Andhra Pradesh Grameena Vikas Bank Pension Loan

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        Andhra Pradesh Grameena Vikas Bank Pension Loan

        Andhra Pradesh Grameena Vikas Bank Pension Loan Features

        APGVB Pension Loan Interest Rate 11.83% p.a.
        APGVB Pension Loan Processing Fee 1% of the loan amount
        APGVB Pension Loan Tenure 36 months
        Pension Loan Amount Minimum 25,000
        Pension Loan Amount Max 14 Lakh
        Family Pension Loan Amount Minimum 2.5 Lakh
        Family Pension Loan Amount Max. 5 Lakh
        APGVB Prepayment Charges 3% of the loan amount
        APGVB Foreclosure Charges 3% of the loan amount

        Andhra Pradesh Grameena Vikas Bank Pension Loan Eligibility

        For the Andhra Pradesh Grameena Vikas Bank loan eligibility, it is one of the primary requirements that one of your ex-staff constituents who is having a pension statement. Andhra Pradesh Grameena Vikas Bank Pension Loan

        You must also be a beneficiary of state government, PSU or Central Government. You must also take home 60% of the monthly pension after paying the bank payments.

        Andhra Pradesh Grameena Vikas Bank Pension Loan Eligibility for Central and State Government Pensioners

        Eligibility Criteria Key Features
        Employer Type Central and State Government
        Applicant’s Age Below 76 years of age
        Account Type Pension payment order maintained by Bank
        Treasury Terms Written consent from the treasurer not to accept any pension transfer requests
        Guarantee Terms By the spouse (eligible for a family pension) or any other third party

        Andhra Pradesh Grameena Vikas Bank Pension Loan Eligibility For Defence Pensioners

        Eligibility Criteria Key Features
        Employer Type Armed Forces, Paramilitary Forces, Coast Guards, Rashtriya Rifles, Assam Rifles
        Applicant’s Age Below 76 years of age
        Account Type Pension payment order maintained by Bank
        Treasury Terms Not applicable
        Guarantee Terms Not applicable

        Andhra Pradesh Grameena Vikas Bank Pension Loan Eligibility For Family Pensioners

        Eligibility Criteria Key Features
        Employer Type Central and State Governments including all Armed Forces
        Applicant’s Age Below 76 years of age
        Account Type Pension payment order maintained by Bank
        Treasury Terms Not applicable
        Guarantee Terms Authorised members of the family under the family pension scheme

        Maximum Eligible Loan Amount and repayments

        For Central and State Government Pensioners:

        Age Max Loan Amount (18 months Pension or Less) Repayment Period Age at the time of full Repayment
        Below 72 years ₹ 14.00 Lakh 60 months Up to 77 years
        72 – 74 years ₹ 12.00 Lakh 48 months Up to 78 years
        74 – 76 years ₹ 7.50 Lakh 24 months Up to 78 years

        For Defense Pensioners:

        Age Max Loan Amount (18 months Pension or Less) Repayment Period Age at the time of full Repayment
        Below 56 years ₹ 14.00 Lakh 84 months Up to 63 years
        56 – 72 years ₹ 14.00 Lakh 60 months Up to 77 years
        72 – 74 years ₹ 12.00 Lakh 48 months Up to 78 years
        74 – 76 years ₹ 7.50 Lakh 24 months Up to 78 years

        For Family Pensioners (including Defense Pensioners):

        Age Max Loan Amount (18 months Pension or Less) Repayment Period Age at the time of full Repayment
        Below 72 years ₹ 5.00 Lakh 60 months Up to 77 years
        72 – 74 years ₹ 4.50 Lakh 48 months Up to 78 years
        74 – 76 years ₹ 2.50 Lakh 24 months Up to 78 years

        Interest Rate On Andhra Pradesh Grameena Vikas Bank Personal Loan For Pensioners

        The interest rate for Andhra Pradesh Grameena Vikas Bank Pension Loan is very less i.e. 3.40% p.a. to fulfil the needs of old pensioners in their ending days.

        Document Required For Andhra Pradesh Grameena Vikas Bank Pension Loan

        Identity proof: Any of the following mentioned–

        • Passport
        • Voter Identity Card
        • Pan Card
        • Driving License
        • Aadhaar Card

        Address proof: Any of the following mentioned–

        • Ration Card
        • Bank Account Statement
        • Passport
        • Driving License
        • Utility bills
        • The property purchase agreement
        • Aadhaar Card

        Income proof: 

        • Bank Account Statement
        • Salary Slips

        Loan Amount On Andhra Pradesh Grameena Vikas Bank Personal Loan For Pensioners

        The smallest loan amount is Rs 25,000. The highest loan amount and loan tenure depends on the pensioner’s life and the nature of the pension he/she is drawing.

        For State and Central Government Pensioners:

        Age Minimum Loan Amount Maximum Loan Amount Additional Ceiling Amount Loan Tenure
        Less Than 72 Years 25000 14 Lakh 18 Months Pension 60
        72 to 74 Years 25000 12 Lakh 18 Months Pension 48
        74 to 76 Years 25000 7.5 Lakh 18 Months Pension 24

        For Defence Pensioners:

        Age Minimum Loan Amount Maximum Loan Amount Additional Ceiling Amount Loan Tenure
        Up to 56 Years Rs 25000 14 Lakh 36 Months Pension 84
        Less Than 72 Years Rs 25000 14 Lakh 18 Months Pension 60
        72 to 74 Years Rs 25000 12 Lakh 18 Months Pension 48
        74 to 76 Years Rs 25000 7.5 Lakh 18 Months Pension 24

        For Family Pensioners:

        Age Minimum Loan Amount Maximum Loan Amount Additional Ceiling Amount Loan Tenure
        Less Than 72 Years 25000 5 Lakh 18 Months Pension 60
        72 to 74 Years 25000 4.5 Lakh 18 Months Pension 48
        74 to 76 Years 25000 2.5 Lakh 18 Months Pension 24

        FAQs on Andhra Pradesh Grameena Vikas Bank Pension Loan

        ✅ Can you get a loan on a pension?

        The Andhra Pradesh Grameena Vikas Bank Pension Loan is available for the Central and State Govt pensioners, Defense pensioners and family pensioners up to 76 years of age.

        ✅ How much loan can a pensioner get?

        The loan amount of personal loan for pensioners varies for the different pension loan providers. The Andhra Pradesh Grameena Vikas Bank Pension Loan can be availed for the amount Rs 25,000 to Rs 14 lakhs. 

        ✅ What is the pension loan scheme?

        The Andhra Pradesh Grameena Vikas Bank Pension Loan scheme covers the funding needs of Govt, Defense and family pensioners after their retirement.

        ✅ At what rate of interest you can get Andhra Pradesh Grameena Vikas Bank Pension Loan?

        You can get Andhra Pradesh Grameena Vikas Bank Pension Loan at 3.40% p.a. interest rate. 

        ✅ How can you get Andhra Pradesh Grameena Vikas Bank Pension Loan?

        You can apply online via Dialabank or call at 9878981166

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