Jammu and Kashmir Bank Plot Loan

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Jammu and Kashmir Bank Plot Loan Features

The Interest Rate 7.70%
Time Period 15 years
Loan to Value Up to 70%
Processing Fees Up to 0.25% of the loan amount, Min. Rs 500

Eligibility Criteria for Jammu and Kashmir Bank Plot Loan

  • Must be Indian or NRI.
  • Age should be from 18 to 70 years.
  • Salaried/self-employed with at least 3 years of experience in their current profession.

Benefits of Jammu and Kashmir Bank Plot Loan

Jammu and Kashmir Plot Loan

  • No requirement for pre-closure fees.
  • Quick processing for applications.
  • Long tenure.
  • Good LTV ratio.

Plot Loan

Banks like Jammu and Kashmir Bank try to offer plot loans to both salaried as well as the self-employed category of people residing in India or an NRI can take Jammu and Kashmir plot loan to buy a plot anywhere in India of their liking.

1. Tenure

Jammu and Kashmir Bank plot loan tenure is of 15 years.

2. Prepayment Fine

No prepayment fees are charged by Jammu and Kashmir Bank for single borrowers.

3. Loan to Value Ratio‭ (‬LTV‭)‬

Up to 70%, LTV is provided by Jammu and Kashmir Bank plot loan.

4. Tax Benefits

Jammu and Kashmir Bank plot loan does not offer any tax benefits.

Types of Jammu and Kashmir Bank Plot Loan

Jammu and Kashmir Bank Plot loan

When an applicant requires funds to purchase land, then this loan is provided by Jammu and Kashmir Bank.

Jammu and Kashmir Bank Plot with Construction Loan

Only provided to the applicant who wishes to construct a house after the purchase of the land. If construction is not started then Jammu and Kashmir Bank has the right to increase the interest rates on the loan.

Jammu and Kashmir Bank plot loans for self-employed

Type of plot loans self-employed

TruFixed plot Loan – 2 Year Fixed Rate Vary
In TruFixed plot Loan by Jammu and Kashmir Bank, firstly for two years, it will be a fixed-rate then after that period, it is turned into a variable rate.

Adjustable-rate loan
In this loan by Jammu and Kashmir Bank, since the interest rate keeps changing the EMI and the principal rates keep changing. Usually after a period of 3-6 months.

Jammu and Kashmir Bank Plot Loan Interest Rates For self-employed Non – Professionals

Jammu and Kashmir Bank  Adjustable Home Plot Loan

Loan Plot Loan Interest Rate (%)
women (up to 30 lakh) 7.05 to 7.55
others (up to 30 lakh) 7.10 to 7.60
women (above 30 lakh) 7.30 to 7.80
others (above 30 lakh) 7.35 to 7.85
Women (75.01 Lakhs and Above) 7.40 to 7.90
Others (75.01 Lakhs and Above) 7.45 to 7.95

Jammu and Kashmir Bank  TruFixed Loan – 2 Year Fixed Rate Variant

Loan Plot Loan Interest Rate (%)
Women (upto 30 Lakhs) 7.50 to 8
Others (upto 30 Lakhs) 7.55 to 8.05
Women (Above 30 Lakhs) 7.65 to 8.15
Others (Above 30 Lakhs) 7.70 to 8.20
Women (75.01 Lakhs and Above) 7.75 to 8.25
Others (75.01 Lakhs and Above) 7.80 to 8.30

Jammu and Kashmir Bank Plot Loan Interest Rates For self-employed professionals

Jammu and Kashmir Bank  Adjustable Rate Plot Loan

Loan Plot Loan Interest Rates (%)
Women (upto 30 Lakhs) 7.20 to 7.70
Others (upto 30 Lakhs) 7.25 to 7.75
Women (Above 30 Lakhs) 7.45 to 7.95
Others (Above 30 Lakhs) 7.50 to 8
Women ( 75.01 Lakhs and Above) 7.55 to 8.05

Jammu and Kashmir Bank  TruFixed Loan – 2 Year Fixed Rate Variant

Loan Plot Loan Interest Rates (%)
For Women (up to 30 Lakhs) 7.65 to 8.15
For Others (up to 30 Lakhs) 7.70 to 8.20
For Women (Above 30 Lakhs) 7.80 to 8.30
For Others (Above 30 Lakhs) 7.85 to 8.35
For Women ( 75.01 Lakhs and Above) 7.90 to 8.40
For Others ( 75.01 Lakhs and Above) 7.95 to 8.45

Jammu and Kashmir Bank Plot Loan documents required for both self-employed Professionals and Non-Professionals

Requirements For Self Employed Individuals
Proof of Identity PAN Card, Passport
Proof of address Aadhar Card, Electricity/ Mobile Bill
Financial proof – ITR
– Business details, P/L statement from the business.
Other Documents – All the plot documents

Jammu and Kashmir Bank Plot loan fees and charges for self-employed

Processing fee

Up to 0.25% of the loan amount, Min. Rs 500.

Prepayment charges

Adjustable-Rate Home Loans
– No prepayment needed

– The customer will be required to submit documents that Jammu and Kashmir Bank deems appropriate and appropriate to verify the source of the loan at the time of the payment.
Fixed-Rate Home Loans
– No advance payment is required for any partial/full payment made by your sources i.e, other banks or financial institutions
– The customer must submit documents that City Union Bank Bank deems appropriate and appropriate to determine the source of funding.
Fixed and Variable Rate Loans
During the period of Fixed-Rate:
– The client must submit documents approved by Jammu and Kashmir Bank to verify the source of the money during the repayment of the loan in advance.

During the Variable Rate:
– No prepayment will apply.
– The prepaid amount shown will apply on the date of the loan agreement.

The Conversion Fees

Name of the Service Name of the charge/fee levied When payable Frequency Amount
Switch to a lower rate in Variable Rate Loans Conversion fees On conversion On every spread change A cap of up to 50% of the original outstanding and the stipulated amount at the time of conversion or whichever is lower is Rs. 50,000,000 tax.
Switching to Variable Rate Loan from Fixed Rate Loan Conversion fees On conversion Once A cap of up to 50% of the original outstanding and the stipulated amount at the time of conversion or whichever is lower is Rs. 50,000,000 tax.
Switching from Trufixed Fixed Rate to Variable Rate Loan Conversion fees On conversion Once 1.75% original arrears and tax in excess of the undisputed amount at the time of conversion.
Switch to Lower Rate Conversion fees On conversion On every spread change Half of the spread difference on principal dues and unspecified amount plus taxes with a minimum fee of 0.5% and a maximum fee of 1.550%.
Switch to Lower Rate Conversion fees On conversion On every spread change 0.5% of tax in excess of the original outstanding and undisputed amount at the time of conversion.

Cheque dishonor charges

Minimum Rs 200.

Fees on Account of External opinion

Depending on the type of support provided, advocates and charges may be paid directly to the person concerned

Property insurance

The customer should remain active throughout loan term during by paying the premium.

Statutory/regulatory charges

Stamp duty chargest has to be paid by the borrower.

List of documents

Minimum Rs.500

Photocopy of documents

Minimum Rs.500

Increase/decrease in loan term

Minimum Rs.500

Disbursement Cheque cancellation charge post disbursement

Minimum Rs.200

Re-appraisal of loan

Minimum Rs.2000

PDC swap

Minimum Rs.200

Jammu and Kashmir Bank plot loans for salaried individuals

Who can apply Jammu and Kashmir Bank plot loans for salaried individuals?

Loan Maximum Amount(in %)
Up to Rs.30 lakh up to 80%
Rs.30.01 lakh to Rs.75 lakh up to 80%
Over Rs.75 lakh up to 75%

Type of plot loans for salaried individuals

TruFixed plot Loan – 2 Year Fixed Rate Vary
In TruFixed plot Loan by Jammu and Kashmir Bank, firstly for two years, it will be a fixed-rate then after that period, it is turned into a variable rate.

Adjustable-rate loan
In this loan by Jammu and Kashmir Bank, since the interest rate keeps changing the EMI and the principal rates keep changing. Usually after a period of 3-6 months.

Jammu and Kashmir Bank plot loan interest rates for salaried individuals

Adjustable Home Rate Loan

Loan Loan Interest Rates (in %)
Women (Upto 30 Lakhs) 7.05 to 7.55
Others (Upto 30 Lakhs) 7.10 to 7.60
Women (Above 30 Lakhs) 7.30 to 7.80
Others (Above 30 Lakhs) 7.35 to 7.85
Women (75.01 Lakhs and Above) 7.40 to 7.90
Others (75.01 Lakhs and Above) 7.45 to 7.95

TruFixed Loan – 2 Year Fixed Rate Variant

Loan Loan Interest Rates (%)
For Women (upto 30 Lakhs) 7.50 to 8
For Others (upto 30 Lakhs) 7.55 to 8.05
For Women (Above 30 Lakhs) 7.65 to 8.15
For Others (Above 30 Lakhs) 7.70 to 8.20
For Women (75.01 Lakhs and Above) 7.75 to 8.25
For Others (75.01 Lakhs and Above) 7.80 to 8.30

Jammu and Kashmir Bank plot loan documents required for salaried individuals

Requirements For Salaried Individuals
Proof of Identity PAN Card, Passport
Proof of address Aadhar Card, Electricity/ Mobile Bill
Financial proof – Must have last 6-month salary slips
– Credit score
Other Documents – All the plot documents

Jammu and Kashmir Bank plot loan fees and charges for salaried individuals

Processing fees

Up to 0.25% of the loan amount, Min. Rs 500.

Prepayment charges

Adjustable-Rate Home Loans
– No prepayment needed

– The customer will be required to submit documents that Jammu and Kashmir Bank deems appropriate and appropriate to verify the source of the loan at the time of the payment.
Fixed-Rate Home Loans
– No advance payment is required for any partial/full payment made by your sources i.e, other banks or financial institutions
– The customer must submit documents that Jammu and Kashmir Bank deems appropriate and appropriate to determine the source of funding.
Fixed and Variable Rate Loans
During the period of Fixed-Rate:
– The client must submit documents approved by Jammu and Kashmir Bank to verify the source of the money during the repayment of the loan in advance.

During the Variable Rate:
– No prepayment will apply.
– The prepaid amount shown will apply on the date of the loan agreement.

Conversion fees

Name of the Service The charge levied When payable Frequency Amount (in Rs.)
Switch to lower rate in Variable Rate Loans Conversion fees On conversion On every spread change A cap of up to 50% of the original outstanding and the stipulated amount
Switching to Variable Rate Loan from Fixed Rate Loan Conversion fees On conversion Once A cap of up to 50% of the original outstanding and the stipulated amount
Switching from Trufixed Rate to Variable Rate Loan Conversion fees On conversion Once 1.75% original arrears and tax
Switching to Lower Rate Conversion fees On conversion On every spread change A min. fee of 0.5% and a max. fee of 1.550%.
Switching to Lower Rate Conversion fees On conversion On every spread change 0.5% of taxes

Cheque dishonor charges

Minimum Rs 200.

Fees on Account of External opinion

Depending on the type of support provided, advocates and charges may be paid directly to the person concerned

Property insurance

The customer should remain active throughout loan term during by paying the premium.

Statutory/regulatory charges

Stamp duty chargest has to be paid by the borrower.

List of documents

Minimum Rs.500

Photocopy of documents

Minimum Rs.500

Increase/decrease in loan term

Minimum Rs.500

Disbursement Cheque cancellation charge post disbursement

Minimum Rs.200

Re-appraisal of loan

Minimum Rs.2000

PDC swap

Minimum Rs.200

How to apply for Jammu and Kashmir Bank  Plot Loan With DialAbank

  • Get Jammu and Kashmir Bank Plot Loan with Dialabank easily.
  • Just fill the required form from the Dialabank website itself.
  • Submit and that’s it!
  • We’ll call you back for any further processing.
  • Call – 9878981144

Additional tips to get Jammu and Kashmir Bank  Plot Loan Easily

  • Make sure you have a  very good credit score usually above 700+
  • Always fill your form with your original details.
  • Pickup the phone whenever the Bank tries to contact you.

Jammu and Kashmir Bank  Plot loan with Construction vs Home Loan

Parameters Plot Loan with Construction Regular Home Loan
Tenure ‬Up to 15‭ ‬years Up to 30 years
Prepayment fine Free Free
Loan to Value (LTV) up to 10.24% up to ‬90%‭
Plot with Construction Loan interest rates The rates are similar to a home loan but can go higher. Start at 6.80%*
Tax Benefits Eligible after the construction of a building or home on the plot Home loan owners are eligible.

FAQ’s

 What is the Plot loan interest rate in the Jammu and Kashmir Bank?

The Jammu and Kashmir Bank plot loan starts at 7.70%.

 What is a Jammu and Kashmir Bank Plot Loan?

Banks such as Jammu and Kashmir Bank offer plot loans to salaried as well as self-employed people residing in India or having an Indian nationality so that these people can take Jammu and Kashmir plot loan to buy a plot anywhere in India of their liking.

 How much processing fee is applicable to the Jammu and Kashmir Bank Plot loan?

Jammu and Kashmir Bank charges up to 0.25% of the loan amount.

 What is the loan tenure of the Jammu and Kashmir Bank Plot loan?

The Jammu and Kashmir Bank plot loan tenure be up to 15 years.

 How much EMI per Lakh can be fixed on Jammu and Kashmir Bank Plot Loan?

The Jammu and Kashmir Bank plot loan EMI per Lakh is ₹ 934.

 How can I avail plot loan from Jammu and Kashmir Bank?

You can avail Jammu and Kashmir Bank plot loan after passing the eligibility criteria of the bank.

 How to Apply for a Jammu and Kashmir Bank Plot loan?

Please visit the website of Jammu and Kashmir Bank to understand the application process or you can just call Dialabank at 9878981166.

 How to repay the Jammu and Kashmir Bank plot loan earlier than the schedule?

Visit the Jammu and Kashmir Bank website and check if you are eligible for early repayment.

 Is it possible to repay my loan earlier than the schedule?

Yes, you can repay your loan earlier than the schedule for the Jammu and Kashmir Bank plot loan.

 How to check Jammu and Kashmir Bank + Plot Loan eligibility?

Please check the eligibility requirements mentioned on the Dialabank website or the website of the Jammu and Kashmir Bank.

 What is the Jammu and Kashmir Bank Plot loan phone number?

For a Jammu and Kashmir Bank Plot loan, you only have to call – 9878981144.

 What is the Jammu and Kashmir Bank plot loan interest rate for women?

For women, the Jammu and Kashmir Bank plot loan interest rate starts from 7.05% – 7.70%. 

 What is the Jammu and Kashmir Bank plot loan interest rates for salaried individuals?

Jammu and Kashmir Bank plot loan interest rate – 7.10% – 7.70%.

 What is the Jammu and Kashmir Bank plot loan interest rates for self-employed individuals?

 Jammu and Kashmir Bank plot loan interest rate – 7.10% – 7.70%.

 What is Jammu and Kashmir Bank plot loan interest rates for self-employed non-professionals?

Jammu and Kashmir Bank interest rate – 7.10% – 7.70%.

 How is a plot loan different from a home loan?

Few differences:

  • Tax benefits for Jammu and Kashmir Bank Home loan owners but no tax benefits for Jammu and Kashmir Bank plot loan.
  • Usually, the LTV in Jammu and Kashmir Bank plot loan is less but Jammu and Kashmir Bank home loans can be 90%.

 Can I take a plot loan along with a home loan?

No.

 What is the maximum amount that I can take as a loan?

The maximum loan amount is determined by the Jammu and Kashmir Bank after checking your land documents.

 Can a plot loan finance an investment in any plot, anywhere?

Yes, anywhere in India.

 What is a Balance Transfer on Plot Loan?

Balance Transfer for Jammu and Kashmir Bank plot loan helps you lower your EMIs by transferring your remaining loan to other financial institutions to one that offers a lower interest rate.

 Do I get any tax benefits on a plot loan?

Not with Jammu and Kashmir bank plot loan.

 How many years can I keep the plot of land before starting construction?

For Jammu and Kashmir Bank plot loan with Construction please check with the Jammu and Kashmir Bank by calling Dialabank at 9878981166.

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