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 Bank
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.
