Corporation Bank Pension Loan Features
Corporation Bank Pension Loan Interest Rate | 3.40% |
Corporation Bank Pension Loan Processing Fee | 1% |
Corporation Bank 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 |
Corporation Bank prepayment | 3% |
Corporation Bank foreclosure | 3% |
Corporation Bank Pension Loan Eligibility
For the pension loan eligibility of Corporation Bank. You ex-staff member should have an account in pension. You must have a pension account in PSU, State Government or Central Government. You must be able to save 60% of the pension after paying loan instalment.
Corporation 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 |
Corporation 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 |
Corporation 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 | 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 interest rate is 3.40%. This loan will be your personal loan and can also be used in the following ways:
- Medical emergency
- Financial problem
- Wedding of your children.
You can apply for a loan on Dialabank.
Document Required For Loans For Pensioners
Identity proof: Following documents can be used for verification of identity proof. Anyone of the documents would work.
- Aadhar Card
- Pan Card
- Passport
- Voter Identity Card
Address Proof: Following documents can be used for verification of the address proof. Anyone of the documents would work.
- Ration Card
- Passport
- Utility Bills
- aadhar Card
- Property Purchased documents.
Income Proof: Following documents are required for verification of Income proof. Both documents are necessary.
- Salary slips
- Bank Account Statements
Loan Amount on Bank Personal Loan For Pensioners
The minimum loan amount which will be provided by Corporation Bank to the pensioners is 25,000. The maximum amount is as follows:
- For state and central government pensioners: 14 Lakhs
- Defence pensioners: 14 Lakhs
- Family Pensioners: 5 Lakhs
For more information, please refer to 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 Corporation Bank
It was a public sector bank, and its headquarter was situated in Mangalore. It had a PAN India presence. It had 2,432 fully automated BSE branches, and it also had 3,040 ATM’s. Corporation Bank was founded in 1906 in March and was started in Udupi. It was started with 5,000 capital.
FAQs
✅ What is the loan amount that the Corporation Bank provides?
The minimum loan amount is 25,000.
✅What is the Corporation Bank Pension Loan scheme?
The Corporation Bank 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 Corporation Bank Pension Loan from Dialabank, or you can call us at 9878981166.
✅ At what Interest can we get Loan for Pension in Corporation Bank?
The interest rate provided by the Corporation Bank for pensioners is 3.40%