Madhyanchal Gramin Bank Pension Loan

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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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