Jammu & Kashmir Bank Flexi Deposit
The Jammu & Kashmir Bank Flexi Deposit is a fixed deposit that comes with a flexible credit facility, letting you draw funds against your deposit instead of breaking it. It is open to individuals, joint holders, minors and businesses, with interest paid at maturity and premature withdrawal allowed on payment of a penalty.
Feature | Details |
Deposit Amount | Contact the bank |
Tenure | Contact the bank |
Interest payouts | Interest will be paid on maturity |
Premature withdrawal | Allowed (with penalty) |
Eligibility of Jammu & Kashmir Bank Flexi Deposit
- An individual
- More than one person in joint names.
- A minor through a parent or a guardian.
- Sole Proprietorship concerns
- Partnership firms
- Private and Public Limited Companies
- HUFs
- Associations
- Clubs
- Societies
- Trusts
Premature withdrawal of a Jammu & Kashmir Bank Flexi Deposit is guided by the bank's Comprehensive Deposit Policy, under which interest on premature withdrawal is generally paid below the rate applicable for the period the deposit actually remained with the bank, subject to a minimum holding period.
Documents Required to Apply for the Jammu & Kashmir Bank Flexi Deposit
- Application Form
- Photograph of depositor/s (2 copies)
- Documents as per KYC Norms
- PAN Card or Form 60 or 61
- Any other related documents as applicable to Minors, Partnership Firms, Companies, HUF's etc
Interest Rates on Term Deposits of less than Rs.3 Crore
Tenure | Interest Rates for General Public (p.a.) | Interest Rates for Senior Citizens (p.a.) |
7 to 30 days | 3.50% | 4.00% |
31 to 45 days | 3.75% | 4.25% |
46 to 90 days | 5.00% | 5.50% |
91 to 180 days | 5.50% | 6.00% |
181 to 270 days | 5.90% | 6.40% |
271 days to less than 1 year | 6.00% | 6.50% |
1 year to less than 18 months | 6.55% | 7.05% |
18 months to less than 2 years | 6.65% | 7.15% |
2 years to 887 days | 6.75% | 7.25% |
888 days | 7.05% | 7.55% |
889 days to less than 3 years | 6.75% | 7.25% |
3 years to less than 5 years | 6.70% | 7.20% |
5 years to less than 10 years | 6.75% | 7.25% |
Note: The interest rates are effective from 11 September 2026.
Super senior citizens aged 80 years and above earn an additional 0.25% over and above the rate offered to senior citizens on the Jammu & Kashmir Bank Flexi Deposit.
Interest Rates for Withdrawable Term Deposits: Rs.3 Crore to less than Rs.5 Crore
Maturity Period | Interest Rates for General Public (p.a.) |
7 days to 30 days | 4.75% |
31 days to 45 days | 5.25% |
46 days to 90 days | 5.75% |
91 days to 180 days | 6.00% |
181 days to 270 days | 6.10% |
271 days to less than 1 Year | 6.25% |
1 Year to less than 2 years | 6.75% |
2 years to 887 days | 6.65% |
888 days | 7.10% |
889 days to less than 3 years | 6.65% |
3 years to less than 5 years | 6.75% |
5 years to less than 10 years | 6.80% |
Note: The interest rates are effective from 11 September 2026.
Interest Rates for Non-Withdrawable Term Deposits: Rs.3 Crore to less than Rs.5 Crore
Tenure | Interest Rates for Rs.3.00 Crore to less than Rs.5.00 Crore (p.a.) |
91 days to 180 days | 6.10% |
181 days to 270 days | 6.20% |
271 days to less than 1 year | 6.35% |
1 year to less than 2 years | 6.85% |
2 years to 887 days | 6.75% |
888 days | 7.20% |
889 days to less than 3 years | 6.75% |
Note: The interest rates are effective from 11 September 2026.
TDS is deducted at the prevailing rate on interest earned under the Jammu & Kashmir Bank Flexi Deposit unless you submit Form 15G or Form 15H, where applicable.
Summary
The Jammu & Kashmir Bank Flexi Deposit combines the security of a fixed deposit with a flexible credit facility that lets you draw funds without breaking it. It is open to individuals, joint holders, minors and businesses, with interest paid at maturity and premature withdrawal allowed on payment of a penalty. Check the current interest rates above and visit your nearest Jammu & Kashmir Bank branch or its official website to open a Flexi Deposit account.
FAQs on Jammu & Kashmir Bank Flexi Deposit
1.What is the Jammu & Kashmir Bank Flexi Deposit?
The Jammu & Kashmir Bank Flexi Deposit is a fixed deposit that comes with an attached flexible credit facility, letting you draw funds against your deposit without closing it. It combines the safety of a fixed deposit with easier access to your money.
2.What tenures are available for the Jammu & Kashmir Bank Flexi Deposit?
The Jammu & Kashmir Bank Flexi Deposit can be opened for tenures ranging from 6 months to 10 years. You choose the tenure that suits your savings goal when you open the account.
3.Is there a value addition offered under the Jammu & Kashmir Bank Flexi Deposit?
Yes, the Jammu & Kashmir Bank Flexi Deposit offers a flexible credit facility that allows multiple credits and withdrawals against the deposit. This means you do not need to break the deposit to access funds.
4.How is interest paid on the Jammu & Kashmir Bank Flexi Deposit?
Interest on the Jammu & Kashmir Bank Flexi Deposit is paid on maturity rather than at periodic intervals. The deposit amount and accumulated interest become payable together at the end of the tenure.
5.Am I allowed to withdraw my Jammu & Kashmir Bank Flexi Deposit prematurely?
Yes, the Jammu & Kashmir Bank Flexi Deposit allows premature withdrawal, but an interest penalty applies as per the bank's deposit policy. It is worth checking the applicable penalty before you withdraw early.
6.Who is eligible to open a Jammu & Kashmir Bank Flexi Deposit?
An individual, joint holders, a minor through a parent or guardian, and entities such as sole proprietorships, partnership firms, companies, HUFs, associations, clubs, societies and trusts can open a Jammu & Kashmir Bank Flexi Deposit.
7. What documents are required to open a Jammu & Kashmir Bank Flexi Deposit?
You need a filled application form, two photographs of the depositor(s), KYC documents, and a PAN card or Form 60/61 to open a Jammu & Kashmir Bank Flexi Deposit. Entities such as minors, partnership firms, companies and HUFs may need to submit additional supporting documents.
8. Is the interest on the Jammu & Kashmir Bank Flexi Deposit simple or compound?
The interest on the Jammu & Kashmir Bank Flexi Deposit is compounded quarterly. This means the interest calculated each quarter is added back to the principal for the next quarter's calculation.
9.Do senior citizens earn additional interest on the Jammu & Kashmir Bank Flexi Deposit?
Yes, senior citizens earn additional interest over the general public rate on the Jammu & Kashmir Bank Flexi Deposit, and super senior citizens aged 80 and above earn a further increment over the senior citizen rate. The exact rates are listed in the interest rate tables above.
10. Is TDS applicable on the Jammu & Kashmir Bank Flexi Deposit?
Yes, TDS is deducted at the prevailing rate on interest earned under the Jammu & Kashmir Bank Flexi Deposit. You can avoid this deduction by submitting Form 15G or Form 15H where you are eligible to do so.
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