Tag Archives: j&k bank housing loan scheme

Jammu Kashmir Bank (J&K) Home Loan, Interest Rate and EMI Calculator November 2017

(Updated on 01.11.17) Jammu & Kashmir Bank Home Loan EMI Calculator November 2017Get Instant Quick & Easy Approval on J&K Home Loan. Loansninsurances.com provide a simple tool to calculate your Home Loan EMI on the basis of ✓Interest Rate✓Loan Tenure✓Processing Fee ✓Eligibility✓Best Offers & more.

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Jammu and Kashmir Bank Home Loan

Jammu & Kashmir Bank is a Srinagar based bank, popularly known for its enticing home loan and diverse customized home loan features. J&K Home Loan can be availed to purchase/build/expand/renovate your dream house/flat & other related purposes at the most cost-effective rate of interest with no pre-payment charges and at low processing fee. Check out your Home Loan Eligibility for the best home loan with J&K Home Loan Eligibility Calculator and choose your preferred home loan without any hassle.

Also, be a part of Jammu and Kashmir Personal Loan to meet all your expenses in any financial crisis at the most attractive rates of interest.

Jammu and Kashmir Bank Home Loan

Housing Loans
Upto Rs 100.00 Lacs Applicable 1 yrs MCLR Floating
Above Rs 100.00 Lacs and Upto Rs 300.00 Lacs Applicable 1 yrs MCLR+0.20% Floating
Above Rs 300.00 Lacs Applicable 1 yrs MCLR+0.35% Floating

Jammu Kashmir Bank Home Loan EMI Calculator

Jammu & Kashmir Bank Home Loan EMI Calculator

Fill Loan Amount, Interest rate & Tenure in Fields & get Instant Calculation for Home loan emi within seconds.
Loan Amount
Interest Rate (Reducing) % Per Annum
Loan Tenure (in Months)
 
Monthly EMI
Total Amount with Interest
Flat Interest Rate PA
Flat Interest Rate PM
Total Interest Amount
Yearly Interest Amount

Jammu Kashmir Bank Home Loan Features

  • Loan is available for wide range of home loan requirements such as construction or purchase of residential home or flats, for purchase of a plot only, for repairs & renovation of houses/flats already constructed with own resources or with housing loan whether liquidated or outstanding and for other purposes.

  • Maximum Loan amount is Rs. 25 lakhs for carrying out repairs / renovations / additions / alterations, for carrying out repairs / renovations to the house / flat.

  • No Pre-payment penalty to be charged on housing loans

  • No collateral security /3rd party guarantee is required in all cases except in case of Pensioners- guarantee of spouse / Legal Heir(s), who is / are entitled for family pension, is to be obtained & for NRIs- 3rd party guarantee of two resident Indians of sufficient means to cover the liability.

  • Loans upto Rs.2.50 lacs (Rs.5.00 lacs in case of employees of J & K State Govt) can be availed for the purpose of repairs/ additions/alterations /extension of existing houses, where the mortgage of the house property is not taken as security.

Jammu And Kashmir Bank Home Loan Eligibility

  • Permanent Employees of State / Central Government, Government / Semi-Government Undertakings & Autonomous Bodies.

  • Employees of Reputed Companies with a minimum of 3 years of service

  • Professionals, Self Employed Individuals / Businessmen with a minimum 3 years standing in the current profession.

  • Persons engaged in agricultural and allied activities.

  • Retired Employees of State / Central Government, Public Sector Undertaking.

  • Non-Resident Indians are also eligible for financing under the scheme.

  • In Case of repairs/renovation/alteration/additions to an ancestral property in the name of either father or mother, who is dependent on son / daughter, loan can be granted to the parent(s) by making the son / daughter as co borrower and his /her income can be taken for computation of quantum of loan. amount of housing loan.

  • Minimum age should be of 18 years for loan sanction

  • Maximum age is 70 years by which the loan should be fully repaid.

  • Actual loan amount will be determined taking into consideration the applicant’s income and repaying capacity, age, assets and liabilities, cost of the proposed house/flat, etc.

Jammu and Kashmir Bank Home Loan Documents Required
  • Signed application form with passport size photo.

  • ID and residence proof.

  • Processing fee Cheque.

  • Latest bank statements.

  • Documentation for salaried applicants:

    • Last 3 years Income Tax Returns with computation of Income.

    • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account.

  • Documentation for self-employed applicants:

    • latest income tax returns.

    • latest computation of income.

Jammu and Kashmir Home Loan PrepaymentsNo Pre-payment penalty will be charged on housing loans granted on floating rate of interest.

Jammu and Kashmir Home Loan MCLR November 2017

Loan Tenure MCLR
Overnight 7.65%
1 Months 7.90%
3 Months 8.05%
6 months 8.40%
1 Year 8.80%
2 Years 9.00%
3 Years 9.05%

Jammu And Kashmir Home Loan Margin November 2017

For Construction/Purchase

Loan Amount Margin
Loan up to 30 Lakh 10%
Loan above Rs. 30 Lakh to Rs. 75 Lakh 20%
Loan above Rs. 75 Lakh 25%

For Supplementary/ repairs/renovation/additions/alterations

Loan Amount Margin
For Loans up to Rs. 5.00 Lakh NIL
For Loans above Rs. 5.00 Lakh to Rs. 10.00 Lakh 10%
For Loans above 10.00 lakh 15%