Jammu & Kashmir Bank has revised the interest rates on savings bank deposit account with effect from September 12, 2017, the company informed through a BSE filing.
Domestic/NRO/NRE rupee savings bank deposits current interest rate was at 4% per annum and is being revised to 3.5% per annum.
Meanwhile, the stock gained 2.70% at Rs 81.70 per share on BSE at 1442 hours, attracting a total traded quantity of 0.24 lakh shares. The stock on yearly basis has given 9.59% returns and has underperformed BSE Small cap index and BSE Bankex index.
The BSE Bankex traded higher by 0.43% at 27,921 levels majorly contributed by HDFC Bank and Kotak Mahindra Bank.
The Jammu & Kashmir Bank Limited is engaged in the banking business. The company offers a range of products and services, such as loans, insurance, tax products/planning, savings and deposits, cards, mutual funds and non-resident banking. Its segments include Treasury Operations, Corporate/Whole sale banking, Retail Banking etc.