What is the Home Loan Interest Rate of J&K Bank?

J&K Bank home loan interest rate actually depends on several factors. Whether you’re a salaried employee or a non-salaried employee, your CIBIL score, and so on. The rate of interest will also depend on whether you’re a JK bank account holder. I have an account with JK Bank, and when I applied for a home loan, I had researched about the interest rates. Typically, it ranges from 8.75% p.a to 9.85% p.a. 

What is the J&K Bank Housing Loan Interest Rate?

I took a loan of Rs. 30 Lakhs, so let me share with you the varied housing loan interest rate J&K bank for salaried and non-salaried employees, differing with the credit scores. 

In this table, the JK Bank section includes employees of J&K Government, J&K police, administration of UT of Ladakh, and various other government departments or institutions with whom J&K Bank has entered into Memorandum of Understandings.

What are the J&K Bank Home Loan Processing Charges?

The processing fee is up to 0.25% of the total loan amount plus applicable GST. Besides, you also have to pay a transportation charge of Rs. 500 plus GST.

I hope this gives you some idea on the

home loan interest rate J&K Bank.

I have an account in J&K Bank and I have finally decided to buy a house. I was enquiring about the JK bank home loan interest rates and gathered a lot of information related to home loan eligibility conditions. I will be glad to share what I learned about it in this answer.

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What is the JK bank housing loan interest rate?

In Jammu and Kashmir the loan interest rate starts from 7.30% per annum for the non-priority sector and 7.20% per annum for the priority sector. There is also a processing fee levied. It is about 0.25% of the loan amount plus GST. Also, note that the repayment tenure is 30 years for salaried persons and 20 years for other applicants. This should be enough to make you understand what is the home loan interest rate of J&K Bank.

The documents that you will be required to submit to apply for a home loan in J&K are-

• Application form

• Identity proof

• Address proof

• Income proof

• Property documents

• Photographs and more

Here are some rules that need to be followed for applying for a home loan in J&K bank-

• The applicant must be between 18 years to 70 years

• Salaried/self-employed/businessman with 3 years of experience in their current profession is eligible to apply for the loan

• Employees from state/central/semi-government undertakings/autonomous bodies.

• Retired employees of state/central government/PSU can also apply for it

• Individuals engaged in agricultural or other related activities are also eligible to apply for a loan here

I hope this answers what is the JK bank home loan interest rate, eligibility, and other aspects related to it.