Latest news with #J&KBank
Time of India
21-05-2025
- Business
- Time of India
Home loan interest rates less than 9%: 10 private banks offering lowest interest on home loan
Buying a home is a significant milestone, often requiring financial assistance through a home loan. Private banks offer home loans to help individuals buy, construct, or upgrade residential real estate properties. Understanding the nuances of home loan interest rates, the importance of a good credit score, Equated Monthly Installments (EMIs), and the important documents to check before buying a property can make this process smoother and more cost-effective. Importance of credit score Your interest rate is linked to your credit score, which can be ensured by timely payment of all EMIs and credit card dues. Being a super-prime borrower (score: 800+) helps you get a lower home loan rate. Equated Monthly Instalment Still confused between New vs Old Tax Regime? Find out which one saves you more with our tax calculator! EMI or Equated Monthly Instalment is a fixed amount paid by you to the bank on a specific date every month. The EMI's are fixed when you borrow money from the bank as a loan. EMI's are used to pay both interest and principal amount of a loan in a way that over a specific number of years, the loan amount is repaid to the bank along with interest. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like You will never turn off your computer again. Undo Interest rate Many private banks offer home loans to their customers and interest rates differ depending on credit score, home loan tenure, age, and occupation. Here is a quick comparison of interest rates being offered by private banks in May 2025. Live Events The EMI is calculated on a loan of Rs 30 lakh for 20 years. Private bank Home loan interest rates EMI 1 J&K Bank 8 25,080 2 IDBI Bank 8.25 25,560 3 Karur Vysya Bank 8.45 25,950 4 HDFC Ban 8.5 26,040 5 Tamilnad Mercantile Bank 8.5 26,040 6 Kotak Mahindra Bank 8.65 26,310 7 South Indian Bank 8.7 26,430 8 Axis Bank 8.75 26,520 9 ICICI Bank 8.75 26,520 10 Karnataka Bank 8.78 26,580 What documents should I check before buying a new property? Below are the documents borrowers need to check when buying a new property. Sale Deed Title Deed Approved Building plans Completion Certificate (For Newly constructed property) Commencement Certificate (For Under-construction property) Conversion Certificate( If agricultural land is converted to non-agricultural) Khata Certificate (especially in Bengaluru) Encumbrance Certificate Latest Tax Receipts Occupancy Certificate By understanding the fixed and floating interest rates, maintaining a strong credit score, managing EMIs effectively, and verifying essential property documents, you can make informed decisions that align with your financial goals. How does my salary influence my home loan amount? According to SBI home loan FAQs, 'Apart from other criteria and norms of the lending bank, the home loan amount is generally calculated on the basis of your EMI and NMI ratio, where NMI is the take-home pay after taxes and other payroll deductions. The EMI/NMI ratio varies in the range of 20% to 70% for different Net Annual Income slabs. The loan amount can be increased by including a co-applicant.'
Time of India
14-05-2025
- Business
- Time of India
UPI-linked Revolving Credit Instrument to be introduced by J&K Bank powered by Pine Labs
. MUMBAI: Pine Labs and J&K Bank are introducing a tech-first RuPay Credit Card for the bank's customers. The RuPay Credit Card can also be linked to UPI for seamless credit transactions . This integration will also enable seamless processing of pre-sanctioned credit lines on UPI. To enable Credit Cards on UPI, Pine Labs has built and integrated its own UPI Switch on this platform for smart routing of transactions through speedy networks, which is expected to bring down transaction failure rates. This switch can seamlessly adopt all UPI payment features including AutoPay, link-based payments, e-RUPI, QR, and credit card payments. B Amrish Rau, CEO, Pine Labs, said, 'Today's launch is a shot in the arm for Revolver Credit use cases like credit cards.'
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Business Standard
05-05-2025
- Business
- Business Standard
Jammu & Kashmir Bank Q4 results: Net profit drops 8% to ₹584.54 crore
Jammu & Kashmir Bank on Monday reported over 8 per cent decline in net profit to Rs 584.54 crore for the January-March quarter of 2024-25 compared to Rs 638.67 crore in the year-ago period. On a sequential basis, net profit rose by 10 per cent compared to Rs 531.51 crore in the previous December quarter of FY 2024-25, according to an exchange filing by the bank. Total income of the bank rose by 15 per cent to Rs 3,616.16 crore in the fourth quarter of the last fiscal compared to Rs 3,134.74 crore in the same quarter of the previous year. The bank reported a total income of Rs 3,448.40 crore in the December quarter. Total expenses rose to Rs 2,816.14 crore in the March quarter from Rs 2,470.91 crore in the year-ago period due to high employee expenses. For the full 2024-25 fiscal, the bank reported a nearly 18 per cent rise in net profit to Rs 2,082.46 crore compared to Rs 1,767.27 crore reported for FY 2023-24. "The bank again for the third year in succession has posted very good profits. I start with the profits because that's one thing that everyone wants to know. We have crossed the Rs 2,000 crore profit mark this fiscal. Apart from the profit, as the guidance of the bank has been, we have posted double-digit growth in both advances and deposits, and we have also posted robust other income, non-interest income," J&K Bank MD & CEO Amitava Chatterjee told PTI. He said overall, it has been a very good financial year for the bank. "To top it all, the NPAs have further reduced from 4.08 per cent last year to 3.37 per cent this year. The net NPAs continue to be below one per cent," he said. On the future plans, Chatterjee said the potential of the bank gives it an advantage to grow. "We have a very strong presence in UTs of Jammu and Kashmir & Ladakh. So that gives us an advantage to grow in this geography. But we also have a very strong presence outside this area. In fact we are present in 20 other states of the country. This gives us an opportunity for diversification. "While we are very focused and positive in our growth strategy in Jammu and Kashmir and Ladakh, we will also try to diversify our portfolio to the other parts of the country," he added. Chatterjee said there has been substantial growth which has come from the rest of the country. "I am very positive that going forward we will have a balance of growth. We also have a clear visibility of NPAs. The best part is that the NPAs within JK and Ladakh are pretty low and the creation of fresh NPAs is negligible whether it is here or outside. I believe we will be able to bring the NPAs below three per cent this year, if not more," he said. J&K Bank's total deposits increased by 10.24 per cent YoY to Rs 1.48 lakh crore (Rs 1,48,569.46 crore) as on March 31, 2025, compared to Rs 1,34,774.89 crore last year. The Net Advances rose to Rs 1,04,198.72 crore, registering a growth of 11.13 per cent from Rs 93,762.51 crore a year ago. The Bank's CASA Ratio stood at 47.01 per cent, maintaining a healthy share of low-cost deposits in the overall mix.
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Business Standard
23-04-2025
- Business
- Business Standard
Portfolio check: Investors dump this bank stock amid Pahalgam terror attack
J&K Bank share price today: J&K Bank share price tumbled nearly 9 per cent today following a terror attack in Pahalgam, Kashmir, on Tuesday, April 22, 2025. J&K Bank shares declined 8.6 per cent on the BSE in the intraday trade on Wednesday, April 23, and hit a low of ₹103.41 per share. Around 0.70 million shares had changed hands on the stock counter on the stock exchange till 10:30 AM, as against a two-week average volume of 0.52 million shares. Together with the volume on the National Stock Exchange (NSE), 16.10 million shares have changed hands on the J&K Bank counter. Pahalgam Terror Attack: Why are J&K Bank shares falling? J&K Bank shares came under selling pressure on Wednesday after terrorists opened fire at tourists at Pahalgam in Kashmir, in one of the deadliest terror attacks in the valley since the Pulwama Attack in 2019, on Tuesday afternoon. At least 26 people have been killed and several were left injured. ALSO READ | The attack has stoked fears of unrest in the region as searches by the Indian security forces are underway. Besides, the Indian Army killed two terrorists at Sarjeevan, in the Uri Nala region of Jammu and Kashmir's Baramulla district, on Wednesday, foiling their infiltration attempt. "J&K Bank shares saw a knee-jerk reaction on the downside, following the news of a terror attack in Pahalgam. The evolving situation in the region will drive the senitment in the stock over the coming days. The stock may recover with some gap if the situation does not deteriorate further," said Deepak Jasani, a stock market veteran. Meanwhile, Prime Minister Narendra Modi has "strongly condemned" the terror attack in Pahalgam, Jammu and Kashmir. He further vowed that those behind the "heinous" act will be brought to justice. "They will not be spared! Their evil agenda will never succeed. Our resolve to fight terrorism is unshakable and it will get even stronger," he posted on social media platform 'X'. PM Modi will has also returned to India, cutting short his trip to Saudi Arabia, and is scheduled to hold a CCS (Cabinet Committee on Security) meeting later today. J&K Bank latest news The Pahalgam terror attack cut J&K Bank shares' five-day rally. Between April 11 and April 22, J&K Bank shares surged 24.22 per cent on the BSE as against a 5.9-per cent rise in the Sensex index. J&K Bank's market capitalisation has decreased to ₹11,454 crore. The stock hit a 52-week high of ₹147 per share on May 6, 2024, and a 52-week low of ₹82 per share on April 7, 2025. In the March 2025 quarter, Jammu Kashmir Bank recorded a 10.61 per cent year-on-year increase in its Total Business, at ₹2,52,779.14 crore. J&K Bank's total deposits, meanwhile, rose 10.24 per cent Y-o-Y to ₹1.48 trillion in Q4FY25. The bank's gross advances were up 10.32 per cent Y-o-Y to ₹1.06 trillion, and CASA deposits increased 2.6 per cent on year to ₹69,843.5 crore. About J&K Bank Jammu and Kashmir Bank (J&K Bank), a Scheduled Commercial Bank, is headquartered at Srinagar. The bank provides financial services in the Union Territories of Jammu & Kashmir and Ladakh, and is designated by Reserve Bank of India (RBI) as its exclusive agent for carrying out banking business for the Government of Jammu & Kashmir and Ladakh. The bank offers retail credit products, including home, personal loans, education loan, agriculture, trade credit and consumer lending, a number of unique financial products.
