-CUSTOMER VALUE-

Cumulative Term Deposit Scheme in which Compound interest is paid at the time of maturity.

Premature withdrawal: Allowed with penalty.
Interest on premature withdrawal will be paid at 0.50% below the rate applicable for the period the deposit remained with the bank, provided the deposit has remained with the bank for at least 7 days.
However, no interest will be paid on Deposits which remain for a period of less than 7 days.

Filled in Application Form.
Photograph of depositor/s (2 copies)
Officially Valid 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

What is the eligibility for opening an account under Cash Certificate Scheme of J&K Bank?
Accounts under Cash Certificate Scheme can be opened by individuals , either singly or jointly, Parents/ Guardians on behalf of minors, Sole proprietorship firms, Partnership firms, Private and Public Limited Companies , HUFs, Associations, Societies, Trusts, etc.
What is the minimum amount required for opening account under the Cash Certificate Scheme?
You can open an account under this scheme with an amount of Rs 1000 and above.
What are the tenures for which the accounts can be opened?
You can open an account for any tenure ranging from 07 days to 10 years.
Is interest under this scheme applied on Simple or Compound basis?
Compound interest is provided under this scheme.
Is loan facility available against the deposit amount?
Loan facility up to a maximum of 90% of amount deposited plus interest accrued if any, is available.
Can I withdraw my deposit prematurely?
Yes, but penal interest, as applicable, shall be charged on such pre-mature withdrawals.