The bank has revised the interest on FD up to Rs 2 crore and these new rates have come into effect from tomorrow, 11 November 2023. The bank has increased the interest on FD of 555 days by 0.40 percent. Now the bank is giving 7.50 percent interest on FD of 555 days.

Bank increased interest on this FD

Jammu and Kashmir Bank is offering 7.50 percent interest on FD of 555 days. Earlier it was paying 7.10 percent interest on it. The bank has increased the interest on this FD by 0.40 percent. There has been no change in the interest on FD for the remaining period. Jammu and Kashmir Bank was formed about 85 years ago and since then the bank has become one of the scheduled commercial banks in the private sector.

Jammu and Kashmir Bank many new FD rates

Jammu and Kashmir Bank is offering interest rate of 3.50% on FD maturing in 7 days to 30 days. Jammu and Kashmir Bank (J&K Bank) is offering an interest rate of Rs 3.50 on FDs maturing in 31 days to 45 days. Jammu and Kashmir Bank is offering 4.60 percent interest on deposits of 46 days to 180 days. The bank is offering 4.75% interest on FDs of 91 days to 180 days. The bank is offering interest of 5.60% on deposits of 181 days to 270 days.

These are the new interest rates of FD

FD of 181 days to 221 days is getting 5.60 percent interest. Earlier the interest rate on FD of 222 days was 5.60 percent. Now it is giving 6.30 percent interest on FD of 222 days. Now interest on FD ranging from 223 days to 270 days will be available at the rate of 5.60%. You will get 6% interest on FD for 271 days to 332 days.

Instead of 6% interest on 333 days FD, you will get 6.60% interest. 6 percent interest will be available on FD of 334 days to one year. Now interest on FD from 1 year to 2 years will be available at the rate of 7.10%. Customers will get interest at the rate of 7% on FDs of two to three years or less. Jammu and Kashmir Bank (J&K Bank) is offering 6.50 percent interest on FDs of 3 to 5 years and 5 to 10 years.

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The Reserve Bank of India (RBI) on Friday said it has imposed a penalty of Rs 2.5 crore on Jammu and Kashmir Bank (J&K Bank) for non-compliance with certain directions. Bank of Maharashtra has also been fined Rs 1.45 crore for non-compliance of certain directions issued by the RBI.

In another statement, the central bank said a penalty of Rs 30 lakh has been imposed on Axis Bank. It added that the bank had levied penal charges in some accounts for late payment of credit card dues.

However, the customers had paid the dues by the due date through other means. RBI said the penalty is based on deficiencies in regulatory compliance.

The post RBI imposed fine of crores of rupees, Do you have an account with these 3 banks? first appeared on Rightsofemployees.com.

Jammu and Kashmir Bank has increased FD interest rates after the Reserve Bank of India (RBI) increased the repo rate to 6.5 percent. The increased interest rates of the bank have come into effect from 11 February.

FD interest rates of Jammu and Kashmir Bank

3.50 percent interest will continue to be available on FDs of 7 days to 30 days in J&K Bank. Whereas for a period of 31 days to 45 days, this interest rate will be 3.70 percent.

Jammu and Kashmir Bank has increased the FD interest rate by 0.25 percent for a period of 46 days to 180 days. Now it has become 4.75 percent instead of 4.50 percent. And for a period of 181 days to 270 days, the FD interest rate will be 5.50 percent.

Will get more interest on FD of 2 years

6 percent interest will be available on FD in J&K Bank for a period of 271 to 364 days. Earlier it was 5.75 percent. At the same time, the bank FD interest rate will be 7.25 percent for a period of one year to 2 years. Earlier it was 6.75 percent.

For FDs of two years to three years, customers in the bank will get 6.75 percent interest. While the bank will pay 6.50 percent interest on FDs with a period of 3 to 10 years.

J&K Bank working since 1938

Jammu & Kashmir Bank was started in 1938. Its head office is in Srinagar. Then Maharaja Hari Singh of Jammu and Kashmir started this bank with a paid-up capital of only Rs 5 lakh. It is one of the oldest commercial and private sector banks in the country.

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