• Deposit Amount   Rs 25,000/- and above in multiples of Rs 1000/- as core deposit .
  • Tenure                      
    • Core Deposit: 1 yr to 10 years.
    • Linked Deposits: 180 days.
  • Dual account
    The product consists of a core deposit(Term Deposit), which entitles the operative account(CD or SB) of the customer for sweep facility , where balance above a floor level is auto-swept to form short term Smart Saver Term deposits(linked deposits) .
  • Minimum floor  balance of operative account   

    Savings 
    Rs 5000/-.
    Current  
    • Individuals, HUF, Sole Proprietorships & Partnerships (other than Limited Liability Partnerships): Rs 25,000/-.
    • Limited Companies & Limited Liability partnerships : Rs 1.00 lac.
  • Auto sweep         Beyond a threshold minimum balance (minimum floor balance) in the operative account, the amount is auto swept to form a new term deposit/series of term deposits
  • Reverse sweep Balances in the linked Smart Saver Term Deposits (not the Core Deposit) shall be available for clearing of debit instruments (cheques, standing instructions, ATM transactions, etc) in case the balance in the operative account is not sufficient for clearing the instrument.
  • Individuals, singly or joint, and HUF (Hindu Undivided Families) shall be eligible to open Smart Saver accounts linked with saving accounts.
  • Individuals, Sole Proprietorship, HUF, partnership firms and limited companies shall be allowed to open smart saver account linked with current accounts.
  • Application Form
  • Photograph (2 copies)
  • Documents as  per KYC Norms
  • Any other document concerning HUFs, Firms, Companies, etc.
  • Who can open an account under Smart Saver Deposit Scheme of J&K Bank?
    Accounts under this scheme can be opened by:
    • Individuals, singly or joint, and HUF (Hindu Undivided Families) shall be eligible to open Smart Saver accounts linked with saving accounts.
    • Individuals, Sole Proprietorship, HUF, partnership firms and limited companies shall be allowed to open smart saver account linked with current accounts.
  • What is the minimum amount required for opening an account under this Scheme?
    You can open an account under this scheme with an amount of Rs 1000 and its multiples thereafter.
  • What are the tenures for which the accounts can be opened?
    You can open an account for the following tenures:
    • Core Deposit: 1 yr to 10 years.
    • Linked Deposits: 180 days.
  • What are the value additions of this scheme?
    The product provides both liquidity as well as high returns through Auto Sweep and Reverse Sweep.
  • What is Auto Sweep?
    Under Auto Sweep, the amount in the operative account beyond a threshold minimum balance (minimum floor balance) is auto swept to form linked term deposits
  • What is Reverse Sweep?
    Under this facility, the deposit amount in the linked Smart Saver Term Deposits (not the Core Deposit) is available for clearing of debit instruments (cheques, standing instructions, ATM transactions, etc) in case the balance in the operative account is not sufficient.