J&K Bank FD Calculator
Fixed Deposit Rates on Domestic/NRO/NRE deposits of less than Rs 2 crore - General Public
| Days/Years | Regular Citizens |
| 7 days to 30 days | 3.5 |
| 31 days to 45 days | 3.7 |
| 46 days to 90 days | 4 |
| 91 days to 180 days | 4.5 |
| 181 days to 270 days | 5 |
| 271 days to less than 1 year | 5.25 |
| 1 year to less than 2 years | 6.25 |
| 2 years to less than 3 years | 5.75 |
| 3 years to less than 5 years | 5.75 |
| 5 years to less than 10 years | 6 |
Note: The FD interest rates are effective as of 11 August 2022
Fixed Deposit Rates on Domestic/NRO/NRE deposits of less than Rs 2 crore - Senior Citizens
| Tenure | |
| Days/Years | Senior Citizens |
| 7 days to 30 days | 4 |
| 31 days to 45 days | 4.2 |
| 46 days to 90 days | 4.5 |
| 91 days to 180 days | 5 |
| 181 days to 270 days | 5.5 |
| 271 days to less than 1 year | 5.75 |
| 1 year to less than 2 years | 6.75 |
| 2 years to less than 3 years | 6.25 |
| 3 years to less than 5 years | 6.25 |
| 5 years to less than 10 years | 6.5 |
Note: The FD interest rates are effective as of 11 August 2022
Jammu & Kashmir Bank Tax Saver Deposit - General Public
| Tenure | Regular Citizens |
| 5 years – 10 years | 6.00% |
Jammu & Kashmir Bank Tax Saver Deposit - Senior Citizens
| Tenure | Senior Citizens |
| 5 years – 10 years | 6.50% |
Interest Rates on FCNR(B) deposits
| Currency/Period | 1 year to less than 2 years | 2 years to less than 3 years | 3 years to less than 4 years | 4 years to less than 5 years | 5 years only |
| USD | 3 | 2.7 | 2.5 | 2.4 | 2.5 |
| GBP | 2.1 | 2.15 | 2.25 | 2.25 | 2.25 |
| EUR | 0 | 0 | 0 | 0 | 0 |
| JPY | 0 | 0 | 0 | – | – |
| CAD | 2.3 | 2.35 | 2.4 | – | – |
| AUD | 2.25 | 2.3 | 2.4 | – | – |
Note: The FD interest rates are effective as of 5 August 2022
Interest Rates on RFC deposits
| Period/Currency | USD | GBP | EUR | JPY |
| 1 month to less than 6 months | 1.14 | 0.81 | 0 | 0 |
| 6 months to less than 1 year | 1.45 | 1.09 | 0 | 0 |
| 1 year to less than 2 years | 3 | 2.1 | 0 | 0 |
| 2 years to less than 3 years | 2.7 | 2.15 | 0 | 0 |
| 3 years | 2.5 | 2.25 | 0 | 0 |
Note: The FD interest rates are effective as of 6 July 2022
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J&K Bank FD Calculator
Investing in a fixed deposit is a wise choice if you want to earn stable returns and grow your savings. However, getting an estimated picture of the interest your money will make is vital. This will allow you to choose a suitable scheme as per your financial objective.
J&K Bank fixed deposit interest rate starts from 3.50% for general citizens. You can use an online J&K Fixed Deposit calculator to get an estimate of the maturity amount. You only need to fill in different investment inputs, and the tool will do its job effectively within seconds.
To know more about this tool, read on.
J&K Bank Fixed Deposit (FD) Calculator
With J&K Fixed Deposit schemes, you can invest for a minimum of 7 days and a maximum of 10 years. J&K Bank fixed deposit interest rates range from 3.50% to 6.50% p.a. for the general public on deposits less than ₹2 crore. On the other hand, it offers 4% to 7.00% p.a. for senior citizens for investments less than ₹2 crore.
These schemes provide investors with the desired safety and certainty as well as flexibility. With a wide range of options and varying FD rates, it becomes quite complicated for individuals to decide on a particular scheme. Therefore to help you choose a scheme that perfectly aligns with your financial requirements and goals, online J&K FD Calculator is an excellent tool.
With this calculator, you get to clear confusion regarding which scheme to select and get an idea of the amount it assures at maturity.
How Does the J&K Bank FD Calculator Work?
This online device is easy to use and includes no complicated procedures. To compute the maturity amount effectively, here is a step-step guide on the usage of this online calculator:
1. Enter an investment amount in the “Total Investment” box.
2. Now drag the purple slider accordingly until it reaches your desired tenure. You can also enter the number of years in the box provided.
3. Then enter the interest rate, and the ride side of your screen will display your estimated return and total value received against your FD investment with J&K Bank.
However, you can alter the investment particulars and choose a suitable FD scheme as per your plans.
Fixed deposit is two ways:
- Compound Interest FD
- Simple Interest FD
In the case of compound interest, the formula for calculating maturity amount is A = P(1+r/n)^nt.
In this given formula,
A denotes maturity value
P is the deposit amount
t stands for the investment tenure
r is the annual interest rate
n is equal to the number of times the interest is compounded.
To know about how much you may earn at the end of your chosen tenure when investing ₹ 1 Lakh, lets consider an example:
If you invest ₹ 1 Lakh in J&K Bank fixed deposit scheme for 10 years at a yearly compounding interest rate of 6% p.a., then the total maturity value will be:
A = 100000 (1+0.06/1) ^ 1 x 10 = ₹1,81,402.
The interest amount gained is A-P = ₹ (1,81,402 – 1,00,000) = ₹81,402.
On the other hand, in case of simple interest, the required formula is:
M= P+ (PXRXT/100)
In this given formula,
M stands for the maturity amount
T denotes the investment tenure
P is the investment amount, and
R is the rate of interest.
Benefits of an Online J&K Bank FD Calculator
This online tool comes with a user-friendly interface, and is easy to operate. Mentioned below are some prominent benefits of using this FD calculator that every investor must know:
- Prompt and Accurate Results
Manual calculations might lead to mistakes. An online J&K Bank FD calculator leaves no room for errors as the entire calculation is done in an automated way. Upon entering various investment figures, you can get precise and accurate output within a fraction of a second. - Offers Customisation Option
This online calculator offers a customisation option. Investors can alter their investment details like principal amount, tenure, and J&K Bank fixed deposit interest rates to find a favourable FD scheme that offers suitable interests. Hence this will help them to make more knowledgeable decisions about choosing the right investment option. - Free and Easily Accessible
An online FD calculator is totally free to use and is readily available on many websites. You simply will need an internet connection and a smart device to access this tool from anywhere. No personal information is needed.
If you have been planning to invest in J&K Bank FD, you can use the Upstox J&K FD calculator to get a proper insight into the interest amount earned. Enter the necessary details, determine the estimated accrued interest and start investing.
Frequently Asked Questions
What is the lowest and highest rate of interest on J&K FS schemes?
The lowest interest rate offered by J&K Bank is 3.50% p.a. for general citizens, and the highest rate offered is 7.00% p.a. (applicable for senior citizens). This is for investment of less than ₹2 crore.
Is there any special interest rates offered to a senior citizen?
Yes, senior citizens can earn an additional interest rate of 0.50% p.a. with J&K fixed deposit account.
Can a customer open an FD account with J&K Bank online?
Yes, customers can open an FD account with this bank online by submitting the online application form.
What minimum deposit amount is needed to open an FD account with J&K Bank?
The minimum deposit amount needed to open an FD account with this bank is ₹100.
What maximum deposit amount is needed to open an FD account with J&K Bank?
There is no maximum investment limit on FD with J&K Bank
Does J&K Bank have a premature withdrawal facility?
Yes, this bank has a premature withdrawal facility where individuals can withdraw their premature FD amount if they want money before the tenure ends.
What is the penalty in J&K Bank FD?
J&K Bank charges a penalty of 0.50% for early withdrawal. There is no premature withdrawal available for tax-saving scheme.
Who are eligible to open a J&K fixed deposit account?
Any individual resident of India can open J&K Bank fixed deposit account by visiting their nearest branch or from the official website.
What is the lock-in period for the Tax Saving scheme?
The lock-in period for J&K Tax Saving Scheme is 5 years.
Disclaimer:
This calculator is meant to be used for indicative purposes only. It is designed to assist you in determining the appropriate amount of prospective investments. This calculator alone is not sufficient and shouldn’t be used for the development or implementation of any investment strategy. Upstox does not take the responsibility/liability nor does it undertake the authenticity of the figures calculated therein. Upstox makes no warranty about the accuracy of the calculators/reckoners. The examples do not claim to represent the performance of any security or investments. In view of the individual nature of tax consequences, each investor is advised to consult his/her own professional tax advisor before making any investment decisions on the basis of the results provided through the use of this calculator.