Zeroed on Jammu and Kashmir Bank to buy your dream home? Searching for its home loan interest rates? Well, the bank offers affordable interest rates to the borrowers for repay the EMIs without having to pinch their wallet. In addition, the bank also provides a higher quantum of finance to buy a dream home.
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Jammu and Kashmir Bank Home Loan Interest Rates February 2023
|Home Loan Interest Rate||7.20% - 7.60%|
|Loan Tenure||Up to 30 years|
|Security||Equitable or registered mortgage of the house or flat to be purchased or constructed|
Jammu and Kashmir Bank Balance Transfer Interest Rates
Since a home loan generally runs for as long as 20-30 years, it makes for a case of regular introspection. So if your home loan is running at a lender charging a higher interest rate than Jammu & Kashmir Bank, you can thus shift the outstanding balance of the loan to the latter and save a huge hunk of interest repayments from your end. This, in the world of loan, is called as balance transfer.
Jammu and Kashmir Bank Housing Loan Formalities
The bank, before disbursing a housing loan, checks whether the borrower meets the following criteria.
- Permanent employees of state or central government, semi-government undertakings and autonomous bodies
- Retired employees of state, central or public sector undertaking
- Employees of reputed organizations with at least 3 years of work experience
- Self-employed individuals or businessmen with at least 3 years in the existing business
- Persons involved in agriculture and allied activities
- Non-resident Indians (NRIs) provided the sanctioning authorities are convinced about the income of the concerned individual/s