Maharashtra Gramin Bank Pension Loan

⋆ Interest Rate 9.99% ⋆

Check Special Offers During COVID-19

      I have read the Privacy Policy & Agree to Terms & Conditions and authorize Dialabank & its partner institutions to Call or SMS me with reference to my application.

      Why us?

      Rates as low as 9.99%*
      Loans Up to 30 Lacs
      Same Day Disbursal
      Doorstep Service
      Unbiased Experts Advice

      Table of Contents

      Maharashtra Gramin Bank Pension Loan

      Maharashtra Gramin Bank Pension Loan Features

      MGB Pension Loan Interest Rate 9.99% p.a.
      MGB Pension Loan Processing Fee 1% of the loan amount
      MGB Pension Loan Tenure 36 months
      Pension Loan Amount Minimum 25,000
      Pension Loan Amount Max 14 Lakh
      Family Pension Loan Amount Minimum 2.5 Lakh
      Family Pension Loan Amount Max. 5 Lakh
      MGB Prepayment Charges 3% of the loan amount
      MGB Foreclosure Charges 3% of the loan amount

      Maharashtra Gramin Bank Pension Loan Eligibility

      To be eligible for applying for the pension loan the borrower must draw his monthly pension from the bank and must save up to 60% of the amount after paying loan installments. 

      Maharashtra 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

      Maharashtra 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

      Maharashtra 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 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 (18 months Pension or Less) Repayment 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 Maharashtra Gramin Bank Personal Loan For Pensioners

      The bank has a minimal interest rate of 10%. 

      Document Required For Maharashtra Gramin Bank Pension Loan

      Identity proof: Any of the following specified–

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

      Address proof: Any of the following specified–

      • 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 Maharashtra Gramin 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

      AboutMaharashtra Gramin Bank Pension Loan Maharashtra Gramin Bank

      It is an Indian regional rural bank with its headquarters in Maharashtra. It is supported by the Government of India to help the rural area of the country to grow.  

      FAQs on Maharashtra Gramin Bank Pension Loan

      ✅ What is the pension loan scheme?

      The Maharashtra Gramin Bank Pension Loan plan covers the funding needs of Govt, Defense, and family pensioners after their departure.

      ✅ How can you get Maharashtra Gramin Bank Pension Loan?

      You can approach online via Dialabank or call at 9878981166

      Indiabulls Personal Loan Customer Care Indiabulls Pension loan
      Indian Overseas Bank Personal Loan Customer Care Indian Bank Pension Loan
      ING Vyasa Bank Personal Loan Customer Care Janata Sahakari Bank Limited Personal Loan Customer Care
      Jammu and Kashmir Bank Pension Loan Jammu And Kashmir Grameen Bank Pension Loan