J and K Bank Personal Loan

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About J and K Bank Personal Loan

J and K Bank Personal Loan

J and K Bank Personal Loan is categorised under the unsecured loan. J and K Bank Personal Loan is a financial help taken by a borrower to finance his personal expenses like home renovation, going on a vacation, or even paying off your medical expences. These loans are given to the borrowers after he clears certain elegibility criteria.

You don’t have to mortgage any collateral in this type of loan. So, they are known as unsecured loans. The loan process is hassle-free as only minimal paperwork is required. J and K Bank Personal Loan is a short term loan with its term ranging from one year to five years. These loans are safer option than credit cards, and they also improve your credit rating.

J and K Bank Personal Loan at a Glance
Interest RateStarts at 11.15%
Lowest EMI per Lakh₹2182 for a tenure of 60 months
Tenure12 to 60 months
Processing Fee2%
Prepayment ChargesNIL

Why to Apply For J and K Bank Personal Loan?

  1. Lowest rate of interest
  2. Instant approval and disbursal of J and K Bank Personal Loan
  3. Hassle free documentation and convenient loan tenure
  4. Expert help 24/7
  5. No asset mortgaging required

Eligibility for J and K Bank Personal Loan

J and K Bank Personal Loan : Salaried Applicant

  1. The minimum age of the applicant should not be less than 21 years and maximum up to 60 years.
  2. If the borrower is residing in a metropolitan city, then they should have a minimum income of Rs 18,000. And if the person is from a non-metropolitan city, then they should have a minimum salary of Rs 12,000.
  3. The salary of the borrower should come in their bank account only.
  4. If a person is applying for the personal loan, then he must have a good credit history i.e. his CIBIL score must be above 700.
  5. The documentation process is easy; they have to submit their bank statement of the last three months and the salary slip of the last six months.

J and K Bank Personal Loan : Self-Employed Applicant

  1. If a person is self-employed then, the age of the applicant should be 25 years and maximum upto 65 years.
  2. The applicant should have been filing  ITR for the last three years.
  3. The credit score of the applicant should be good and no debt should be left due.
  4. The minimum ITR which the applicant files should be of Rs 2.5 lakhs per annum.
  5. And if the applicant has a business, then his business should be running for the last three years.

Click here to know more – Self-employed Applicant

Documents for J and K Bank Personal Loan

  1. ID proofs- PAN card/Aadhar card/Passport/Driving License/Employee ID.
  2. Address proof- PAN card/Aadhar card/Passport/Driving License/Bank passbook/Ration card/any Utility bill (telephone, electricity, water, gas) of last two months/Letter from a recognized public authority verifying the customer’s residence/LIC policy or receipt.
  3. PAN card of the applicant has to be submitted under KYC formality.
  4. Proof of ownership – Electricity or water bill/property papers/maintenance bill.
  5. Current job proof – Current employment certificate or appointment letter (in case of more than two years).
  6. Two passport sized colored photos.

List of Documents (Self-Employed)

  1. Proof of business-Sales deed or agreement copy of last 3 years/tax registration proof/Company registration license.

  2. Proof of Income- Income tax returns of the last 2 years along with computation of income duly attested by a CA(chartered accountant)/audited balance sheet and Profit & Loss accounts/tax audit report if applicable/Bank statement: Latest 1 year bank statement (both savings and current)/Investment proof: fixed deposit, fixed assets, shares, etc.
  3. The need for professional Degree Certificate (in the case of professionals)
  4. If any existing loan in the past- Need to submit sanction letter, payment track record.
  5. Two passport sized colored photos.

J and K Bank Personal Loan Interest Rates

The interest rates vary from person to person, as it depends upon the salary and CIBIL score of the applicant. The interest rates of a personal loan starts from 10.75% per year.

Click to know more about Interest Rates on Personal Loan

Loan Tenure

J&K bank offers you with a very flexible and convenient loan tenure. The tenure of the personal loan ranges from 1 year to 5 years. The borrower can choose any plan suitable to him.

How To Apply for J and K Bank Personal Loan ?

  1. Visit the website www.dialabank.com
  2. Then, go to the loan section and select the personal loan link.
  3. By clicking this link, you will be directed to all details of the personal loan.
  4. You will immediately recieve a call from our relationship manager, who will guide you further.

FAQs About J and K Bank Personal Loan

Q. What is J and K Bank Personal Loan?

J and K Bank’s Saholiat/Saral Finance Scheme is a Personal Loan scheme that a salaried person can avail to fulfill any of their personal needs. The bank requires you to be a permanent employee of a Central/State Government, Public Undertaking, or Autonomous Bodies and Institutions. You can avail of a maximum loan amount equal to your gross income of 36 months.

Q. How does J and K Bank Personal Loan work?

Personal Loan is an unsecured loan wherein you are not required to submit any collateral or prime security to avail of the loan. All you need are your basic KYC documents and income proofs and you can apply for a Saholiat/Saral Finance Scheme at any J and K Bank’s branch. Once approved and disbursed, the loan can be used to finance any of your personal needs and the repayment of the same can be done through EMIs.

Q. What is Personal Loan rate of interest in J and K Bank?

The rate of interest for Personal Loan in J and K Bank is currently 3% more than the applicable MCLR rate.

Q. What is the procedure of Personal Loan in J and K Bank?

Any salaried employee of Central/State Government, Public Undertaking, or Autonomous Bodies and Institutions can apply for J and K Bank’s Personal Loan scheme by visiting the nearest branch with required documents. After the verification process, the loan amount is disbursed to borrower’s bank account.

Q. How can I get J and K Bank Personal Loan?

Personal Loans are a solution to your everyday financial problems. You can get a Personal Loan from J and K Bank by visiting the nearest branch with your documents and submitting the same with an application form. The loan amount is disbursed once the documents and eligibility of the borrower are verified.

Q. How to apply for Personal Loan in J and K Bank?

Apply for Saholiat/Saral Finance Scheme by visiting the nearest J and K Bank branch with your documents. You can also apply online with Dialabank to get the best deals and offers from across different banks in India. We provide you with personalized assistance to make your loan process easy.

Q. Why apply for J and K Bank Personal Loan?

Personal Loan is a scheme that can be used to finance any monetary need that you may have. You do not need to submit any security with the bank and repayment of the loan can be done in easy monthly installments.

Q. How much EMI on J and K Bank Personal Loan?

Your J and K Bank Personal Loan EMI is based on your loan tenure, loan amount, and rate of interest. You can calculate it using Dialabank’s EMI calculator.

Q. How much CIBIL score required for J and K Bank Personal Loan?

If you have a CIBIL score greater than 750 you can breathe easily for you have great chances of getting your loan application approved. Most banks require you to have a CIBIL score greater than 700 and preferably above 750.

Q. Minimum credit score needed for J and K Bank Personal Loan?

Your credit score allows the bank to estimate the risk involved with lending you the money. A high credit score means you have been sincere in your past repayments and thus bank will most likely approve of your loan application. The minimum credit score required is 700 for a Personal Loan application.

Q. How to calculate J and K Bank Personal Loan EMI?

Use your loan amount, loan tenure, and rate of interest to calculate your J&K Bank’s Personal Loan EMI using Dialabank’s EMI Calculator.

Q. What can I use J and K Bank Personal Loan for?

You can use your Personal Loan for a number of financial reasons involving, a wedding, travel, medical bills, home renovation and repair, child’s education, and etc.

Q. How to prepay J and K Bank Personal Loan?

If you have the needed fund and wish to close your loan before the end of its tenure you can do so by visiting your loan branch and asking your loan officer for the same. You may be charged with a foreclosure fee.

Q. How to repay J and K Bank Personal Loan?

Personal Loans can be easily repaid through monthly installments. A calculated EMI is automatically deducted from your bank account every month.

Q. What documents are needed for J and K Bank Personal Loan?

KYC documents for address and identity verification, income proofs(Bank statements and Salary slips), and two passport-sized photographs are all that you need for a Personal Loan. Any additional document as asked by the bank shall also be submitted.

Q. How to check J and K Bank Personal Loan status?

You can know the status of your loan application either by visiting your loan branch or simply giving a call on their customer care number.

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