Punjab National 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 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
The Interest Rate on Punjab National Bank Personal Loan for Pensioners
The interest rate is considerably less for pensioners, TL/DL: BR+2.50% Overdraft: BR+2.50%. There is documentation charges of 500/- plus GST.
Loan Products
Parameters
Less than 3 years
3 years and above
Pension loan
Demand loan/ Term loan
Base Rate + 2.50% = 11.75%
Base Rate + 2% + Term Premium = 11.75%
Overdraft
Base Rate + 2.50% = 11.75%
Base Rate + 2% + Term Premium = 11.75%
Document Required For Loans For Pensioners
Various documents are required depending on the loan amount, tenure, and other factors. However, the generic documents needed for the loan are :
An original document showing your contribution to PPO. It should be retained until the liquidation of the loan account.
DPDO pensioners also need to provide a copy of the letter of authority, The letter is sent to the DPDO by registered post with information about the disbursement of the loan amount to the concerned pensioner.
An affidavit may be obtained by pensioners stating that they will not change their present disbursing branch or bank without the bank’s consent.
Guarantee form (PNB 58 H).
Additionally, the following documents are required for demand loans, term loans, and overdraft pension loans from PNB.
Identity proof: an Aadhar card, Pan Card, Voter Identity Card, Driving License any of these would work as proof.
Address Proof: Ration Card, Bank Account Statement, Driving License, Utility bills, Aadhar Card any of these would work as an address proof.
Income Proof: both your bank account statements, as well as salary, slips both of these are must for the loan approval.
Loan Amount On Punjab National Bank Personal Loan For Pensioners
For Central and State Government Pensioners:
Punjab National Bank Pension 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 Defense Pensioners:
Punjab National Bank Pension For Defence Pensioners
Age
Minimum Loan Amount
Maximum Loan Amount
Additional Ceiling Amount
Loan Tenure
Up to 56 Years
25000
14 Lakh
36 Months Pension
84
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 Family Pensioners (including Defense Pensioners) :
Punjab National Bank Pension 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 National Bank
Punjab National Bank is one of the top financial service banks owned by the Government with its headquarters in New Delhi. It was founded by Lala Lajpat Rai and Dyal Singh Majithia in 1894. It has now become the second-largest public sector bank in India.
FAQs On Punjab National Bank Pension Loan
✅ Can you get a pension loan without guarantee or security?
At PNB guarantee of a spouse or a family member or against earning children or third party guarantee 9 preferable government employees with a net equal to or more than the loan amount is essential.
✅ What is the repayment procedure for Punjab National Bank Pension Loan?
In PNB a maximum of 60 EMIs is set for repayment of the loan. If the age of the pensioner is above 75 years then the EMIs are fixed at 24. Repayment amounts should be fixed in such a way that they should not exceed the structured ceiling of 50% of the net monthly Pension.
✅ How can you get Punjab National Bank Pension Loan?
