Bangiya Gramin Vikash Bank Pension loan

⋆ Interest Rate 9.99% ⋆

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      Table of Contents

      Bangiya Gramin Vikash Bank Pension loan

      Bangiya Gramin Vikash Bank Final salary Loan Functionality 

      Bangiya Gramin Vikash Bank Pension Loan Interest Rate 3.4% p.a.
      Bangiya Gramin Vikash Bank Pension Loan Processing Fee 1%
      Bangiya Gramin Vikash Bank Pension Loan Tenure 36 months
      Bangiya Gramin Vikash Bank Pension Loan Amount Minimum 25,000
      Bangiya Gramin Vikash Bank Pension Loan Amount Max 14 Lakh
      Bangiya Gramin Vikash Bank Family Pension Loan Amount Minimum 2.5 Lakh
      Bangiya Gramin Vikash Bank Family Pension Loan Amount Max. 5 Lakh
      Bangiya Gramin Vikash Bank Prepayment Charges 3% of the loan amount
      Bangiya Gramin Vikash Bank Foreclosure Charges 3% of the loan amount

      Bangiya Gramin Vikash Bank Retirement loan liability 

      One of the essential requirements for eligibility for the Bangiya Gramin Vikash loan is that you have a pension plan for one of your former employees. You must be a pensioner of the state government, PSU, or central government as well. You would also take home 60% of the monthly pension after paying the bank installments.

      Bangiya Gramin Vikash Bank Pensions Loan Specifications for Central and State Government benefit claimants

      Eligibility  Attributes
      Employer Kind Central and State Government
      Applicant’s (Age) Beneath 76 years of age
      Account Type Order of pension payments enforced by the Bank
      Treasury Terms Written approval from the treasurer not to consider any demands for a pension transfer
      Guarantee Conditions By the spouse (eligible for a relationship pension) or any other third relation

      Bangiya Gramin Vikash Bank Enrollment For Defence Pensioners

      Eligibility Conditions Key Terms
      Employer (Type) Armed Forces, Paramilitary Forces, Coast Guards, Rashtriya Rifles, Assam Rifles
      Applicant’s (Age) Down 76 years of age
      Account Type Pension payment order was given by Bank
      Treasury Terms Not applicable
      Guarantee Terms Not applicable

      Bangiya Gramin Vikash Bank Eligible to apply for Household Pensioners

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

      Total Number of Qualified Loan and debt payments

      For Central and State Government Pensioners:

      Age Max Loan Quantity(18 months Pension or Less) Tenure 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

      Bangiya Gramin Vikash Bank Rate of interest for people on benefits 

      To fulfill their goals in their final years, people on benefits are issued with a personal loan. This loan would help them with their medical emergencies, financial emergencies, their children’s college expenses, their children’s wedding expenses, house repairs. 11.83 percent is on the kind of personal loan for pensioners.

      Bangiya Gramin Vikash Bank Document Required 

      Identity proof: You are using Aadhar Card, Pan Card, Passport, Driving License for address proof. 

      Address Verification: Ration Card, Bank Account Statement, Driving License, Utility Bills, Aadhar Card, all of which will serve as proof of address.

      Income Proof: As an Income Proof, you have to submit both your bank account statements and salary, both of which are slips for the approval of the loan.

      Bangiya Gramin Vikash Bank repayment plan Loan Number For people on benefits

      The minimum loan sum to be given to pensioners by Bangiya Gramin Vikash Bank is 25,000. The overall sum for State and Central Government pensioners will be 14 Lakhs, 14 Lakhs for Defence pensioners, 5 Lakhs for Family Pensioners. Please check the table below for more information:

      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

       

      About Bandiya Gramin Vikash Bank

      Bangiya Gramin Vikash Bank Pension Loan

      As the corresponding new RRB, Bangiya Gramin Vikash Bank was established by notification in the Official Gazette of the Govt of India dated 21.02.2007, following the amalgamation of five constituent RRBs, Viz. Mallabhum Gramin Bank, Gaur Gramin Bank, Nadia Gramin Bank, Murshidabad Gramin Bank, and West Bengal Sagar Gramin Bank.

      FAQs on Bangiya Gramin Vikash Bank Pension Loan

      ✅ Who is responsible for deducting Income Tax from the source of the pension payment?

      The Pension Paid back deducts the Income Tax and the rates from time to time are prescribed by the Income Tax.

      ✅ When is the pension credited to the retiree’s account by the Pension Branch?

      The pension is credited by Pension Paying Back into the pensioner’s account and all of this is performed on the orders of the Pension Paying Authorities.

      ✅ If the pensioner has died, will a savings account be maintained for a family pension?

      Yes, banks are unable to compel a pensioner’s spouse to open a new account. This should be achieved without opening a new family pension account and the pension should be credited to their current account.

      ✅ What interest can we get from the Bangiya Gramin Vikash Bank pension loan?

      Bangiya Gramin Vikash Bank’s retirement loan interest rate is 3.40 percent.

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