J&K Bank Clarifies Loan EMI Date Revision Amid Social Media Concerns
J&K Bank Revises EMI Due Date, Clarifies on Social Media Buzz
Srinagar, May 4: Addressing concerns raised on social media about the early deduction of loan instalments, Jammu and Kashmir Bank has clarified that the change affects only a specific loan scheme and is intended to support borrowers’ credit well-being.
In its official statement, the bank explained that the EMI due date for the particular loan scheme has been shifted from the end of the month to the 3rd of each month, starting from May 2025. This adjustment is aimed at helping customers maintain a positive credit history and protect their CIBIL scores.
“We understand that this change may impact monthly budget planning for our esteemed customers,” the statement reads.
The bank added that it has addressed the issue by notifying affected customers through SMS communication.
J&K Bank reaffirmed its commitment to the financial stability and well-being of its customers and urged the public not to fall prey to misinformation spreading online.
The clarification comes amid a wave of reactions on social media, where customers had expressed concerns over unnotified EMI deductions. (KNS)
