Jammu and Kashmir Bank Pension Loan Features
| JKB Pension Loan Interest Rate | 10.65% |
| JKB Pension Loan Processing Fee | 1% of the loan amount |
| JKB Pension Loan Tenure | 60 months |
| JKB Pension Loan Amount Minimum | Rs 50,000 |
| JKB Pension Loan Amount Max | Rs 12lakhs |
| JKB Family Pension Loan Amount Minimum | Rs 50,000 |
| JKB Family Pension Loan Amount Max. | Rs 5lakhs |
| JKB prepayment | 3% of the loan amount |
| JKB foreclosure | 3% of the loan amount |
Jammu and Kashmir Bank Pension Loan Eligibility
- The permanent employees of Central & State government or any semi-government undertakings are eligible for Jammu and Kashmir Pension Loan, which is Saral/Saholiat loan for salaried individuals.
- Professionals who have a doctorate or are an architect, engineer, lawyer, or C. A and a self-employed individual can avail of the Saral/ Saholiat Finance Scheme for Professionals at JKB.
- While Pensioners should be of 75 years of age or below having drawn their monthly pension from the bank branch.
- Teachers under Rehabber-a-Taleem, J&K Govt.
Officials under Rehabber-a Zeerat, J&K Govt.
Jammu and Kashmir 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 |
Jammu and Kashmir 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 |
Jammu and Kashmir 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 | Authorized 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 Jammu and Kashmir Bank Pension Loan For Pensioners
Jammu & Kashmir Bank Pension Loan has a low rate of interest 3-year MCLR plus 3%. The current interest rate is 10.65%.
Document Required For Jammu and Kashmir Bank Pension Loan
Banks do not provide a dedicated list of documents required for pension loans, however, genric documents essential are given below:
- Proof of Identity: This may include any one of your Aadhaar Card, Voter ID Card, PAN Card, Passport, Driving License, etc.
- Proof of Address: This may include the latest utility bill (electricity/ telephone bill), bank passbook, Aadhaar Card, etc.
- Proof of Income: This may include your salary slips, bank account statement, profit and loss statement, Income Tax Return, etc.
- Personal loan application form: It should be duly filled and signed.
- Recent passport size colour photographs.
Loan Amount On Jammu and Kashmir Bank Pension Loan For Pensioners
For State and Central Government Pensioners
| Bank Pension Loan | Minimum Loan Amount | Maximum Loan Amount | Additional Ceiling Amount | Loan Tenure(months) |
| Below 65 years Between 65 – 70 years Above 70 years |
Rs 25,000 | RS 10 lakhs RS 5 lakhs RS 2 lakhs |
18 months | 60 48 24 |
Defence Pensioners
| Bank Pension Loan | Minimum Loan Amount | Maximum Loan Amount | Additional Ceiling Amount | Loan Tenure(months) |
| Below 65 years Between 65 – 70 years Above 70 years |
Rs 25,000 | RS 10 lakhs RS 5 lakhs RS 2 lakhs |
18 months | 60 48 24 |
Family Pensioners
| Bank Pension Loan | Minimum Loan Amount | Maximum Loan Amount | Additional Ceiling Amount | Loan Tenure(months) |
| Below 65 years Between 65 – 70 years Above 70 years |
Rs 25,000 | RS 10 lakhs RS 5 lakhs RS 2 lakhs |
18 months | 60 48 24 |
About Jammu and Kashmir Bank
This is a semi-state bank and financial services company established in 1938. In Jammu & Kashmir, it functions as a universal bank while in the rest of India it acts as a specialized bank.
FAQs on Jammu and Kashmir Bank Pension Loan
✅ What is the maximum repayment tenure for the J&K Bank pension loan?
The maximum repayment tenure for J&K Bank personal loan is 7 years. While the maximum age limit is 78 years.
✅ How can I apply and get more information on Pension Loans?
You can call on 9878981166 or can visit Dialabank to get all the necessary details right away.
✅ Does J&K Bank offer personal loans to pensioners?
Yes, under the scheme called Saral/ Saholiat Finance Scheme for Pensioners you can get easy and hassle-free pension loans from J&K Bank.
