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JK Bank Home Loan Interest Rates 2022

Jammu And Kashmir Bank Housing Loan Interest Rate -Today

Last Updated 10th May 2022

  • Current Jammu And Kashmir Bank Home Loan interest rates May 2022 starts at 7.20% p.a. for a maximum tenure of 30 years.
  • The processing fee on Jammu And Kashmir Bank housing loans is Upto 0.25%, Minimum ₹ 5,000 Maximum ₹ 25,000. Check Best Offers.
  • Use Jammu And Kashmir Bank home loan interest calculator to calculate EMI on lowest rates.
Interest Rate General 7.20% - 7.60%
Interest Rates for Women 7.20%
Benchmark rate RLLR
Processing Fees NIL
Part Payment/Foreclosure Charges Nil for floating rate home loans
Balance Transfer Rates 6.50%
Apply for Home Loan @ 6.50%* Get upto ₹ 1,000* Voucher

Jammu And Kashmir Bank Home Loan Interest

Jammu And Kashmir Bank offers home loans to both salaried individuals and self-employed at a minimum rate starting at 7.20%. Apart from the interest rate, the bank also has various other charges such as Jammu And Kashmir Bank processing fee and foreclosure and prepayment fee for closing or prepaying the loan before the loan tenure ends.

  • Current Jammu And Kashmir Bank Bank housing loan interest rates range between 7.20% to 7.60% for male borrowers.
  • Jammu And Kashmir Bank home loan interest for women borrowers is less than the general housing loan rates and starts at 7.20%.
  • Existing customers can get the lowest Jammu And Kashmir Bank bank home loan rate by negotiation with the bank.

Jammu And Kashmir Bank Housing Loan Processing Fee and Other Charges

Jammu And Kashmir Bank home loan processing charges are upto 0.25% of the loan amount from its home loan customers to cover its expenses of conducting credit appraisal and technical evaluation of property. Jammu And Kashmir Bank charges a minimum processing of ₹ 5,000 In addition to processing fees, the bank also charges certain technical and legal charges which are explained to the customer during the loan process and are payable once the loan application proceeds further.

Processing Fees Upto 0.25% of the loan amount; minimum processing fee of ₹ 5,000 to maximum fee of ₹ 25,000
Part Prepayment Charges Allowed
Foreclosure Charges Nil for floating rate home loans

Interest Rates on JK Bank Home Loans Schemes

Jammu And Kashmir Bank offers a housing loan interest rate of 7.20%. If you want to avail of the home loan at the lowest rates, you should have a good CIBIL score, debt-income ratio and repayment capacity. In addition, Jammu And Kashmir Bank home loan interest rates are lower for existing customers of the bank and individuals who are working with reputed corporations with a stable employment history.

Below-mentioned are Jammu And Kashmir Bank home loan rates for multiple housing schemes.

Jammu And Kashmir Bank Home Loan Scheme IR Salaried (Male) IR Salaried (Female) IR Self-employed (Male) IR Self-employed (Female)
Jammu And Kashmir Bank Home Loan Floating 7.20% 7.20% 7.20% 7.20%

JK Bank Home Loan Interest Rate for Salaried and Self-Employed

The home loan interest rates in JK Bank for salaried and self-employed is mentioned in the table below:

Home Loan Interest Rate for Salaried

Loan Amount Rate
Upto ₹ 25 Lakh 7.20%
₹ 25 Lakh - ₹ 1 Cr 7.20%
₹ 1 Cr - 3 Cr 7.20%
Above ₹ 3 Cr 7.20%

Housing Loan Interest Rate for Self-Employed

Loan Amount Rate
Upto ₹ 25 Lakh 7.20%
₹ 25 Lakh - ₹ 1 Cr 7.20%
₹ 1 Cr - 3 Cr 7.20%
Above ₹ 3 Cr 7.20%

JK Bank Bank Home Loan Interest Rate For Women & Govt Employee

Loan Amount JK Bank Home Loan Interest For Women JK Bank Home Loan Interest For Govt Employee
Upto ₹ 25 Lakh 7.20% 7.20%
₹ 25 Lakh - ₹ 1 Cr 7.20% 7.20%
₹ 1 Cr - 3 Cr 7.20% 7.20%
Above ₹ 3 Cr 7.20% 7.20%

JK Bank Home Loan Balance Transfer Interest Rates

Jammu And Kashmir Bank home loan balance transfer facility is ideal for existing home loan customers paying high interest to their existing lender. Through this facility, you can transfer your existing home loan to Jammu And Kashmir Bank at a lower interest rete without closing the account. However, you need to check the foreclosure charges that you have to pay to your existing lender if it is a fixed rate loan. Currently, Jammu And Kashmir Bank offers the loan balance transfer rate of 6.50%.

Illustration on Home Loan Interest Rate Jammu And Kashmir Bank
Maximum Annual Percentage Rate (APR) 7.22% to 7.62%
Representative example of the total cost of the loan, including all applicable fees
Here is an illustration of the total cost of the loan:
  • Total amount borrowed: ₹ 1,00,000
  • Time period: 5 Years to 15 Years
  • Jammu And Kashmir Bank Home Loan Interest Rate: 7.20% to 7.60%
  • Processing Fee payable to: Upto ₹ 250
  • Fee payable to MyLoanCare: NIL
  • Total Monthly Cost – From ₹ 910 for 15 Years ₹ 1,00,000 loan at 7.20% (lowest rate, longest time period) to ₹ 2,009 for 5 Years ₹ 1,00,000 loan at 7.60% (highest rate, shortest time period). This is inclusive of principal repayment.
  • Annual Percentage Rate (APR) of charge including all applicable fees: 7.22% to 7.62%
  • Total cost payable over loan tenure: ₹ 1,19,624 for 5 Years loan to ₹ 1,64,059 for 15 Years loan

JK Bank Home Loan Rate Trends (Historical)

Jammu And Kashmir Bank, which is one of the leading HFC in the country offers the lowest home loan rate starting at 7.20%. There has been no change in the lowest interest rate of Jammu And Kashmir Bank home loan interest rate for a long time and the interest rate continues to be in the range of 7.20% to 7.95%.

FAQs

Is Jammu And Kashmir Bank home loan a floating rate loan or a fixed-rate loan?

Jammu And Kashmir Bank offers home loans at both fixed and floating rates. In the case of the fixed rate, the interest remains the same throughout the tenure. On the other hand, the home loan rates vary as per the market fluctuations for floating home loan rates.

What is the Jammu And Kashmir Bank home loan interest rate for existing customers?

Existing customers of Jammu And Kashmir Bank who have any other loan accounts or investment accounts in Jammu And Kashmir Bank can get a discounted rate than the general Jammu And Kashmir Bank bank home loan interest rate. The current Jammu And Kashmir Bank home finance rate of interest is 7.20%.

What is the Jammu And Kashmir Bank home loan rate today?

Jammu And Kashmir Bank offers home loan interest rate today is in the range of 7.20% to 7.60%. The bank does not charge any processing fees on the home loan amount. You can get the lowest Jammu And Kashmir Bank interest rate if you have a good CIBIL and existing relationship with the bank.

Why should I opt for balance transfer to Jammu And Kashmir Bank?

Jammu And Kashmir Bank offers the lowest balance transfer rates on housing loans. At the lowest rates, your housing loan EMI will be ₹ 679. If you are paying an EMI of more than ₹ 679, you should transfer your outstanding loan from the existing bank to Jammu And Kashmir Bank. Apart from the discounted rates, you can also avail of flexible loan tenure, top-up loans and other benefits.

Can Jammu And Kashmir Bank housing loan interest rate be negotiated?

Yes, if you have a good relationship with the bank and a high credit score, you can negotiate with JK Bank to lower the JK Bank interest rates. Apart from the home loan rates, you can also negotiate over the processing fee.

Does JK Bank offer a concessional home loan interest rate for women?

Yes, JK Bank offers special home loan interest rates for women. As against JK Bank home loan rates for male which is 7.20%, the home loan interest rate for women starts at %.

At what interest rate does an JK Bank employee get a home loan?

JK Bank offers concessional home loan rates of about 1% than the current home loan rates to JK Bank employees.


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JK Bank Home Loan News - May 2022
  • 2021-02-19 : Jammu and Kashmir revised its MCLR
    Jammu and Kashmir changed its MCLR. The overnight, one month and three months rate stands at 6.60%, 6.70% and 6.90%, respectively. The rate for 6 months is 7.20%. Further, the revised rates for one year, two years and three years is 7.35%, 7.80% and 7.85%, respectively. The revised rates are effective from february 10, 2021. The revised rates will impact MCLR linked home loans.
  • 2019-03-14 : Jammu and Kashmir Bank launches Customer- Connect Initiative
    Jammu and Kashmir bank has announced the launch of its customer connect initiative. Under this newly launched initiative, the bank aims to further improve its banking as well as customer services in the near future by addressing the requirements of the customers. In addition to this, the bank also plans to expand its number of bank branches worldwide as well to achieve a significant growth across its retail loans including home loans and personal loans.
  • 2018-05-23 : Jammu and Kashmir Bank revises MCLR
    J&K Bank has hiked its MCLR for the month of May. The rates stand in the range of 7.90% and 9.30%. Six month MCLR is now at 8.65% and that of one year is 8.80%. The new rates are effective from May 10th.
  • 2018-05-15 : J&K Bank reduces loan rates for women borrowers
    Jammu and Kashmir Bank has reduced its interest rates on loans for women borrowers in housing loan segment. The bank has reduced the rate of interest by 10 to 40 basis points in the non priority segment for women borrowers. Interest for two-wheeler loans, loan against mortgage of property and computer loans have been reduced by 50 basis points while in education loan, it has been cut by 75 basis points.
*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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