This Private Sector Bank Revises Interest Rate On Fixed Deposits of Less Than Rs. 2 Cr

Jammu & Kashmir Bank, a private sector lender, has adjusted its interest rates on fixed deposits of less than Rs. 2 crores. The new rates will take effect on January 11, 2022, according to the bank's official website. With effect from January 11, 2022, we would witness the new and following interest rates on Domestic Term Deposits of less than Rs. 2.00 Cr.

Jammu & Kashmir Bank Domestic Fixed Deposit Interest Rates

W.e.f. 11th January 2022, the bank would promise an interest rate of 2.90% to 5.30% to the general public. The bank has made interest rate revisions on deposits maturing in 7 days to 30 days and 31 days to 45 days. On these deposits, earlier the bank was offering an interest rate of 3.00% and 3.10%, but following the interest rate revision made by the bank, the new interest rate would be 2.90% and 3.00% respectively. On the other hand, senior citizens over 60 years of age shall continue to earn a 0.50 % additional rate across all tenors on their domestic term deposits.

Tenor	Deposit Type	Current interest rates per annum	Revised Interest Rates per Annum w.e.f January 11, 2022
7 days to 30 days	Domestic/NRO	3.00%	2.90%
31 days to 45 days	Domestic/NRO	3.10%	3.00%
46 days to 90 days	Domestic/NRO	3.25%	3.25%
91 days to 180 days	Domestic/NRO	4.00%	4.00%
181 days to 270 days	Domestic/NRO	4.40%	4.40%
271 days to less than 1 Year	Domestic/NRO	4.50%	4.50%
1 year to less than 2 years	Domestic/NRO/NRE	5.10%	5.10%
2 years to less than 3 years	Domestic/NRO/NRE	5.20%	5.20%
3 years to less than 5 years	Domestic/NRO/NRE	5.30%	5.30%
5 years to less than 10 years	Domestic/NRO/NRE	5.30%	5.30%
Source: Bank Website. W.e.f January 11, 2022

Jammu & Kashmir Bank Interest Rates On Withdrawable Term Deposits

For deposit amount of Rs. 2.00 Crore to less than 5.00 Crore, the rates indicated below are applicable for prematurely withdrawable fresh term deposits and renewals of maturing term deposits. Senior Citizens over 60 years of age will continue to receive an additional 0.50 percent interest rate across all tenors on these deposits.

Tenor	Deposit Type	Current interest rates per annum	Revised Interest Rates per Annum w.e.f January 11, 2022
7 days to 30 days	Domestic/NRO	2.90%	2.90%
31 days to 45 days	Domestic/NRO	3.00%	3.00%
46 days to 90 days	Domestic/NRO	3.10%	3.00%
91 days to 180 days	Domestic/NRO	3.25%	3.00%
181 days to 270 days	Domestic/NRO	3.25%	3.25%
271 days to less than 1 Year	Domestic/NRO	3.50%	3.50%
1 year to less than 2 years	Domestic/NRO/NRE	3.75%	3.75%
2 years to less than 3 years	Domestic/NRO/NRE	4.00%	4.00%
3 years to less than 5 years	Domestic/NRO/NRE	4.00%	4.00%
5 years to less than 10 years	Domestic/NRO/NRE	4.00%	4.00%
Source: Bank Website. W.e.f January 11, 2022

Jammu & Kashmir Bank Interest Rates On Non-Withdrawable Term Deposits

The bank has also revised its interest rates on fixed deposits without premature withdrawal options. The revised rates on non-withdrawable fixed deposits are listed below.

Tenor	Deposit Type	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	3.10%	3.10%
181 days to 270 days	Domestic/NRO	3.35%	3.35%
271 days to less than 1 year	Domestic/NRO	3.60%	3.60%
1 year to less than 2 years	Domestic/NRO/NRE	3.85%	3.85%
2 year to less than 3 years	Domestic/NRO/NRE	4.10%	4.10%
Source: Bank Website. W.e.f January 11, 2022