Corporation Bank Pension Loan

⋆ Interest Rate 9.99% ⋆

      I have read the Privacy Policy & Agree to Terms & Conditions

      Why us?

      Rates as low as 9.99%*
      Loans Up to 30 Lacs
      Same Day Disbursal
      Doorstep Service
      Unbiased Experts Advice

      Corporation Bank Pension Loan

      Corporation Bank Pension Loan Features

      Corporation Bank Pension Loan Interest Rate 3.40%
      Corporation Bank Pension Loan Processing Fee 1%
      Corporation Bank 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
      Corporation Bank prepayment 3%
      Corporation Bank foreclosure 3%

      Corporation Bank Pension Loan Eligibility

      For the pension loan eligibility of Corporation Bank. You ex-staff member should have an account in pension. You must have a pension account in PSU, State Government or Central Government. You must be able to save 60% of the pension after paying loan instalment.

      Corporation 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

      Corporation 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

      Corporation 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 Repayment Period Age at the time of full repayment
      Below 72 Years 14 Lakh 60 Up to 77 Years
      72-74 Years 12 Lakh 48 Up to 78 Years
      74-76 Years 7.5 Lakh 24 Up to 78 Years

      (ii) For Defense Pensioners:

      Age Max Loan Amount Repayment Period Age at the time of full repayment
      below 56 Years 14 Lakh 84  Up to 63 Years 
      56-72 Years 14 Lakh 60 Up to 77 Years
      72-74 Years 12 Lakh 48 Up to 77 Years
      74-76 Years 7.5 Lakh 24 Up to 78 Years

      (ii) For Family Pensioners (including Defense Pensioners) :

      Age  Max Loan Amount Repayment Period Age at the time of full repayment
      Below 72 Years 14 Lakh 60 Up to 77 Years
      72-74 Years 12 Lakh 48 Up to 77 Years
      74-76 Years 7.5 Lakh 24 Up to 78 Years

      Interest Rate Personal Loan For Pensioners

      The interest rate is 3.40%. This loan will be your personal loan and can also be used in the following ways:

      • Medical emergency
      • Financial problem
      • Wedding of your children.

      You can apply for a loan on Dialabank.

      Document Required For Loans For Pensioners 

      Identity proof: Following documents can be used for verification of identity proof. Anyone of the documents would work.

      • Aadhar Card
      • Pan Card
      • Passport
      • Voter Identity Card 

      Address Proof: Following documents can be used for verification of the address proof. Anyone of the documents would work.

      • Ration Card
      • Passport
      • Utility Bills
      • aadhar Card
      • Property Purchased documents.

      Income Proof: Following documents are required for verification of Income proof. Both documents are necessary. 

      • Salary slips
      • Bank Account Statements 

      Loan Amount on Bank Personal Loan For Pensioners

      The minimum loan amount which will be provided by Corporation Bank to the pensioners is 25,000. The maximum amount is as follows:

      • For state and central government pensioners: 14 Lakhs
      • Defence pensioners: 14 Lakhs
      • Family Pensioners: 5 Lakhs

      For more information, please refer to the below-given table:

      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 Corporation Bank

      Corporation Bank Pension Loan

       

      It was a public sector bank, and its headquarter was situated in Mangalore. It had a PAN India presence. It had 2,432 fully automated BSE branches, and it also had 3,040 ATM’s. Corporation Bank was founded in 1906 in March and was started in Udupi. It was started with 5,000 capital.

      FAQs

      ✅ What is the loan amount that the Corporation Bank provides?

      The minimum loan amount is 25,000.

      ✅What is the Corporation Bank Pension Loan scheme?

      The Corporation Bank Pension Loan scheme will be providing loan to all those retired people who were involved in Government jobs, defence services or are the spouse of those who are receiving pensions.

      ✅From where can we apply for Pension Loan?

      You can apply for Corporation Bank Pension Loan from Dialabank, or you can call us at 9878981166.

      ✅ At what Interest can we get Loan for Pension in Corporation Bank?

      The interest rate provided by the Corporation Bank for pensioners is 3.40%