The Jammu & Kashmir Bank was formed under the patent issued by Hari Singh, the Maharaja of Jammu & Kashmir. The bank started its operations in 1939 and was established as a semi-state bank.

The bank netted a profit of INR 10 billion in its platinum jubilee year – 2013. The bank has over 800 computerized branches and over 1,000 ATM’s across the country.

jammu and kashmir bank fixed depositThe J&K bank has also been designated as the Reserve Bank of India’s agent for its banking businesses. The J&K Bank carries out all the banking business of the Central Government.

The bank offers competitive interest rates for its fixed term deposits. The normal tenor is from 7 days to 120 months. The bank is also services the NRI and NRE sector with extremely competitive rates with tenors ranging from 1 year to 3 years.

For deposits more than INR 1 crore and less than INR 5 crore, the bank offers one of the best interest rates in the country.

Domestic term/fixed Deposit Interest rate:

 TenureInterest rate below 1 crore

(% p.a)

Interest rate 1-5 crore

(% p.a.)

 7-30 days 5.00 5.50
 30-45 days 5.50 6.00
 45-90 days 6.50 6.50
 90-180 days 7.00 7.00
 180-270 days 7.25 7.25
 270  days – 1 year 7.50 7.40
 1-3 years 7.75 7.60
 3-5 years 7.60 7.50
5-10 years 7.35 7.25

Domestic/NRE/NRO fixed deposit Interest Rates Above 5 crore:

 Maturity RangeInteest rate

(% p.a.)

 1 year to 1 year 6 month 7.60
 1 year 6 month to 3 year 7.60
 3 years 7.50

NRE Deposit Interest rate:

 TenureInterest rate below 1 crore

(% p.a)

Interest rate 1-5 crore

(% p.a)

 1-3 years 7.75 7.60
 3-5 years 7.60 7.50
 5-10 years 7.35 7.25

NRO Fixed Deposit Interest rate:

TenureInterest rate below 1 crore

(% p.a

Interest rate 1-5 crore

(% p.a)

 7-30 days 5.00 5.50
 30-45 days 5.50 6.00
 45-90 days 6.50 6.50
 90-180 days 7.00 7.00
 180-270 days 7.25 7.25
 270 days – 1 year 7.50 7.40
 1-3 years 7.75 7.60
 3-5 years 7.60 7.50
 5-10 years 7.35 7.25

Table updated: 5 August, 2016

Important Notes:

  • Additional interest .50% is applicable to senior citizens for all maturities.
  • Minimum maturity for NRE fixed deposit is 1 year.