State Bank of India Pension Loan

⋆ Interest Rate 9.99% ⋆

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      State Bank of India Pension Loan

      State Bank of India Pension Loan Features

      SBI Pension Loan Interest Rate 3.40%
      SBI Pension Loan Processing Fee 1%
      SBI 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
      SBI prepayment 3%
      SBI foreclosure 3%

      State Bank of India Pension Loan Eligibility

      For the pension loan eligibility of State Bank of India. One of your ex-staff members should hold a pension account. You must be able to save 60% of the pension after paying loan instalment. There should be a pension account of yours in State or Central Government, PSU.

      State Bank of India 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

      State Bank of India 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

      State Bank of India 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 Repayment Period Age at the time of full repayment
      Below 72 Years 14 Lakh 60 Up to 77 Years
      72-74 Years 12 Lakh 48 Up to 78 Years
      74-76 Years 7.5 Lakh 24 Up to 78 Years

      (ii) For Defense Pensioners:

      Age Max Loan Amount Repayment Period Age at the time of full repayment
      below 56 Years 14 Lakh 84  Up to 63 Years 
      56-72 Years 14 Lakh 60 Up to 77 Years
      72-74 Years 12 Lakh 48 Up to 77 Years
      74-76 Years 7.5 Lakh 24 Up to 78 Years

      (ii) For Family Pensioners (including Defense Pensioners) :

      Age  Max Loan Amount Repayment Period Age at the time of full repayment
      Below 72 Years 14 Lakh 60 Up to 77 Years
      72-74 Years 12 Lakh 48 Up to 77 Years
      74-76 Years 7.5 Lakh 24 Up to 78 Years

      Interest Rate Personal Loan For Pensioners

      The Pension Loan interest rate in SBI is 3.40%. This pension loan will help you in the following things:

      • Medical Expenses
      • Travelling expenses
      • Financial condition
      • wedding of your children

      To apply for a loan you can connect with Dialabank.

      Document Required For Loans For Pensioners 

      Identity proof: Identity proof will be recognised by the following documents like Aadhar Card, Pan Card, Passport, Voter Identity Card any of these documents would do the work.

      Address Proof: Address proof can be recognised using Ration Card, Passport, Utility Bills, aadhar Card, Property Purchased documents any of these documents would do the work.

      Income Proof: Salary slips and Bank Account Statements are used for verifying the income proof and in this, both the documents are required. You need to fulfil all the above 3 requirements to get a pension loan.

      Loan Amount on Bank Personal Loan For Pensioners

      The maximum amount of loan provided by the State bank of India for state and central government pensioners and for defence pensioners will be 14 Lakh and for family pensioners, it is 5 Lakh. The minimum loan amount for everyone will be 25,000. The loan tenure will vary accordingly. For more information please refer the below-given table:

      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 State Bank of India

      State Bank of India Pension Loan

       

      It is a multinational public sector bank one of the largest Public Banks of India. It is the world’s 43rd largest banks. It has 23% of the share in the market asset. State B.

      FAQs

      ✅ What is the loan amount that a pensioner can avail?

      The minimum loan amount is 25,000.

      ✅What is State Bank of India Pension Loan scheme?

      The State Bank of India Pension Loan scheme will be providing loan to all those retired people who were involved in Government jobs, defence services or are the spouse of those who are receiving pensions.

      ✅From where can we apply for Pension Loan?

      You can apply for a loan at Dialabank or you can call us at 9878981166.

      ✅ At what Interest can we get Loan for Pension in State Bank of India?

      The interest rate provided by the State Bank of India for pensioners is 3.40%