Corporation Bank Pension Loan

⋆ Interest Rate 9.99% ⋆

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        Corporation Bank Pension Loan

        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

        Corporation Bank Pension Loan

         

        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%