Puduvai Bharathiar Grama Bank Pension Loan

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      Table of Contents

      Puduvai Bharathiar Grama Bank Pension Loan

      Puduvai Bharathiar Grama Bank Pension Loan Features

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

      Puduvai Bharathiar Grama Bank Pension Loan Eligibility

      For the Puduvai Bharathiar Grama Bank Pension Loan eligibility, it is a necessary requirement that one of your ex-staff constituent should have a pension statement. Along with that, you must also be a beneficiary of state government, PSU or Central Government. Lastly, you must also take home 60% of the monthly pension after paying the bank payments.

      Puduvai Bharathiar Grama 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

      Puduvai Bharathiar Grama 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

      Puduvai Bharathiar Grama 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 Authorised members of the family under the family pension scheme

      Maximum Eligible Loan Amount and repayments for Puduvai Bharathiar Grama Bank Pension Loan

      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 Puduvai Bharathiar Grama Bank Personal Loan For Pensioners

      The interest rate for Puduvai Bharathiar Grama Bank Pension Loan is very less i.e. 3.40% p.a. in order to fulfil the needs of old pensioners in their post-retirement days.

      Documents Required For Puduvai Bharathiar Grama Bank Pension Loan

      Identity proof: Any of the following mentioned–

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

      Address proof: Any of the following mentioned–

      • 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 Puduvai Bharathiar Grama Bank Personal Loan For Pensioners

      The smallest loan amount is Rs 25,000. The highest loan amount and loan tenure depends on pensioner’s life and the nature of pension that she or he is drawing.

      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

      AboutPuduvai Bharathiar Grama Bank Pension Loan Puduvai Bharathiar Grama Bank 

      Puduvai Bharathiar Grama Bank is sponsored by Indian Bank. It started in the year 2008 by Government of India vide Ministry of Finance. The bank was inaugurated by Mr. P. Chidambaram, who was the Honourable Union Minister of Finance at that time. 

      FAQs on Puduvai Bharathiar Grama Bank Pension Loan

      ✅ Can you get a loan on a pension?

      The Puduvai Bharathiar Grama Bank Pension Loan is available for the Central and State Government pensioners, and also Defense and family pensioners who are up to 76 years of age.

      ✅ How much loan can a pensioner get?

      The loan amount of personal loan for pensioners varies as pension loan providers differ. The Puduvai Bharathiar Grama Bank Pension Loan can be availed from Rs 25,000 to Rs 14 lakhs

      ✅ What is the pension loan scheme?

      The Puduvai Bharathiar Grama Bank Pension Loan scheme covers the funding needs of Government Defense and family pensioners after their retirement.

      ✅ At what rate of interest you can get Puduvai Bharathiar Grama Bank Pension Loan?

      You can get Puduvai Bharathiar Grama Bank Pension Loan at 3.40% p.a. interest rate. 

      ✅ How can you get Puduvai Bharathiar Grama Bank Pension Loan?

      You can apply online via Dialabank or call at 9878981166

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