L And T Finance Pension Loan

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L And T Finance Pension Loan Features

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

L&T Finance Pension Loan Eligibility

To register, if necessary, for a pension loan:

  • You’d like to learn from one of the former members of the team who has a pension plan.
  • In a PSU, a centralized bank, a state administration, you can hold a pension account.
  • You must be able to save 60 percent of the pension after taking out the loan payment.

L&T Finance Pension Loan Eligibility For Central And State Government For Retirees

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

L&T Finance 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

L&T Finance 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 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

3.40 percent is the L&T Finance Pension loan interest rate. In order to improve your financial standing for your critical illness, this personal loan is for personal expenses. On Dialabank, you might file for a debt.

Document Required For Loans For Pensioners 

Identity proof:

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

Address Proof: 

  • Ration Card
  • Property Purchased documents 
  • Passport
  • Aadhar Card
  • Utility Bills

Income Proof: 

  • Salary slips
  • Bank Account Statements

Loan Amount on Bank Personal Loan For Pensioners

For each pension category, the basic original loan will be 25,000, but the total loan amount will appear to differ by category, like retired pensioners from the state and central government, and security pensioners may benefit from up to 14 lakh loans, while family pensioners may benefit from up to 5 lakh.

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 L&T Finance

L&T Financial Pension Loan

The non-banking financial institution-core investment firm is L&T Finance Holdings Limited. The segments of the Business include Retail and Mid Market Finance, consisting of financing of rural goods, financing of personal vehicles, microfinance, housing finance, financing of commercial vehicles, financing of construction equipment, loans and leases and loans against shares; Wholesale Finance, consisting of project financing and non-project corporate finance for infra and non-infra segments through power-therm segments;

FAQs

✅ What is the amount of credit that is financed by a pensioner?

The minimum loan sum to be used by a pensioner is 25,000 and the amount will depend on which category the person falls into.

✅What’s an L&T Finance Pension mortgage loan?

Loans to all pensioners who have been involved in government positions, security forces, or who are spouses of pension recipients will be issued through the L&T Finance Pension bank loan.

✅Where do we look for a retirement loan?

You may call for L&T Finance Pension Loan from Dialabank or you can dial us at 9878981166.

✅ What incentives will the Bandhan Bank Pension Loan offer us?

L&T Finance’s interest rate offered to pensioners is 3.40 percent.

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