanti.
2019 May 11 is a bank holiday in Andaman And Nicobar Island due to 2nd Saturday Bank Holiday.
2019 May 16 is a bank holiday in Sikkim due to Sate Day.

Jammu And Kashmir Grameen Bank Banks Loan Service

Highest FD Interest Rates

Bank NameTenureInterest(p.a.)
Esaf Small Finance Bank 12 Months8.75%
Suryoday Small Finance Bank12 Months8.50%
Utkarsh Small Finance Bank12 Months8.50%
Equitas Small Finance Bank 12 Months8.50%
North East Small Finance Bank 12 Months8.50%
Ujjivan Small Finance Bank 12 Months8.30%
Indusind Bank12 Months8.00%
Rbl Bank 12 Months8.00%
Fincare Small Finance Bank Ltd12 Months8.00%
The Nainital Bank 12 Months7.90%

Senior Citizen FD Interest Rates

Bank NameTenureInterest(p.a.)
Esaf Small Finance Bank 12 Months8.75%
Suryoday Small Finance Bank12 Months8.50%
Utkarsh Small Finance Bank12 Months8.50%
Equitas Small Finance Bank 12 Months8.50%
North East Small Finance Bank 12 Months8.50%
Ujjivan Small Finance Bank 12 Months8.30%
Indusind Bank12 Months8.00%
Rbl Bank 12 Months8.00%
Fincare Small Finance Bank Ltd12 Months8.00%
The Nainital Bank 12 Months7.90%