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Jammu and Kashmir Bank Loans
Jammu and Kashmir Bank is one of the leading banks in Northern India. The bank offers a host of deposits, insurance and loan products to satisfy various needs of the customers. Jammu and Kashmir Bank loans have been exclusively designed to suit the financing needs of different types of customers.
About Jammu and Kashmir Bank Loans
All the loan products of Jammu and Kashmir Bank are available with excellent repayment terms and conditions. Interest rates on Jammu and Kashmir Bank loans are truly attractive and devised to fit the budgets of the borrowers. You can use a loan from Jammu and Kashmir Bank to finance a home purchase, higher education of your children, a car purchase and various other purposes. Currently, the innovative range of loans and credit products offered by Jammu and Kashmir Bank can be categorized into the following:
1) Home finance
You can use a home loan from Jammu and Kashmir Bank for various purposes such as construction, purchase or renovation or for purchase of land. The bank also offers a bonus to the borrowers who go for smaller loan amounts as their loans can be backed by third party guarantee. The maximum period of repayment is 20 years.
2) Educational finance
Educational loans offered by Jammu and Kashmir Bank are available for both students in India and students studying abroad.
Amount of loan
The maximum amount of loan available for students in India is Rs.10 lakhs and the maximum quantum of loan available for students abroad is Rs.20 lakhs.
Eligibility criteria for educational loans from Jammu and Kashmir Bank
Given below are the eligibility criteria for Jammu and Kashmir Bank educational loans:
- The applicant should be an Indian National.
- The applicant should have got admission to educational institutions/universities in other countries.
- The applicant should have got admission to technical/professional academic programs via selection procedures/admission test.
- The applicant should have qualified the entrance test for admission to the educational programs.
- Working individuals planning to better their academic qualifications and/or get training in forward looking know-hows in India or overseas can also be helped by this loan program given that training provides potentials of better jobs.
Types of education loans offered by Jammu and Kashmir Bank
Educational loans offered by Jammu and Kashmir Bank can be broadly categorized into the following types:
- Education loan scheme
- Budshah Primary Education Finance
- Term Loan for B.Ed/M.Ed Courses
3) Automobile finance
Jammu and Kashmir Bank also offers financing schemes for automobile purchases. Through these loans, you can finance purchase of new cars, old/used cars, commercial vehicles, school buses, mini buses, passenger buses and two wheelers. Listed below are the different types of automobile finance schemes offered by Jammu and Kashmir Bank:
- Car Loan Scheme
- Commercial Vehicle Finance
- Car Loan for Used Cars
- School Bus Finance
- Commercial Vehicle Finance (For Used Vehicles)
- Mini-bus/passenger bus finance (For Bhaderwah, Doda and Kishtwar)
- Old/mini-buses and passenger buses finance schemes (For Bhaderwah, Doda and Kishtwar only)
- Two-Wheeler Finance
4) Specialized finance
Jammu and Kashmir Bank has also introduced some specialized finance schemes for tourism industry, agribusiness, craft development, commercial premises, PC/laptop computers, sheep rearing, contractors and technology upgradation. Given below are the different specialized finance schemes offered by Jammu and Kashmir Bank:
- All Purpose AgriTerm Loan
- Help Tourism (Only for Kashmir valley)
- Zafran Finance
- Fruit Advances Scheme (for Apple)
- Craft Development Finance
- Roshni Financing Scheme
- Giri Finance Scheme
- Dastkar Finance
- Commercial Premises Finance
- Khatamband Craftsmen Finance
- Establishment of Mini Sheep Farms in Private Sector
- PC/Laptop Finance
- Technology Upgradation Scheme for MSE (Micro and Small Enterprises) sector
- Contractor Finance
5) Other financing schemes
Jammu and Kashmir Bank has also launched some other finance schemes to serve the needs of consumers, pension holders, trade and service industries, travel agencies and taxi operators. Listed below are those financing schemes from Jammu and Kashmir Bank:
- SAHOLIAT/SARAL Finance
- Consumer Loans
- Mortgage Loans for Trade and Service Sector
- Personal Loan to Pensioners
- Fair Price Shop Scheme
- Loans against Mortgage of Immovable Properties
- Travel and Tourist Taxi Operators