JK Bank Smartphone Finance Scheme Loan: Check How to Apply

The JK Bank Smartphone Finance Scheme is a loan program offered by Jammu and Kashmir Bank, a state-owned bank in India. The scheme aims to provide affordable financing options for individuals who want to purchase smartphones.

Under this scheme, individuals can apply for a loan of up to Rs. 75,000 to purchase a smartphone of their choice. The loan can be repaid in 12 monthly installments. The interest rate on the loan is 3%, and there are no processing fees.

To be eligible for the JK Bank Smartphone Finance Scheme, individuals must meet the following criteria:

  1. The applicant must be a permanent resident of Jammu and Kashmir.
  2. The applicant must be at least 18 years of age.
  3. The applicant must have a bank account with Jammu and Kashmir Bank.

To apply for the scheme, individuals can visit any Jammu and Kashmir Bank branch and submit the required documents, including proof of identity, proof of address, and proof of income.


  • Term loan.


  • Purchase of Mobile Phones (IOS, Blackberry, Android and Windows based).


  • Permanent Employees/Pensioners of State / Central Government, Government / Semi-Government Undertakings & Autonomous Bodies drawing salary through our Bank and where letter of undertaking from employer is available.
  • Customers already availing seasoned credit facilities (aged more than 2 years) where in there have been no past dues of more than one month during the currency of the loan.


  • Minimum: 21 years.
  • Maximum age of Applicant at loan maturity: For employees Date of retirement or 60 Years whichever is earlier.
  • For others: 65 years.


  • Minimum Finance: JK Bank Smartphone Finance Scheme Loan: Check How to Apply 2 10,000.
  • Maximum Finance: JK Bank Smartphone Finance Scheme Loan: Check How to Apply 2 75,000 or 12 months net income for purchasing upto three Smartphones or 90% of the invoice value of the Smartphone(s) whichever is lower.
  • Maximum finance (in case of individual small businessmen who do not file their tax returns and do not maintain the financial statements) is 10% of the credits in the operative account of the borrower during the last 12 months or 90% of the invoice value of the Smartphone(s), whichever is lower.
  • For Govt. employees gross deductions should not exceed 60% of gross salary while as for others deductions should not exceed 50% of gross income.


  • 10% of the invoice value


  • Primary: NIL
  • Collateral: NIL


  • JK Bank Smartphone Finance Scheme Loan: Check How to Apply 2350/- plus applicable GST


  • 30 Equated Monthly Installments.


  • NIL


  • 1 Year MCLR + 3% (fixed)

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