Fixed Deposit or FD is a good interest rate investment option. J&K Bank offers a Fixed Deposit Account with a high interest rate. Fixed Deposit can open for the duration of a minimum of 7 days and a maximum of ten years. Fixed Deposit gives you a high-interest rate on your deposit amount. The Deposit minimum amount is depending upon the bank.
Benefits of J&K Bank Fixed Deposit
- You get a higher interest rate on your fixed Deposit while comparing with saving accounts.
- Multiple fixed deposits can open.
- J&K Bank also gives a loan on your fixed Deposit so that, you don’t need to break your Deposit for your need.
- You can get an Rs.1.5 lakh exemption under Section 80 C of the Income Tax Act, 1961.
- If you are a senior citizen, then you will get a high-interest rate on your Fixed Deposit account.
Fixed Deposit Eligibility
- Fixed Deposits can open the name of Individual, Joint, Society, Company, Partnership, etc.
- The applicant must have a savings account in the bank.
Income Tax Facts on J&K Bank Fixed Deposit Interest
If you are looking for income tax fact on Fixed Deposit interest, then you can check below:
- If Fixed Deposit interest is less then Rs. 40, 000/-, then the J&K Bank will deduct TDS on interest.
- Interest earned on Fixed Deposit is taxable. It will treat as Income from Other Sources.
- If you don’t want to pay any TDS on Fixed Deposit, then you have to submit Form 15G and Form 15H in J&K Bank.
J&K Bank Tax Benefit Fixed Deposit
- Interest Rate is 6.5% for 5 years term deposits.
- The amount can not withdraw before five years.
- The deposit account can not transfer to another bank.
J&K Bank Fixed Deposit Interest Rate
Maturity Period | Deposit Type | Current Interest Rates per Annum | Revised Interest Rates per Annum |
7 days to 30 days | Domestic/NRO | 4.50% | 4.50% |
31 days to 45 days | Domestic/NRO | 5.00% | 5.00% |
46 days to 90 days | Domestic/NRO | 5.50% | 5.50% |
91 days to 180 days | Domestic/NRO | 5.50% | 5.50% |
181 days to 270 days | Domestic/NRO | 5.75% | 5.75% |
271 days to less than 1 Year | Domestic/NRO | 6.00% | 6.00% |
1 year to less than 2 years | Domestic/NRO/NRE | 6.30% | 6.25% |
2 years to less than 3 years | Domestic/NRO/NRE | 6.35% | 6.30% |
3 years to less than 5 years | Domestic/NRO/NRE | 6.35% | 6.25% |
5 years to less than 10 years | Domestic/NRO/NRE | 6.00% | 6.00% |
The Interest rates applicable for Withdrawable Term Deposit
Maturity Period | Deposit Type | Current Interest Rates per Annum | Revised Interest Rates per Annum |
7 days to 30 days | Domestic/NRO | 4.50% | 4.50% |
31 days to 45 days | Domestic/NRO | 4.50% | 4.50% |
46 days to 90 days | Domestic/NRO | 4.75% | 4.75% |
91 days to 180 days | Domestic/NRO | 5.05% | 5.05% |
181 days to 270 days | Domestic/NRO | 5.50% | 5.50% |
271 days to less than 1 Year | Domestic/NRO | 6.00% | 5.75% |
1 year to less than 2 years | Domestic/NRO/NRE | 6.05% | 6.00% |
2 years to less than 3 years | Domestic/NRO/NRE | 6.10% | 6.05% |
3 years to less than 5 years | Domestic/NRO/NRE | 6.10% | 6.00% |
5 years to less than 10 years | Domestic/NRO/NRE | 6.00% | 6.00% |
The Interest rates applicable for Non-Withdrawable Term Deposits
Maturity Period |
Deposit Type |
Revised Interest Rates per Annum (Non-Withdrawable) | |
For Rs 2.00 Crs to Rs 2.50 Crs |
Above Rs 2.50 Crs to Less than Rs 5.00 Crs |
||
91 days to 180 days | Domestic/NRO | 5.15% | 5.15% |
181 days to 270 days | Domestic/NRO | 5.60% | 5.60% |
271 days to less than 1 year | Domestic/NRO | 5.85% | 5.85% |
1 year to less than 2 years | Domestic/NRO/NRE | 6.10% | 6.10% |
2 year to less than 3 years | Domestic/NRO/NRE | 6.15% | 6.15% |