Shriram City Pension Loan Features
| Shriram City Pension Loan Interest Rate | 11.83% p.a. |
| Shriram City Pension Loan Processing Fee | 1% of the loan amount |
| Shriram City Pension Loan Tenure | 36 months |
| Shriram City Pension Loan Amount Minimum | 25,000 |
| Shriram City Pension Loan Amount Max | 14 Lakh |
| Family Pension Loan Amount Minimum | 2.5 Lakh |
| Family Pension Loan Amount Max. | 5 Lakh |
| Shriram City Prepayment Charges | 3% of the loan amount |
| Shriram City Foreclosure Charges | 3% of the loan amount |
Shriram City Pension Loan Eligibility
For the Shriram City 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.
Shriram City 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 |
Shriram City 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 |
Shriram City 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 Shriram City 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 Shriram City Personal Loan For Pensioners
The interest rate for Shriram City 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.
Document Required For Shriram City 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 Shriram City 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 |
About
Shriram City
Shriram City was established within the year 1986. It’s prominent within the retail financing space, and is among the most important financiers of MSMEs and Two Wheelers within the country. It offers multiple loan products for acquiring assets like commercial vehicles, passenger vehicles and residential loans. Additionally thereto , it offers loan against gold ornaments and for private consumption. The corporate has an all-India presence with nearly 947 branches throughout the country, and a current customer base of about 40.76 Lakh borrowers.
FAQs on Shriram City Pension Loan
✅ Can you get a loan on a pension?
The Shriram City 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 Shriram City Pension Loan can be availed from Rs 25,000 to Rs 14 lakhs.
✅ What is the pension loan scheme?
The Shriram City Pension Loan scheme covers the funding needs of Government Defense and family pensioners after their retirement.
✅ At what rate of interest you can get Shriram City Pension Loan?
You can get Shriram City Pension Loan at 3.40% p.a. interest rate.
✅ How can you get Shriram City Pension Loan?
You can apply online via Dialabank or call at 9878981166
