Canara Bank Pension Loan Features
| Canara Bank Pension Loan Interest Rate | 3.40% |
| Canara Bank Pension Loan Processing Fee | 1% |
| Canara Bank Pension Loan Tenure | 36 months |
| Canara Bank Pension Loan Amount Minimum | Rs. 25,000 |
| Canara Bank Pension Loan Amount Max | 14 lacs |
| Canara Bank Family Pension Loan Amount Minimum | 2.5 lacs |
| Canara Bank Family Pension Loan Amount Max. | 5 lacs |
| Canara Bank prepayment | 3% |
| Canara Bank foreclosure | 3% |
Canara Bank Pension Loan Eligibility
For the Canara Bank credit eligibility, it is one of the essential prerequisites that one of your ex-staff constituent who is having an annuity proclamation. It would help if you likewise were a recipient of state government, PSU or Central Government. You should likewise bring home 60% of the month to month annuity in the wake of paying the bank instalments.
Canara 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 |
Canara 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 |
Canara 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 Canara Bank Personal Loan For Pensioners
The financing cost for Canara Bank Pension Loan is less, for example, 3.40% p.a. to complete the requirements of old pensioners in their completion days.
Document Required For Canara Bank Pension Loan
Income proof:- Bank Account Statement and Salary Slips
Identity proof:- Passport, Voter ID card, Pan Card, Driving License, Aadhaar Card. (you can bring any of these)
Address proof: Ration Card, Bank Account Statement, Passport, Driving License, Electricity bills, Property purchase agreement, Aadhaar Card. (you can bring any of these)
Loan Amount On Canara Bank Personal Loan For Pensioners
The least loan amount is Rs 25,000. The highest loan amount and loan tenure depends on the pensioner’s life and the type of pension he/she is picking.
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 Canara Bank
Canara Bank Limited is one of the most extensive public sector banks owned by the Government of India. It is headquartered in Bengaluru. It was founded at Mangalore in 1906 by Ammembal Subba Rao Pai, and later the government nationalized the bank in the year of 1969. The bank also has domains abroad in London, Hong Kong, Moscow, Shanghai, Dubai, Tanzania and New York.
FAQs on Canara Bank Pension Loan
✅ Can you get a loan on a pension?
The Canara Bank Pension Loan is accessible for the Central and State Govt beneficiaries. Defence retired people and family retired people as long as 76 years old.
✅ How much loan can a pensioner get?
The loan amount of individual credit for beneficiaries fluctuates for the various benefits advance suppliers. Canara Bank Pension Loan can profit for the sum Rs 25,000 to Rs 14 lakhs.
✅ What is the pension loan scheme?
Canara Bank Pension Loan scheme embraces the financing needs of Govt, Defense and family pensioners after retirement.
✅ How can you get Canara Bank Pension Loan?
You can apply online through Dialabank or call at 9878981166.
