Dena Bank Pension Loan

Dena Bank Pension Loan Features

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

Dena Bank Pension Loan Eligibility

For the Dena Bank loan eligibility, it is one of the important requirement that one of your ex-staff member who is having a pension account. You must also be a pensioner of state government, PSU or Central Government. You must also take home 60% of the monthly pension after paying the bank instalments.

Dena 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

Dena 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

Dena 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 Dena Personal Loan For Pensioners

The personal loan is provided to pensioners to fulfil their needs in their ending days. This loan will assist them in their medical emergency, financial emergency, education expenses of their children, wedding expenses of their children, house repairs. On such type of personal loan for pensioners is 11.83%.

Document Required For Loans For Pensioners 

Identity proof: For address proof you can use Aadhar Card, Pan Card, Passport, Driving License any of these document would do your work.

Address Proof: Ration Card, Bank Account Statement, Driving License, Utility bills, Aadhar Card any of these would work as an address proof.

Income Proof: As an Income Proof you must show both your bank account statements, as well as salary, slips both of these are must for the loan approval.

Loan Amount on Dena Bank Personal Loan For Pensioners

The minimum loan amount which will be provided by Dena Bank to the pensioners is 25,000. The maximum amount will be 14 Lakhs to state and central government pensioners, 14 Lakhs to Defence pensioners, 5 Lakhs to Family Pensioners. The loan tenure will vary accordingly. For more information please refer 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 Dena Bank

Dena Bank Pension Loan

 

Dena Bank was one of the Public Sector banks. It has 1,874 branches and was headquartered in Mumbai. It is one of the well-known banks. It was founded in 1938 and was nationalized by the government in 1969. It was founded by Devkaran Nanjee.

FAQs

Who is in-charge of deducting Income Tax at source from pension payment?

The Income Tax is deducted by the Pension Paying back and the rates are prescribed by the Income Tax from time to time.

When is the pension credited by the Pension branch to the pensioner’s account?

The Pension is credited in the pensioner’s account by Pension Paying Back and this all is done on the instructions of Pension Paying authorities.

Can a savings account be continued for a family pension if the pensioner has died?

Yes, the banks cannot force the spouse of the pensioner to open a new account. The pension should be credited to their existing account this should be done without opening a new account for family pension.

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

The interest rate for Pension Loan in Dena Bank is 3.40%

✅ How do we apply for a pension loan?

For applying for a loan you can contact Dialabank or you can call at 9878981166.

Capital Small Finance Pension Loan Capital Small Finance Bank Personal Loan Customer Care
Capital Small Finance Bank Personal Loan Customer Care Central Bank Of India Pension Loan
Central Bank of India Personal Loan Customer Care Chhattisgarh Rajya Gramin Bank Pension Loan
Chaitanya Godavari Gramin Bank Pension Loan Citi Bank Personal Loan Customer Care