Punjab and Sind Bank Pension Loan Features
| Punjab and Sind Pension Loan Interest Rate | 3.40% |
| Punjab and Sind Pension Loan Processing Fee | 1% |
| Punjab and Sind Pension Loan Tenure | 36 months |
| Punjab and Sind Pension Loan Amount Minimum | Rs. 25000 |
| Punjab and Sind Pension Loan Amount Max | 14 lacs |
| Punjab and Sind Family Pension Loan Amount Minimum | 2.5 lacs |
| Punjab and Sind Family Pension Loan Amount Max. | 5 lacs |
| Punjab and Sind prepayment | 3% |
| Punjab and Sind foreclosure | 3% |
Punjab and Sind Bank Pension Loan Eligibility
For Punjab and Sind Bank to be eligible for credit, it is one of the necessary prerequisites that one of the ex-staff constituents has a declaration of the annuity. It would help if you were also a beneficiary of the state government, the PSU, or the central government. You can also carry home 60 per cent of a month’s annuity after you pay your bank instalments.
Punjab and Sind 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 |
Punjab and Sind 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 |
Punjab and Sind 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 Punjab and Sind Bank Personal Loan For Pensioners
The borrowing costs for Punjab and Sind Bank Pension Loan is lower, for example, by 3.40% p.a. completion of the conditions of old pensioners in their days of completion.
Document Required For Punjab and Sind Bank Pension Loan
Income proof:- Bank Account Statement and Income Records
Identity proof:- Passport, Voter ID card, Pan Card, Driving License, Aadhaar Card. (you can carry any of these)
Address proof: Ration Card, Bank Account Statement, Passport, Driving License, Electricity bills, Property purchase agreement, Aadhaar Card. (you can carry any of these)
Loan Amount On Punjab and Sind Bank Personal Loan For Pensioners
The minimum amount of the loan is Rs 25.000. The maximum amount of loan is 14 lacs and the period of the loan depends on the life of the pensioner and the form of pension that they prefer.
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 Punjab and Sind Bank
Punjab & Sind Bank is a government-owned bank (80.28%) headquartered in New Delhi. The bank holds an overall of 1559 offices widely expanded across India, out of which 623 offices are in Punjab state.
FAQs on Punjab and Sind Bank Pension Loan
✅ Can you get a loan on a pension?
The Punjab and Sind Bank Pension Loan is convenient for the Central and State Govt beneficiaries. Defence retired people and family retired people as long as 76 years old.
✅ How much loan can a pensioner get?
The loan amount of individual credit for beneficiaries fluctuates for the various benefits advance suppliers. Punjab and Sind Bank Pension Loan can profit for the sum Rs 25,000 to Rs 14 lakhs.
✅ What is the pension loan scheme?
Punjab and Sind Bank Pension Loan scheme comprises the funding demands of Govt, Defense and family pensioners after the retirement.
✅ How can you get Punjab and Sind Bank Pension Loan?
You can apply online by Dialabank, or you can call 9878981166
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