J&K Bank Cash Certificate Scheme (CCR) Check Features

• Cumulative Term Deposit Scheme in which Compound interest is paid at the time of maturity.

• Resident Individuals (sole or joint account)
• Hindu Undivided Families.
• Minor through parents/guardian.
• Sole Proprietorship Concerns, Partnership Firms
• Private and Public Limited Companies
• Associations, Clubs, Societies, Trusts etc.

• Deposit Amount: Rs. 1000/- and above.
• Tenure: 07 days to 10 years.
• Interest rate: Fixed.
• Interest application: Quarterly Compounding basis.
• Interest payouts: On maturity.
• Add-ons: Loan facility up to 90% of amount deposited plus interest accrued.

• Premature withdrawal: Allowed with penalty.
• Interest on  premature withdrawal will be paid at 0.50% below the rate applicable for the period the deposit remained with the bank, provided the deposit has remained with the bank for at least 7 days.
• However, no interest will be paid on Deposits which remain for a period of less than 7 days.

• TDS at prevalent rate is deducted at source if Form 15G/15H not submitted.

• Filled in Application Form.
• Photograph of depositor/s (2 copies)
• Officially Valid Documents as  per KYC Norms
• PAN Card or Form 60 or 61
• Any other related documents as applicable to Minors, Partnership Firms, Companies, HUF’s etc

Click here for rate of Interest

• What is the eligibility for opening an account under Cash Certificate Scheme of J&K Bank?
  Accounts under Cash Certificate Scheme can be opened by individuals , either singly or jointly, Parents/ Guardians on behalf of minors, Sole proprietorship firms,  Partnership firms,  Private and Public Limited Companies , HUFs, Associations, Societies, Trusts, etc.
• What is the minimum amount required for opening account under the Cash Certificate Scheme?
  You can open an account under this scheme with an amount of Rs 1000 and above.
• What are the tenures for which the accounts can be opened?
  You can open an account for any tenure ranging from 07 days to 10 years.
• Is interest under this scheme applied on Simple or Compound basis?
  Compound interest is provided under this scheme.
• Is loan facility available against the deposit amount?
  Loan facility up to a maximum of 90% of amount deposited plus interest accrued if any, is available.
• Can I withdraw my deposit prematurely?
  Yes, but penal interest, as applicable, shall be charged on such pre-mature withdrawals.