Jammu And Kashmir Bank Limited Home Loan Interest Rate at 8.75% to 9.85%
| INTEREST RATE | 8.75% to 9.85% |
| LOAN TENURE | 15 Years |
| PROCESSING FEE | 0.25% of the loan amount with minimum of Rs. 500 and maximum of Rs 10000/- plus applicable service tax. However, 50% waiver in processing charges shall be provided to women borrowers (both for sole/joint borrower). |
| GUARANTOR REQUIRED | Please Contact Bank Branch |
| PRE CLOSURE CHARGES | Nil |
Calculate Jammu And Kashmir Bank Home Loan EMI Calculate EMI Now
About Jammu And Kashmir Bank
Jammu And Kashmir Bank Limited is a private sector bank in india. Jammu And Kashmir Bank Limited was founded on 1938. It provides all the financial services to its customers like saving deposit, fixed deposit, recurring deposit, home loans, personal loan, car loan, education loan, gold loan, PPF account, lockers, netbanking, mobile banking, RTGS, NEFT, IMPS, E-Wallet, Atal Pension Yojana, Pradhan Mantri Jandhan Yojana, Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana and many more.
Find details about Jammu And Kashmir Bank Limited which includes Jammu And Kashmir Bank Limited Official Website, Jammu And Kashmir Bank Limited ATMs accross the India, Jammu And Kashmir Bank Limited Branches accross the India, Jammu And Kashmir Bank Limited Contact Numbers, Jammu And Kashmir Bank Limited official EmailID, Jammu And Kashmir Bank Limited Headquarter and Jammu And Kashmir Bank Limited Headquarter Address. Find Jammu And Kashmir Bank Limited Home loan purpose, Eligibility, Margin, Repayment of Home Loan ,Security, Document Required for Home Loan from below.
Why Jammu And Kashmir Bank Home Loan?
- Jammu And Kashmir Bank provides a range of Home Loan Schemes designed for different needs of customers
- Interest Rate is very competitive and affordable
- Minimal Documentation
- It provides Flexible Repayment Options to the borrowers
- Easy and fast approval & disbursal of home loans
- Has dedicated team of well-experienced employees which also offer personalised service
- 24/7 customer care service of Jammu And Kashmir Bank offers timely assistance to the customers
Jammu And Kashmir Bank Home Loan Purpose
Construction of house or flat for new dwelling units, purchase of residential plots, cost for existing dwelling units | repairs, extension of your existing home, transfer of an existing home loan from another financial institutionJammu And Kashmir Bank Home Loan Eligibility
- The applicant must be an Indian citizen or a fully documented NRI. He, essentially, must be a Person of Indian Origin (PIO).
- The applicant's age must be in the range of 18 years and 70 years at the time of loan maturity.
- The applicant must be salaried or self-employed with a regular income.
- The applicant must earn more than the minimum required income.
Jammu And Kashmir Bank Home Loan Document Required
- Duly filled and signed application form with photograph
- Identity Proof- Aadhar Card, PAN Card, Passport, Driving License, Voter id card, ID-card issued by Government
- Address Proof - Aadhar Card, Passport, Driving License, Voter id card, Electricity/ Telephone/ Post-Paid Mobile bill, Bank statement
- Age Proof - Passport, Birth Certificate, PAN card, Driving License, Voter id card, Employee ID card (only for PSU/ Government employees), School/ College leaving certificate
- Form 16
- Latest 6 months salary slips for salaried persons
- Bank Statement of last 6 months
- Income Tax Returns (ITR) of last 3 years
- Last 3 years CA Certified or Audited Balance Sheet and Profit & Loss Account
- Processing fee Cheque
- Copies of the title documents of the property and the approved plan
- For Construction/ Renovation case, cost estimate from the Architect
Tax Benefits of availing Jammu And Kashmir Bank Home Loan
There are two types of tax benefits associated with home loan for Resident Indians:
Repayment of the Principal Amount: One can get a Tax rebate under section 80C of the Income Tax Act on whole amount repaid by him in a financial year, maximum upto Rs. 1,50,000/- each financial year (Increased from 1 Lakh to Rs. 1.5 Lakh in Budget 2014).
Repayment of the Interest on Home Loan: Tax Benefit on Home Loan for payment of Interest is allowed as a deduction under Section 24(1) of the Income Tax Act. One is eligible for a Tax Rebate of maximum of Rs. 2 lakh per financial year for home loan interest paid by him/her during that financial year.
Jammu And Kashmir Bank Home Loan Amount
Loan amount is subject to market value of the porperty and repayment capacity of the applicant, as per bank's assessmentMargin
10% to 25% of the loan amountJammu And Kashmir Bank Home Loan Repayment
Maximum period of 15 YearsSecurity
Registered Mortgage of house property/flat to be constructed/ purchased. In case of Pensioners- guarantee of spouse | Legal Heir, who is entitled for family pension, is to be obtained and for NRI, third party guarantee of two resident Indians of sufficient means to cover the liability apart from the other securities shall be obtained.In Case of Prepayment of Jammu And Kashmir Bank Home Loan, will EMI change?
One can pre-pay Jammu And Kashmir Bank Home Loan without any prepayment charges as it allows prepayment at nil charges in case of floating rate home loans. If the borrower makes a prepayment, the outstanding balance of principal amount of his home loan reduces. Then in that case he has following 2 options:
- He can continue with the existing and reduce the loan tenure
- He can reduce the EMI and keep the loan tenure the same
Out of above 2 options, first option is more beneficial for the borrower as he pay less interest to the bank as the pay off home loan will be faster.
How to reduce your Home Loan EMI?
- Negotiate with your banker on lower interest rate
- Apply for longer tenure
- Give maximum amount as down payment
- Pre-pay loan amount
- Switch to another bank/ FI offering lower interest rate
Contact details of Jammu And Kashmir Bank Limited, Jammu And Kashmir Bank Limited SMS balance check number SMS banking, Jammu And Kashmir Bank Limited mobile banking, Jammu And Kashmir Bank Limited toll free number,Jammu And Kashmir Bank Limited toll free number 24*7, Jammu And Kashmir Bank Limited miss call number.
- MISSED CALL NUMBERS - 18001800234
- CUSTOMER CARE NUMBERS - 18008902122, 0194-2481999
- CONTACT NUMBERS - 18008902122, 0194-2481999
Jammu And Kashmir Bank Limited Contact Details
- BANK OFFICIAL WEBSITE - https://www.jkbank.com
- CONTACT NUMBERS - 18008902122, 0194-2481999
- EMAIL ID - [email protected]
- MISSED CALL NO. - 18001800234
- CUSTOMER CARE NO. - 18008902122, 0194-2481999
- TOTAL BRANCHES - 1180
- HEADQUARTER - Srinagar
- BANK ADDRESS - Maulana Azad Road, Srinagar-190001, Jammu and Kashmir
Jammu And Kashmir Bank Home Loan FAQs Home Loan Document Required
