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Jammu And Kashmir Bank FD Calculator

Jammu And Kashmir Bank Fixed Deposit Calculator 2020

Last Updated 10th Sep 2020

Jammu And Kashmir Bank FDs have tenures ranging from 2 years to 31 years 10 months 5 days 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 Rates Maturity Amount for ₹ 1 Lakh
7 days to 30 days 3.00% to 3.50% ₹ 1,00,058 - ₹ 1,00,288
31 days to 45 days 3.25% to 3.75% ₹ 1,00,276 - ₹ 1,00,462
46 days to 90 days 3.75% to 4.25% ₹ 1,00,473 - ₹ 1,01,048
91 days to 180 days 4.10% to 4.60% ₹ 1,01,022 - ₹ 1,02,281
Jammu And Kashmir Bank FD Maturity Calculator
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Jammu And Kashmir Bank Fixed Deposit Calculator

Jammu And Kashmir Bank fixed deposit calculator helps you to calculate maturity value of your deposited amount at the interest rate offered compounded at 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. Bank may allow higher interest rate on larger deposits. Jammu And Kashmir Bank offers deposit amount in the range of 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 2 years to 31 years 10 months 5 days.
  • 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 2 years FD and a rate of 5.30% for a 31 years 10 months 5 days 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
    • 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 tax saving scheme to save tax on fixed deposit.

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

  • 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.
  • 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.
  • Calculate the FD maturity amount using the FD calculator.

FD Maturity Calculator

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. The interest rates for senior citizens are higher than normal rates of Jammu And Kashmir Bank FD.

Suppose if you make an investment of ₹ 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 amount for this deposit amount is ₹ 1,30,116 and the total interest earned is ₹ 30,116 for below 60 years age citizens. However, the interest earned for senior citizens is ₹ 33,365 which is higher. 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
2020 ₹ 1,771 ₹ 1,01,771 ₹ 1,938 ₹ 1,01,938
2021 ₹ 5,502 ₹ 1,07,273 ₹ 6,042 ₹ 1,07,980
2022 ₹ 5,799 ₹ 1,13,072 ₹ 6,400 ₹ 1,14,380
2023 ₹ 6,113 ₹ 1,19,185 ₹ 6,780 ₹ 1,21,160
2024 ₹ 6,443 ₹ 1,25,628 ₹ 7,182 ₹ 1,28,342
2025 ₹ 4,488 ₹ 1,30,116 ₹ 5,023 ₹ 1,33,365

Jammu And Kashmir Bank FD Calculator Formula

Along with 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

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 deposit.

How is Jammu And Kashmir Bank FD interest calculated?

The formula to calculate interest on Jammu And Kashmir Bank FD is
A = P(1+r/n)^nt
Here: A = Maturity amount
P = Invested amount
r = Interest rate as decimal
n = number of times interest is compunded
t = tenure of deposit
However, you can use online FD calculator to estimate the value of interest earned on the deposited amount.

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. Now to apply the rule, one needs the rate of interest we get on FD. Let’s say the interest offered on FD is 7.35%. Now applying the rule, just divide the number 72 by the rate of interest. So 72/7.35 = 9.80. 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.


JK Bank News - Sep 2020
  • 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.
  • 2018-12-14 : Jana Small Finance Bank raises Interest Rates on fixed deposits as well as Recurring Deposits
    One of the leading small finance banks, Jana Small Finance Bank has announced an increase in its interest rates on term deposits. Jana Small Finance Bank said in a statement. Upon revision, the deposit holders will earn interest up to 9.6% on their investment while on a fixed deposit of a maturity period or term of three years without a premature withdrawal facility, the interest rate will be 9.25%. The new interest rates will come into effect from December, 14 2018.
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