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Nearly 85 years old private sector lender Jammu and Kashmir Bank (Jammu and Kashmir Bank) has reduced its fixed deposit (FD) rate. The bank has reduced interest rates by 25 basis points on FDs of less than Rs 2 crore. After this change in interest rates, the bank is paying a maximum interest of 7.50% to its customers on FDs ranging from 1 year to less than 2 years. According to the information received from the official website of the bank, the new interest rates are applicable from March 11.
Here are the current FD rates of the bank
At present, J&K Bank offers its customers 3.50% on FDs of 7 days to 30 days, 3.50% on FDs of 31 days to 45 days, 4.50% on FDs of 46 days to 90 days and FDs of 91 days to 180 days. But is paying 4.50% interest. On the other hand, the bank is giving 5.50% interest to its customers on FDs of 181 days to 270 days and 6% interest on FDs of 271 days to less than 1 year.
Maximum interest of 7.25% is available here
On the other hand, Jammu and Kashmir Bank 7.25% on FDs from 1 year to less than 2 years, 6.75% on FDs from 2 years to less than 3 years, 6.50% on FDs from 3 years to less than 5 years and 5 years From is paying 6.50% interest on FDs of less than 10 years. While according to Jammu and Kashmir Bank, the bank is giving an additional 0.50% interest to senior citizen customers above 60 years of age.
