The Jammu & Kashmir bank was established in 1938 under the letters patent issued by the Hari Singh who was the Maharaja of Kashmir at that time. Most of the investors were from Kashmir only and holds major shareholdings in the bank. It comes as a semi state bank but in 1939 it gets the status as scheduled bank under the Indian companys act of 1956. In 1976 the bank was declared as A class. Now it works under the Reserve bank of India and SEBI and become a member of National Stock Exchange and the Bombay Stock Exchange. The bank is increasing their branches all over the country and currently has around 500 branches which are serving their customers. The bank has crossed the billion dollar profits.
The Jammu & Kashmir bank comes with different products which are very useful for its customers and offers best services with dedication and commitment. It has 24 hours online services. The bank provides different accounts savings and give high interest rates on deposits. You can open Savings account, Current account, Personal account, Pension savings account etc. It also comes with different banking services like Internet banking, SMS banking, ATM services, Support services, Third Party services etc. The bank offers RTGS and NEFT payment services which are the method of Reserve Bank of India. The best part of this service is that you can save your time and cost by transferring your money easily to your respective accounts.
The Jammu & Kashmir bank has made agreement with different insurance company like MetLife India, Bajaj Allianz, M. Pallonji and other private investors. The bank offers to its customers to get tax benefits by investing in long term deposits in their bank. The bank provide different loan schemes like home loan, education loan and consumer loans and provides 1 percent of interest discount. The Jammu & Kashmir bank offers three types of credit cards: Gold card, Silver card and Blue card. All the credit cards have photo features. You can use this credit card and get some discount on every purchase. The bank also helps in supporting tourism in Kashmir. It helps the tourists by providing registration offices and mobile branches across the holy place in Kashmir.