J&K Bank Monthly Yield Deposit Scheme Check Features

• Deposit Amount                 Rs. 1000/- and above.
• Tenure                                   1 year to 10 years.
• Interest rate                        Fixed.
• Interest application             Simple Interest (Discounted).
• Interest payouts                 Monthly.
• Premature withdrawal       Allowed with penalty.

• A person in his/her name.
• More than one person in their joint names.
• Minor through parents/guardian.
• Sole Proprietorship firms, Partnership firms
• Private and Public Limited Companies
• HUFs
• Associations, Clubs, Societies, Trusts etc.

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• Application Form
• Photograph of depositor/s (2 copies)
• 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

• What is the eligibility for opening an account under Monthly Yield Deposit Scheme 
  of J&K Bank?
  Monthly Yield Depositaccounts 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 an account under the 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 1 year to 10 years.
• Is interest under this scheme applied on Simple or Compound basis?
  Simple Interest (Discounted) is provided under this scheme.
• Can I withdraw my deposit prematurely?
  Yes, but penal interest, as applicable, shall be charged on such pre-mature withdrawals.