Jammu and Kashmir Bank provides personal loans for multiple purposes depending on the type of applicant. These loans are term loans and can be applied by eligible applicants through online or offline modes.


The personal loans of Jammu and Kashmir Bank are under the flagship name of Saholiat/Saral Finance Scheme and Consumer Loans. The various forms of personal loans available under this scheme are discussed hereunder.


Saholiat/Saral Finance Scheme for Employees

This is a personal loan designed specifically for salaried employees. This loan can be availed for meeting the personal expenses or personal needs of the employees that draw a salary from any of the eligible organizations. The eligible applicants for this type of personal loan are listed below.


The applicant has to be a permanent employee of any of the following organizations:

  • Central Government
  • State Government
  • Public Sector Undertakings
  • Autonomous Bodies
  • Autonomous Institutions

Apart from this, the applicants have to meet the age criterion set by the bank. The bank requires the applicants to be of minimum 21 years of age and maximum of 60 years of age or till the time of retirement whichever is earlier. Applicants maintaining the salary account with the bank or any other bank are eligible for this loan.


  • Saholiat/Saral Finance Scheme for Professionals

This is a personal loan scheme that is specific to the professionals like doctors, CAs, Architects, Lawyers, etc. the main criterion to be eligible for personal loan under this category is for the applicant to be a professional who is self-employed and the source of their income is their profession.


  • The applicant has to be of minimum 21 years of age and a maximum of 70 years of age to be eligible under this loan scheme.
  • Maintaining the account with the bank is not mandatory to be eligible for a personal loan under this category.
  • Maintaining the account with the bank is not mandatory to be eligible for a personal loan under this category.
  • Saholiat/Saral Finance Scheme for Pensioners.

As the name suggests, this scheme of personal loan is for the persons whose source of income is the pension earned through their employment in eligible entities. The eligibility criterion for this scheme of personal loan is twofold. The details of eligibility for this scheme are mentioned below.

  • The applicant has to receive his/her pension through the Central Government or State Government
  • The applicant has to receive the pension in an account held with any branch of Jammu and Kashmir Bank.
  • This criterion is applicable in case of family pensioners as well.
  • Saholiat/Saral Finance Scheme for Businessmen

This is another form of personal loan that caters specifically to businessmen. The bank has set specific eligibility criteria for applicants to be eligible for personal loans under this category. The details of the same are discussed below,

  • The applicant has to be existing borrowers that have a satisfactory relationship of a minimum of 3 years with the bank
  • The applicant has to avail of banking facilities in the nature of cash credit or secured overdraft or term loans
  • This loan is also available for Platinum and Gold current Account holders provided they meet the following conditions set by the Bank.
  • Minimum relationship with the bank of 1 year.
  • Maximum 2 penalties allowed for non-compliance in maintaining the AMB during the period mentioned above.
  • Consumer Loans

The consumer loans of the bank, as the name suggests, is the loan that can be applied for purchase of any goods for personal use. The scheme expressly prohibits the loan to be sanctioned for purchase of eligible goods for commercial purposes. The list of eligible goods are mentioned below,

  • TV (LCD, LED, 3D etc.)
  • Refrigerators and deep freezers
  • Washing Machines
  • Home theatre and music systems
  • Vacuum Cleaners
  • Water Purifiers
  • Geysers
  • AC (Split as well as Window)
  • Heating Equipments ( Electric Heaters including Oil fired Heaters, LPG Heaters/ Bukhari)

  • Generators (only non-kerosene)
  • Inverter Complete Kit
  • Inverter Batteries
  • Furniture (Steel & Wooden)
  • Cooking Range ETC
  • The eligibility criteria set by the bank for this loan are mentioned hereunder.
  • The eligible applicants can be, 
  • Permanent employees of,
  • Central Government
  • State Government
  • Public Sector Undertakings
  • Autonomous Bodies
  • Contractual employees of following entities provided the current contractual job is from the past 1 years and the balance contract period is longer than the proposed tenure of the loan.

  • Central Government
  • State Government
  • Government or Semi-Government Undertakings
  • Autonomous Bodies
  • Teachers under Rehabber-a-Taleem, J&K Government
  • Officials under Rehabber-a Zeerat, J&K Government
  • Pensioners receiving a pension from State/Central and having pension account with the bank
  • Employees of the following entities having a minimum 1-year relationship with the bank
  • Private Limited Companies
  • Private Organizations
  • Reputed Establishments
  • Professionals having a minimum 1-year relationship with our bank.

  • self-employed individuals (Businessmen included) having a minimum 1-year relationship with our bank
  • Proprietorship Concerns having a minimum 1-year relationship with our bank
  • Regular teachers of recognized private schools who are permanent residents of Union Territory of Jammu and Kashmir and Ladakh
  • It is to be noted that the personal loan under this scheme cannot be sanctioned to employees that are employed on an ad-hoc basis.

Apart from the above criterion, the applicants must also meet the age requirements set by the bank for this loan. The bank requires the applicants to be of minimum 21 years of age. The maximum applicable age for this loan is,

  • Employees – one month before retirement
  • Pensioners – 70 years at the time of maturity of the loan
  • Others – 65 years at the time of maturity of the loan

What is a personal loan eligibility calculator?

Jammu and Kashmir Bank has set specific guidelines to be eligible for the personal loans of the bank for each segment of the loan. The Bank also enables the applicants to get an estimate of the loan that can be sanctioned to them in the personal loan segment. This feature of the bank is known as the Loan Eligibility Calculator. This feature of the bank lets the customers get a fair estimate of their loan eligibility which in turn helps them to plan their expenses or financial requirement well in advance.


The loan eligibility calculator of Jammu and Kashmir Bank is available on the website of the bank under the following link.

Home>> Tool/ Calculators

This feature of the Bank is broadly calculated based on two categories of applicants namely, the salaried applicant and self-employed applicants.

Applicants will have to click on the link given above to calculate their estimated eligibility for Personal Loan.


After clicking on the above link, the applicant will be taken to a new page where he/she will have to click on the link for eligibility calculator depending on the category they belong to i.e. salaried or self-employed.

If the applicant belongs to the salaried class, the inputs required to calculate the loan eligibility are:


  • Monthly Income of the Applicant
  • Tenure/ Duration
  • Interest Rate
  • If the applicant is self-employed/ business person, the inputs required to calculate the loan eligibility are, Average Income from Business or Profession over past 3 years.
  • Average Depreciation claimed over the past 3 years.
  • Other Taxable Income received on a regular basis.
  • Other Exempt Income received on a regular basis.
  • Duration/ Tenure.
  • Rate of Interest.

After providing the inputs mentioned above in each case, the applicants can get a fair estimate of their personal loan eligibility based on certain basic assumptions. Applicants are advised to contact the bank personally to determine their exact eligibility for personal loans of the Bank.

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