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Jammu & Kashmir Bank Zero Balance Savings Account, Features, Interest Rates

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Jammu & Kashmir Bank Offers Basic Savings Bank Deposit Account that includes No requirement of maintaining a minimum Balance, Debit Card issued free of charges, SMS, E-banking, and much more

Jammu & Kashmir Bank Basic Savings Bank Deposit Account.

Basic Savings Bank Deposit Account is to make basic banking facilities available to weaker sections and low-income groups at an affordable cost.

Features and Benefits of Jammu & Kashmir Bank Basic Savings Bank Deposit Account.

1- No need to maintain an average monthly balance.

You will be totally headache-free maintaining an average balance and any penalty shall be levied in accounts with ZERO balance.

2- You will get Free Debit Card issued.

3- You will get a Free e-banking/ SMS facility.

4- You gel facilities like RTGS/NEFT, inter –Branch transfers, collection of cheques, etc against normal service charges.

Basic-Savings-Bank-Deposit-Account-with-Jammu-&-Kashmir-Bank1
Basic-Savings-Bank-Deposit-Account-with-Jammu-&-Kashmir-Bank1

What Are The Eligibility Criteria for Jammu & Kashmir Bank Basic Savings Bank Deposit Account?

1- Any one of the following Indian individuals such as Unemployed Youth, Students, Housewives, Small Shopkeepers, Vendors, Artisans can apply.

Documents

1-Unemployed Youth, Students, Housewives, Small Shopkeepers, Vendors, Artisans, etc.

Documents  Requirements:

1-Account Opening Form duly filled in.

2-Latest passport size photographs (2) of the applicant.

3-Identity Proof Such as Copy of Passport/Voter ID/Driving License.

4- Proof of Address such as an Aadhaar Card.

How to open Jammu & Kashmir Bank Savings Bank Deposit Account?

If you want to open a bank account in J & K Bank. You need to visit your nearest Jammu & Kashmir Bank Branch.

There no option to apply online

Following steps, you need to follow.

Step-1

You have to collect all the documents as per the bank guidelines to avoid any hassle.

Step-2

After reaching the bank branch of your preference. You have to fill your form at the mentioned bank. All will be going to very easy because the staff of j&k bank is very supportive.

Or You can call on this toll-free number 18001800234 that can elaborate as per your particular inquiry.

Basic-Savings-Bank-Deposit-Account-with-Jammu-&-Kashmir-Bank
Basic-Savings-Bank-Deposit-Account-with-Jammu-&-Kashmir-Bank

Things to Remember in Jammu & Kashmir Bank Basic Savings Bank Deposit Account.

1- The account opening charge of Rs 50/-.

2- To avoid Anti-Money Laundering (AML) Bank issued from time to time Know Your Customer (KYC) guideline as per RBI.

3- You will get a free 20 Cheque every year at no additional cost. After that, you have to charges @ 3/- per leaf as applicable to other accounts.

4-The account shall not be offered Smart Cards.

5- If you have any type of account with a Bank you need need to close it within 30 days before going to apply.

FAQ

1-Jammu & Kashmir Bank Basic Savings Bank Deposit Account.

This is basically a Basic Savings Bank Deposit Account type for those who do not want to bear any kind of annual maintenance charge account.

In this Account, you can get the same Basic Banking Facilities as any other Bank.

2- Can I apply for Jammu & Kashmir Bank savings account online?

An eligible individual in a single name or jointly with others such as Unemployed Youth, Students, Housewives, Small Shopkeepers, Vendors, and much more.

3- What is the interest rate on Basic Savings Bank Deposit?

You will get up an interest rate of 4% per annum on your saving deposit account. It is compounded quarterly and is calculated on the end-of-day balance basis.

4- What is the minimum Average Quarterly Balance which one must maintain Basic Savings Bank Deposit Account with Jammu & Kashmir Bank?

You need not maintain an average monthly balance in your account.

5- Is there any opening charge the account holder needs to pay?

Yes. Rupees 50/-

Basic-Savings-Bank-Deposit-Account-with-Jammu-&-Kashmir-Bank
Basic-Savings-Bank-Deposit-Account-with-Jammu-&-Kashmir-Bank

About

Founded in 1938 under letters patent issued by the Maharaja of Jammu and Kashmir, it would not be wrong to say that Jammu and Kashmir Bank with its best of products and services meets the needs of all.

Be it traveling, home renovation, or buying a new home appliance, this bank caters to all your wishes and ensures to meet every wish of yours.

It functions as a universal bank in Jammu & Kashmir and as a specialized bank in the rest of the country.

It is also the only private sector bank(as per Wikipedia) that is designated as RBI’s agent for banking business, and executes the banking business of the Central Government, besides collecting central taxes for CBDT.

So, if you are someone who wants to apply for a personal loan in order to fulfill your varied needs of yours, a personal loan offered by Jammu and Kashmir is here to help you.

J&K Bank functions as a universal bank in the Union Territories of Jammu & Kashmir and Ladakh and as a specialized bank in the rest of the country.

It is also designated as RBI’s agent for banking business, and carries out the banking business of the Union Territories of Jammu & Kashmir and Ladakh, besides collecting central taxes for CBDT.

J&K Bank follows a two-legged business model whereby it seeks to increase lending in its home territory which results in higher margins despite modest volumes, and at the same time, seeks to capture niche lending opportunities on a pan-India basis to build volumes and improve margins.

J&K Bank operates on the principle of ‘socially empowering banking’ and seeks to deliver innovative financial solutions for household, small and medium enterprises.

The Bank, incorporated in 1938 and is listed on the NSE and the BSE.

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