The Jammu And Kashmir Bank offers Housing Loan for Residential houses/flats to be constructed/ purchased by the individuals.

Housing Loan

Purpose-

Residential houses/flats to be constructed/ purchased by the individuals.

Residential houses/flats to be constructed by public agencies like HUDCO, Housing Boards, Local Bodies, Co-operative Societies, Builders or Employers etc. for individuals.

Eligibility-

Permanent Employees of State / Central Government, Government / Semi-Government Undertakings & Autonomous Bodies

Employees of Reputed Companies with a minimum of 3 years of service

Professionals, Self Employed Individuals / Businessmen with a minimum 3 years
standing in the current profession.

Persons engaged in agricultural and allied activities.

Retired Employees of State / Central Government, Public Sector Undertaking.

Non-Resident Indians are also eligible for financing under the scheme. Sanctioning authorities to satisfy themselves about the income earned by the Non-Resident and take necessary safeguards for extending finance and regular repayment of such loans.

Age of borrower

Minimum age: 18 years as on the date of sanction

Maximum age: 70 years

Margin -

For Construction / purchase:

Loan up to 30 Lakh 10%
Loan above Rs. 30 Lakh to Rs. 75 Lakh 20%
Loan above Rs. 75 Lakh 25%

For Purchase of Land / Plot : Borrowers’ contribution (margin) shall not be less than 40% of the cost of land / plot

Interest Rate (Floating) with a reset clause of 1 (one) year.

For First/Second Housing Loan*

Limit Rate
Up to Rs 100.00 Lakh 1 year MCLR
Above Rs 100.00 Lakh to Rs 300.00 Lakh 1 year MCLR + 20 bps
Above Rs 300.00 Lakh 1 year MCLR + 35 bps

*Conditions Apply.

Contact-

The Jammu & Kashmir Bank Ltd.
Corporate Headquarters
M.A Road
Srinagar, J&K , India

Phone : 0194-2481900,
Fax: 0194-2481902

Board line Numbers: (+91- 0194) 2481930 -2481935