Thinking of a Personal Loan to pay off your debts?

This cash credit scheme from Jammu & Kashmir Bank is probably the best option for you

Jammu & Kashmir Bank Cash Credit Scheme for Salaried Employees

This loan scheme is designed to help salaried employees of government organisations, public sector undertakings and autonomous bodies get funds to meet their urgent financial needs. These may range from expenses for a child’s wedding and education to medical emergency and domestic/foreign travel.

Features of Jammu & Kashmir Bank Cash Credit Scheme for Salaried Employees

Why this Loan?

  • The Jammu & Kashmir Bank Cash Credit Scheme for Salaried Employees scheme is meant for salaried employees of Central Govt., State Govt., semi-government undertakings and autonomous bodies drawing salary from J&K Bank account who need financial assistance to meet their urgent personal needs such as child’s wedding, child’s education, overseas/domestic travel, medical exigency, etc.
  • This scheme can also be repurposed into a consolidation loan to pay off their high-interest credit card debts and loans
  • There are no pre-payment charges for this loan

Loan Amount

  • The minimum loan amount sanctioned by the bank under this loan scheme is Rs. 50,000
  • The maximum loan amount sanctioned by the bank under this loan scheme is up to 6 times the gross monthly salary of the borrower restricted to Rs. 6 lakh when the remaining period of service of the borrower is at least 8 years


  • The interest rate applicable to this loan is defined as the sum of two factors namely, one-year Marginal Cost of Funds Based Lending Rate (MCLR) and (Strategic) Spread of 3.50%. As of October 2020, the MCLR of Jammu & Kashmir Bank is 7.50% bringing the effective interest rate at 11.00%


  • This loan must be repaid within 7 years


  • The borrowers should be above the age of 21 years
  • Permanent/confirmed employees of Public Sector Undertakings, Central Government, State Government units and autonomous bodies & institutions drawing salary through J&K Bank are eligible for this loan

Security Needed

  • This is a collateral-free loan

Processing Charges

  • The bank charges 0.25% of the loan amount with a minimum of Rs. 500 and a maximum of Rs. 1,000 for processing charges for this loan

Documents Needed

  • Loan Application Form duly filled and signed by the applicant and co-applicant, if any
  • Two Passport Size Photographs of applicant and co-applicant
  • Personal ID Proof: Aadhaar Card, PAN Card, Passport or Driving License. PAN Card / PAN Card Issuing Letter is must
  • Signature Proof: PAN Card, Banker’s Verification, Driving License or Passport
  • Residential Address Proof (Any One): Aadhaar Card, Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
  • Income/Banking Proof for Salaried Professionals: Last 3 months’ salary slip, Form 16 or income tax returns

Reference Facts

  • Jammu & Kashmir Bank Website:
  • Headquarters: Srinagar, Jammu & Kashmir
  • Call Centre Toll-Free Number: 1800 1800 234