J&K Bank

Get Your Dream Car With JK Bank’s New Car Loan Scheme, Check Eligibility And Other Details

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Loan Name: JK bank Car loan Scheme for purchase of Fresh cars for private use

Nature: The JK Bank Car Loan Scheme is a term loan, which means that the loan is provided for a specific period of time and is repaid in regular instalments over that period.

Purpose: The primary purpose of this loan scheme is to provide finance for the purchase of new cars, vans, jeeps, SUVs, and MUVs for private use only. The loan can be used to purchase vehicles at ex-showroom prices or on-road prices, wherever opted by Borrower(s), shall mean Ex-Showroom Prices plus: One Time Registration Charges, First Insurance Premium and Cost of Accessories (should be limited to 10% of Ex-Showroom Price).


  • Permanent Employees of State / Central Government, Semi-Government Undertakings, Institutions and Autonomous Bodies
  • Regular Employees of Private Limited Companies / Private Organizations with at least 2 years’ service with current employer
  • Contractual Employees of Central/State Government, Semi-Government Undertakings and Autonomous Bodies (with no instances of termination of employment)
  • Professionals or self-employed individuals with at least 2 years’ experience in business/profession/activity
  • Persons engaged in agricultural and allied activities
  • Pensioners of State/Central/UT Gov’t, PSU’s (Public Sector Undertakings), autonomous bodies and Institutions
  • Employees appointed under SRO 202 (with salary for at least 6 months credited in savings account)
  • Partnership firms and companies which have been in existence for a minimum of 02 years
  • HUF (Hindu Undivided Family)


  • The margin required for the loan varies depending on the applicant’s employment status and banking relationship with JK Bank.
  • For permanent employees of State and Central Government, Government Undertakings & Autonomous bodies Drawing salary through JK Bank, the margin required is 10% of invoice value.
  • For Platinum/Gold Current Account Holders & Customers having aggregate limits (Working Capital and/or Term Loan) above 25 Lakh having satisfactory dealings, the margin required is also 10% of invoice value. For all other applicants, the margin required is 15% of invoice value.


  • The minimum age at the time of loan application is 18 years, while the maximum age at the time of loan maturity is 70 years.
  • However, in case of in service Govt employees under old pension scheme, car loans with tenor exceeding residual services period can also be considered. Additionally, the upper age limit may be relaxed upto 75 years in deserving cases, powers for which may be vested with the Zonal Credit Committee.

Processing Charges: The processing charges for this loan scheme are 0.50% of the loan amount plus applicable GST. The minimum processing charge is Rs.1500/- + GST, while the maximum is Rs.15,000/- + GST. These charges are waived for Govt. Pensioners.

For more details visit your nearest branch

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