National Toll Free No1800 425 00 000

IB Pension Loan

IB Pension Loan

Eligibility Central & State Government Pensioners, Family Pensioners, Re-employed Pensioners, IB Retirees (both under VRS & superannuation) whose pension accounts are maintained with our branches

CRS retirees and EPF Pensioners are not eligible for Pension Loan

Age
Regular Pensioner Maximum Entry Age: 75 years

Maximum Exit Age:   78 years

Family Pensioner Maximum Entry Age: 70 years

Maximum Exit Age:   73 years

No specific minimum entry age

Purpose To meet any expenses like Medical, Education, Family & Domestic Functions, Marriage etc
Margin NIL
Quantum of loan
Regular Pensioner Maximum 15 times of monthly pension credit

No cap on minimum & maximum loan amount

Family Pensioner Maximum 12 times of monthly pension credit subject to maximum Loan amount of Rs.2 lakhs

No cap on minimum loan amount

Repayment Period Maximum repayment period up to 10 years subject to exit age criteria
Interest Rate Click here
Processing Fee Click here
Security/Documents required
  • Pensioner’s portion of PPO
  • Authorization to recover monthly loan installment from SB Account where pension is credited
  • Suitable Guarantor as acceptable to Bank
  • Intimation to PPA

( Last modified on Dec 19, 2020 at 06:12:30 PM )