Thinking of a Personal Loan to pay off your debts?

Check out the Jammu & Kashmir Bank Personal Loan for self-employed professionals

Jammu & Kashmir Bank Saholiyat/Saral Finance Scheme for Self-employed Professionals

This loan scheme is designed to help self-employed professionals get funds to meet their urgent financial needs such as expenses for a child’s wedding, child’s education, medical emergency, domestic/foreign travel, etc.

Features of Jammu & Kashmir Bank Saholiyat/Saral Finance Scheme for Self-employed Professionals

Why this Loan?

  • The Jammu & Kashmir Bank Personal Loan for Self-employed Professionals scheme is meant for self-employed doctors, CAs, architects, engineers and lawyers 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 availed as a consolidation loan to pay off debts
  • This is a collateral-free loan

Loan Amount

  • The maximum loan amount sanctioned by the bank under this loan scheme is up to 30 times the gross monthly salary of the borrower or 2.5 times the net annual income capped at Rs. 10 lakh


  • 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 4.00%. As of October 2020, the MCLR of Jammu & Kashmir Bank is 7.50% bringing the effective interest rate at 11.50%


  • This loan must be repaid within 5 years


  • Self-employed professionals such as doctors, CAs, architects, lawyers and engineers are eligible for this loan

Security Needed

  • Borrowers need to provide a third-party guarantee to get the loan

Processing Charges

  • The bank charges 0.50% of the loan amount 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 Self-employed Professionals/Self-employed Individuals: Computation of income of last 2 years, Balance Sheet, Profit and Loss Account, Registration Certificate, GST Return, Income Tax Challan/ Form 26AS/TDS Certificate, IT Assessment, etc.

Reference Facts

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