J & K Bank Home Loan – Compare Documents, Eligibility, Interest Rates of Home loans with Jammu and kashmir Bank Online. Apply for loans with J & K bank.
Quantum of loan –
- For Construction /Purchase 60 months net salary or 75.00 Lacs whichever is lower.
- For repairs/renovation 20 months net salary, subject to a maximum of 10.00 Lacs.
- For purchase of land: 20 months net salary/income subject to maximum of 5 Lacs within J&K and 10.00 Lacs outside J&K.
Home Loan applications received for rupees ₹ 419,027 crores till 02 December 2020
Also as an incentive for small borrowers, the home loans upto 1.5 Lacs granted for repairs/renovations of existing houses would now be secured by third party guarantee of two persons or such other security as is deemed appropriate by the Bank.
J & K Bank Home Loan Interest Rates
|Loan Amount||Interest rate|
|Upto Rs. 25.00 lacs||8.45% – 8.75%|
|Above Rs. 25.00 lacs and upto Rs.75.00 lacs||8.45% – 8.75%|
|Above Rs. 75.00 lacs||8.45% – 8.75%|
Eligibility for J & K Bank Home Loan
- Employees of Govt. , Semi-Govt. Dept., Civic Bodies, PSU’s with minimum 5 years service.
- Reputed Businessmen with minimum 5 years standing.
- Professionals & Self employed like Doctors ,Engineers , CA’s , Advocates with minimum 5 years standing
Repayment options on J & K Bank Home Loan –
- For construction of new house 20 years including 9 months moratorium in equal monthly installments.(Applicable to new loans and disbursements only)
- For addition / Renovation 10 years Including 2 months moratorium in equal monthly Installments.
- 15% for construction/purchase of built house flat.
20% for renovation/purchase of land.
Processing charges – 0.25% of loan amount