Jammu and Kashmir Bank Saholiyat/Saral Finance for Salaried Employees

Thinking of a Personal Loan from J&K Bank to pay off your debts?

The Jammu & Kashmir Bank Personal Loan is going to be the perfect loan option for you

Jammu & Kashmir Bank Saholiyat/Saral Finance Scheme for 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 Saholiyat/Saral Finance Scheme for Employees

Why this Loan?

  • The Jammu & Kashmir Bank Personal Loan for Salaried Employees scheme is meant for customers 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 personal loan can also be repurposed into a consolidation loan to pay off their high-interest credit card debts and loans
  • This is a collateral-free loan

Loan Amount

  • The maximum loan amount sanctioned by the bank under this loan scheme is up to 36 times the gross monthly salary of the borrower


  • 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 3.00%. As of October 2020, the MCLR of Jammu & Kashmir Bank is 7.50% bringing the effective interest rate at 10.50%


  • This loan must be repaid within 7 years


  • Permanent/confirmed employees of Public Sector Undertakings, Central Government, State Government units and autonomous bodies & institutions are eligible for this loan

Security Needed

  • Borrowers who maintain their salary account with the bank do not need to offer any collateral or security to get the loan
  • Borrowers who do not maintain a salary account with the bank need to provide a third-party guarantee to get the loan

Processing Charges

  • There are no 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: www.jkbank.com
  • Headquarters: Srinagar, Jammu & Kashmir
  • Call Centre Toll-Free Number: 1800 1800 234