J&K Bank Mobile Finance Scheme |Now Buy Your Smartphone with easy installments

Introduction: The J&K Bank Smartphone Scheme is an initiative launched by the Jammu and Kashmir Bank to provide smartphones to its customers at a discounted price. The scheme aims to help customers who cannot afford expensive smartphones and to promote digital banking in the region.

Under the scheme, the bank offers a wide range of smartphones from different brands at a discounted price. The customers can choose from the available models and pay the cost of the phone in easy monthly installments. The bank also provides an option of zero down payment for customers who fulfill the eligibility criteria.

To be eligible for the scheme, the customer should have a valid account with J&K Bank and a minimum balance of Rs. 5,000 in their account. The customer should also have a good credit score and should not have defaulted on any loan or credit card payment in the past.

The scheme has been well received by the customers, and it has helped many people to upgrade to smartphones and access digital banking services. It has also helped the bank to increase its customer base and promote cashless transactions.

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


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1.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.

2.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: 10,000.
Maximum Finance: 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

Click rate of interest

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