Madhyanchal Gramin Bank Pension Loan

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      Table of Contents

      Madhyanchal Gramin Bank Pension Loan

      Madhyanchal Gramin Bank Pension Loan Features

      Madhyanchal Gramin Bank Pension Loan Interest Rate 11.83% p.a.
      Madhyanchal Gramin Bank Pension Loan Processing Fee 1%
      Madhyanchal Gramin Bank Pension Loan Tenure 36 months
      Madhyanchal Gramin Bank Pension Loan Amount Minimum 25,000
      Madhyanchal Gramin Bank Pension Loan Amount Max 14 Lakh
      Madhyanchal Gramin Bank Family Pension Loan Amount Minimum 2.5 Lakh
      Madhyanchal Gramin Bank Family Pension Loan Amount Max. 5 Lakh
      Madhyanchal Gramin Bank Prepayment Charges 3% of the loan amount
      Madhyanchal Gramin Bank Foreclosure Charges 3% of the loan amount

      Madhyanchal Gramin Bank Pension Loan Eligibility

      That is one of the main factors for the Madhyanchal Gramin Bank loan to be eligible to become one of the ex-staff members who seem to have a retirement statement. You would have to be a recipient of the state, PSU, or central government security apparatus. You can also bring home 60 per cent of the retirement income after making the bank fees.

      Requirements for Central and State Government Pensioners by Madhyanchal Gramin Bank Pension Loan

      Eligibility  Attributes
      Employer Kind Central and State Government
      Applicant’s (Age) Beneath 76 years of age
      Account Type Order of pension payments enforced by the Bank
      Treasury Terms Written approval from the treasurer not to consider any demands for a pension transfer
      Guarantee Conditions By the spouse (eligible for a relationship pension) or any other third relation

      Madhyanchal Gramin Bank Pension Loan Eligibility For Defence Pensioners

      Eligibility Conditions Key Terms
      Employer (Type) Armed Forces, Paramilitary Forces, Coast Guards, Rashtriya Rifles, Assam Rifles
      Applicant’s (Age) Down 76 years of age
      Account Type Pension payment order was given by Bank
      Treasury Terms Not applicable
      Guarantee Terms Not applicable

      Madhyanchal Gramin Bank Pension Loan Eligibility For Family Pensioners

      Eligibility Terms Key Characters
      Employer Kind Central and State Governments including all Armed Forces
      Applicant’s Age in Years Below 76 years of age
      Account Kind Pension payment order maintained by Bank
      Treasury Kind Not applicable
      Guarantee Terms Authorized members of the family under the family pension scheme

      Maximal Eligible Loan Amount and repayments

      For Central and State Government Pensioners:

      Age Max Loan Quantity(18 months Pension or Less) Tenure 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 Madhyanchal Gramin Bank Personal Loan For Pensioners

      The loan amount of Madhyanchal Gramin Bank Benefit Loan is also much smaller, i.e. 3.40 % p.a. In the final months, to fulfill the care needs of older citizens.

      Document Required For Madhyanchal Gramin Bank Pension Loan

      Identity proof:

      • Passport
      • Pan Card
      • Driving License
      • Voter Identity Card
      • Aadhaar Card

      Address proof: 

      • Ration Card
      • Bank Account Statement
      • Passport
      • Driving License
      • Utility bills
      • The property purchase agreement
      • Aadhaar Card

      Income proof: 

      • Bank Account Statement
      • Salary Slips

      Loan Amount On Madhyanchal Gramin Bank Personal Loan For Pensioners

      The lowest borrowing amount is Rs 25,000. The overall amount of debt and the duration of the mortgage are based on the retiree’s age and also the type of benefit he or she earns.

      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 Madhyanchal Gramin BankMadhyanchal Gramin Bank Pension Loan

      Madhyanchal Gramin state bank of India is a small regional bank. It was founded by combining three rural institutions, Madhya Bharat Bank, Sharda Grameen Bank, Rewa Sidhi Grameen Bank, supported by reserve bank of India, Allahabad Bank or Union Bank of India, throughout the state of Madhya Pradesh in central India.

      FAQs on Madhyanchal Gramin Bank Pension Loan

      ✅ Can you get a loan on a pension?

      The Madhyanchal Gramin Bank Employment Loan is eligible for the commonwealth and local individuals on compensation, cash retirees, and family individuals on benefits up to 76 years of age and older.

      ✅ How much loan can a pensioner get?

      For the various providers of pension loans, the loan amount for personal loans to pensioners varies. The Madhyanchal Gramin Money Pensions Loan could be used for a combination of Rs 25,000 from Rs 14 lakhs.

      ✅ What is the pension loan scheme?

      The Retirement type of loan of the Madhyanchal Gramin Bank covers the fund requirements of community benefit claimants, security people on benefits and family benefit claimants after retirement.

      ✅ At what rate of interest you can get Madhyanchal Gramin Bank Pension Loan?

      At 3.40 % annum., Madhyanchal Gramin Bank Retirement Mortgage can be bought. Interest rate.

      ✅ How can you get Madhyanchal Gramin Bank Pension Loan?

      You can apply online via Dialabank or call at 9878981166.

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