Kerala Gramin Bank Pension Loan

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      Table of Contents

      Kerala Gramin Bank Pension Loan

      Kerala Gramin Bank Pension Loan Features

      KGB Pension Loan Interest Rate 3.40%
      KGB Pension Loan Processing Fee 1%
      KGB Pension Loan Tenure 36 Months
      KGB Pension Loan Amount Minimum 25,000
      KGB Pension Loan Amount Max 14 Lakh
      KGB Family Pension Loan Amount Minimum 2.5 Lakh
      KGB Family Pension Loan Amount Max. 5 Lakh
      KGB prepayment 3%
      KGB foreclosure 3%

      Kerala Gramin Bank Pension Loan Eligibility

      One of the essential perquisites of Kerala Gramin Bank pension loans for pensioners is that they should draw their monthly pension from one of the branches of the bank. You must be a pension account holder in Central Government, PSU, or State Government. You must be able to save 60% of the pension after paying the loan installment.

      Kerala Gramin 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

      Kerala Gramin 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

      Kerala Gramin 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

      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

      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 in Kerala Gramin Bank Pension loan is 3.40%. This loan will help you in a medical emergency or financial problem, or for the wedding of your children. You can apply for a loan on Dialabank.

      Document Required For Loans For Pensioners

      • Identity proof (any of the following): Passport, Pension Payment Number, PAN Card, Employee ID Card, etc.
      • address proof (any of the following): Telephone Bill, Electricity Bill, Ration Card, etc.
      • income proof: Bank account statements, etc.

      Proof of out-goings: 

      • LIC policy, loan repayment statement, valid proof of any other outgoings
      • PAN Card
      • Last 12 months bank statement

      Loan Amount on Bank Personal Loan For Pensioners

      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 Kerala Gramin Bank Kerala Gramin Bank Pension Loan

      Kerala Gramin Bank has its head office at Malappuram in Kerala. This regional rural bank was formed by amalgamating North Malabar Gramin Bank and South Malabar Gramin Bank. It was founded in 2013. 

      FAQs on Kerala Gramin Bank Pension Loan

      What is the tenure to repay the Kerala Gramin Pension Loan?

      The repayment tenure for Kerala Gramin Pension Loan as follows:

      For borrower’s age up to 70 years 5 years
      For borrower’s age above 70 years 3 years

      ✅How much time does it take to process a pension loan?

      It takes around 7 days to process the loan after documents verified. 

      ✅Do I need a guarantee to get a pension loan at Kerala Gramin Bank?

      No, in most cases you need not require a third-party guarantee. However, security is unavailable then the spouse can give the guarantee. 

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