Updated 15 Dec 2023
Age brings wisdom, memories, and the need for secured financial instruments. Recognising the importance of the latter, Jammu and Kashmir Bank has conscientiously curated FD rates tailored for senior citizens. Ensuring that the golden years are accompanied by consistent growth in savings, the bank's attractive rates reflect its dedication to this special segment of society.
This blog spotlights the nuances of the Senior Citizen FD rates offered by the bank, underscoring its intent to fortify post-retirement financial safety. Dive in to explore the bank's offerings, ensuring that your retirement journey is both fruitful and secure.
Jammu & Kashmir Bank FD Interest Rates 2023
Tenure | Senior Citizen FD Rate |
---|---|
7 days - 30 days | 3.50% |
1 month - 1 month 14 days | 4% |
1 month 15 days - 5 months 27 days | 5% |
5 months 28 days - 8 months 26 days | 6% |
8 months 27 days - 11 months 29 days | 6.50% |
11 months 30 days - 1 year 11 months 29 days | 7.60% |
1 year 11 months 30 days - 2 years 11 months 29 days | 7.50% |
2 years 11 months 30 days - 9 years 11 months 28 days | 7% |
Note: All interest rates shown above are as on 4th Aug 2023
The eligibility criteria for the senior citizen FDs is that they need to be at least or above the age of 60 on the day of opening the FD account. They typically need to be residents to open a senior citizen FD; However, NRIs can also open accounts through NRE and NRO accounts.
The documentation required is similar to that of a normal FD account opening. One metric being essential is your age proof.
Identity Proofs
Address Proof
Age proof is mandatory to avail of a Senior Citizen FD account.
Who qualifies as a senior citizen at J&K Bank?
Generally, individuals aged 60 years and above are considered senior citizens by most banks, including J&K Bank.
Is there a specific tenure for senior citizen FDs at J&K Bank?
J&K Bank offers a range of tenures for FDs. However, the special interest rate for senior citizens is applicable across various tenures.
Can I open a joint FD account with a senior citizen rate?
Yes, but typically, the primary account holder must be a senior citizen to avail of the special rates.
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