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JK Bank FD Calculator

Jammu And Kashmir Bank Fixed Deposit Calculator 2022

Last Updated 20th Jan 2022

Jammu And Kashmir Bank FDs have tenures ranging from 3 years to 10 years with maximum rate of interest of 5.30%. Interest rates for senior citizens are higher than the normal rates and ranges upto 5.80%.

Tenure Interest Rate for General Public Interest Rate for Senior Citizens Max Maturity Amount per Lakh
7 days to 30 days 3.00% 3.50% ₹ 1,00,058 - ₹ 1,00,288
31 days to 45 days 3.10% 3.65% ₹ 1,00,263 - ₹ 1,00,450
46 days to 90 days 3.25% 3.75% ₹ 1,00,410 - ₹ 1,00,925
91 days to 180 days 4.00% 4.50% ₹ 1,00,997 - ₹ 1,02,231
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Jammu And Kashmir Bank Fixed Deposit Calculator

Jammu And Kashmir Bank fixed deposit calculator helps you calculate maturity value of your deposited amount at the interest rate which is compounded quarterly. The amount of fixed deposits, interest rates on FD, deposit tenure and compounding frequency of interest together determine the maturity amount of the FD at the end of the tenure.

  • Deposit amount – This is the initial amount deposited by a customer in Jammu And Kashmir Bank. Banks may allow a higher interest rate on larger deposits. Jammu And Kashmir Bank offers a deposit amount in the range of Rs. 1,000 to No Limit.
  • Rate of Interest - Interest rate is the rate charged by the bank on your fixed deposit. Jammu And Kashmir Bank offers a higher rate of interest on fixed deposits of longer tenure and lower interest rate on deposits of less than a year. Highest interest rate offered by Jammu And Kashmir Bank is 5.30% for deposit amount below Rs. 1 crore corresponding to a deposit tenure of 3 years to 10 years.
  • Period of deposit - Bank offers low interest rate for short tenure FDs and higher interest rate for long tenure FDs. Bank offers a rate of 3.00% for a 3 years FD and a rate of 5.30% for a 10 years FD.
  • Interest Compounding Frequency - This determines the frequency at which interest is compounded. Compounding frequency can be monthly, quarterly, half yearly or annual frequency.
  • TDS applicability and TDS rate - A TDS of 10% of interest amount is applicable if you earn more than Rs 40,000 in a year from FD, which is called FD income. If you do not submit the PAN Card to the bank then TDS rate will be 20% of interest amount.
    • Illustration: Mr. A opens a FD account of ₹ 1,00,000 with a tenure of 7 days at an interest rate of 3.00%. In this case, the maturity amount at the end of 7 days will be ₹ 1,00,671 which includes the principal of ₹ 1,00,000 and interest of ₹ 671 is earned on the principal amount during the period. Similarly, you can calculate the interest and maturity amount for higher tenures by using FD calculators.

      Jammu And Kashmir Bank calculates quarterly interest on its fixed deposits. You can also opt for a tax saving scheme to save tax on fixed deposit.

How to Use MyLoanCare FD Calculator

Here is a simple procedure to use MyLoanCare FD calculator:-

  • Go to the FD Calculator.
  • Fill the fields like Deposit Amount, Rate of Interest, Period of Deposit (In years or months), Interest compound frequency.
  • Click Calculate.
  • Result will be shown, which will consist of total maturity amount and total interest earned

Jammu And Kashmir Bank Fixed Deposit Interest Rate Calculator – Interest Payment Options

  • Non Cumulative- In a periodic interest payout option, Jammu And Kashmir Bank would transfer the interest earned at each interval (say, quarterly) to your bank account. The interest would remain the same across the life of the deposit. On maturity, unless the deposit is renewed, would transfer the principal amount to your bank account.
  • Cumulative- In case you opt for a Jammu And Kashmir Bank cumulative deposit on maturity you would get a credit for the principal and interest earned net of TDS.

How is Jammu And Kashmir Bank FD Rate Calculated?

Jammu And Kashmir Bank calculates fd interest in two ways, one is cumulative and non-cumulative as discussed above. It is a decision made by you whether you want interest payout at the end of the tenure or monthly, quarterly, half-yearly or yearly. To earn more money you can go for a cumulative method because interest earned throughout the tenure is added to the principal amount and is compounded then. However, if you are looking for monthly income or so then you can go for non-cumulative.

Jammu And Kashmir Bank FD Maturity Calculation for 5 Year

The interest earned on a fixed deposit in Jammu And Kashmir Bank depends on the deposit amount, interest applicable, deposit tenure and the type of interest calculation frequency. Interest on Jammu And Kashmir Bank FD can be calculated monthly, quarterly, half-yearly and annually.

Let’s understand how much interest you will earn if you invest ₹ 1,00,000 in Jammu And Kashmir Bank FD for a 5-year tenure at an interest rate of 5.30% for depositors below 60 years and 5.80% for senior citizens.The maturity schedule of Jammu And Kashmir Bank FD for 5 years is explained below in the table –

Maturity Schedule for ₹ 1,00,000 FD at 5.30% for Citizens below 60 years and at 5.80% for Senior Citizens for 5 years

Year Citizens below 60 Years of Age Senior Citizens above 60 Years
Interest Earned Closing Balance Interest Earned Closing Balance
2022 ₹ 5,406 ₹ 1,05,406 ₹ 5,927 ₹ 1,05,927
2023 ₹ 5,699 ₹ 1,11,105 ₹ 6,279 ₹ 1,12,206
2024 ₹ 6,007 ₹ 1,17,112 ₹ 6,651 ₹ 1,18,857
2025 ₹ 6,331 ₹ 1,23,443 ₹ 7,045 ₹ 1,25,902
2026 ₹ 6,674 ₹ 1,30,117 ₹ 7,463 ₹ 1,33,365

Jammu And Kashmir Bank FD Calculator Formula

Along with an online FD Calculator, you can use the formula to do the mathematical calculation of the maturity amount and interest earned on Jammu And Kashmir Bank FD.

A = P (1 + r/n) ^ n*t
In the above formula –

  • A - Amount received on maturity
  • P - Deposit amount
  • r - Annual interest rate
  • n - Number of times the interest is compounded
  • t is Investment tenure

Other Investment Calculators

FAQs

What is the highest interest earned on Jammu And Kashmir Bank fixed deposit?

You can earn a maximum interest of 5.30% on Jammu And Kashmir Bank fixed deposits.

How many years FD will double in Jammu And Kashmir Bank?

The growth of Jammu And Kashmir Bank FD depends on the rate of interest and tenure. There is a method called Rule 72, which computes the number of years it will take to double one’s amount invested in Jammu And Kashmir Bank FD.You can also use Jammu And Kashmir Bank fd calculator to calculate the maturity amount. Now to apply the rule, one needs the rate of interest we get on FD. Let’s say the interest offered on FD is 7.05%. Now applying the rule, just divide the number 72 by the rate of interest. So 72/7.05 = 10.21. So it will take a little more than 14 years for one’s investment to get doubled in Jammu And Kashmir Bank.

What are the minimum and maximum amounts that I can invest in an Jammu And Kashmir Bank FD?

The minimum investment limit in Jammu And Kashmir Bank Fixed deposit account is ₹ 1,000 and there is no maximum investment limit on FD.

Can I withdraw my premature FD from Jammu And Kashmir Bank?

Yes, you can withdraw your premature FD amount if you want money before the tenure ends.

How can I calculate Jammu And Kashmir Bank premature FD amount?

To calculate premature FD amount you can use Jammu And Kashmir Bank bank fd calculator. All you have to put is the value of the invested amount, tenure, interest rate and premature penalty rate (if any).


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JK Bank News - Jan 2022
  • 2021-11-01 : Jammu and Kashmir Bank Revises FD Rates
    Jammu and Kashmir Bank has revised the interest rate for fixed deposits on different tenures. The bank is offering an interest rate of 5.30 percent for 3 year to 5 year tenure. Senior citizens will get a 0.50 percent higher interest rate than the general rate.
  • 2020-05-14 : Jammu and Kashmir Bank revised its FD rates
    Jammu and Kashmir Bank revised the fixed deposits rates, which are in effect from 11 January 2020. FD rates for 7 to 30 days is 3.50%, for 31 to 45 days it is 3.75% and 46 to 180 days it is 4.50%. Fixed deposits rate for 181 to 270 days is 5% and for 271 days to less than one year is 5.25%. The rate for long tenors of one year to less than three years is 5.70% and for three years to less than 10 years, the rate stands at 5.50%. The revised rates will be effective from 11 May 2020.
  • 2020-01-13 : Jammu and Kashmir Bank revised its FD rates
    Jammu and Kashmir Bank revised the fixed deposits rate which are in effect from 11 January 2020. FD rates for 7 to 30 days is 4.50%, for 31 to 45 days it is 5% and 46 to 180 days it is 5.50%. Fixed deposits rate for 181 to 270 days and 271 days to one year is 5.75% and 6%. Rate for long tenors of one year to two years is 6.25%and 2 years to less than 3 years is 6.30%. Further, the Fixed deposit rate for 3 years to 5 years is 6.25% and 5 years to 10 years is 6%.
  • 2019-10-18 : Revised Fixed Deposit rates by Jammu and Kashmir Bank
    Jammu and Kashmir Bank revised its interest rates on Fixed Deposits for October. The revised interest rate for 7-30 days is 4.75, for 31-45 days it is 5.25, the rate for 46-90 days is 5.75, for 91-180 days it is 5.50%, the rate for 181- 270 days is 5.75%, and for 271 days to 1 year, the rate is 6.00%. For longer tenures of 1-5 years, the rate is 6.50%, and for 5-10 years, it is 6.00%. For Senior citizens, the rates differ by an additional 50 basis points.
  • 2019-07-17 : J&K Bank revises interest rates on term deposits
    J&K Bank has revised interest rates on domestic term deposits with immediate effect. The rates have been revised for an amount less than Rs. one crore. For 7 to 30 days, the rate has been revised to 5.00%. While the rate for 1 year has been revised to 7.30 % respectively and for 5 year to 10 year the rate now stands at 6.50%. The revised rates are effective from July 10, 2019.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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