Bangiya Gramin Vikash Bank Final salary Loan Functionality
| Bangiya Gramin Vikash Bank Pension Loan Interest Rate | 3.4% p.a. |
| Bangiya Gramin Vikash Bank Pension Loan Processing Fee | 1% |
| Bangiya Gramin Vikash Bank Pension Loan Tenure | 36 months |
| Bangiya Gramin Vikash Bank Pension Loan Amount Minimum | 25,000 |
| Bangiya Gramin Vikash Bank Pension Loan Amount Max | 14 Lakh |
| Bangiya Gramin Vikash Bank Family Pension Loan Amount Minimum | 2.5 Lakh |
| Bangiya Gramin Vikash Bank Family Pension Loan Amount Max. | 5 Lakh |
| Bangiya Gramin Vikash Bank Prepayment Charges | 3% of the loan amount |
| Bangiya Gramin Vikash Bank Foreclosure Charges | 3% of the loan amount |
Bangiya Gramin Vikash Bank Retirement loan liability
One of the essential requirements for eligibility for the Bangiya Gramin Vikash loan is that you have a pension plan for one of your former employees. You must be a pensioner of the state government, PSU, or central government as well. You would also take home 60% of the monthly pension after paying the bank installments.
Bangiya Gramin Vikash Bank Pensions Loan Specifications for Central and State Government benefit claimants
| Eligibility | Attributes |
| Employer Kind | Central and State Government |
| Applicant’s (Age) | Beneath 76 years of age |
| Account Type | Order of pension payments enforced by the Bank |
| Treasury Terms | Written approval from the treasurer not to consider any demands for a pension transfer |
| Guarantee Conditions | By the spouse (eligible for a relationship pension) or any other third relation |
Bangiya Gramin Vikash Bank Enrollment For Defence Pensioners
| Eligibility Conditions | Key Terms |
| Employer (Type) | Armed Forces, Paramilitary Forces, Coast Guards, Rashtriya Rifles, Assam Rifles |
| Applicant’s (Age) | Down 76 years of age |
| Account Type | Pension payment order was given by Bank |
| Treasury Terms | Not applicable |
| Guarantee Terms | Not applicable |
Bangiya Gramin Vikash Bank Eligible to apply for Household Pensioners
| Eligibility Terms | Key Characters |
| Employer Kind | Central and State Governments including all Armed Forces |
| Applicant’s Age in Years | Below 76 years of age |
| Account Kind | Pension payment order maintained by Bank |
| Treasury Kind | Not applicable |
| Guarantee Terms | Authorized members of the family under the family pension scheme |
Total Number of Qualified Loan and debt payments
For Central and State Government Pensioners:
| Age | Max Loan Quantity(18 months Pension or Less) | Tenure 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 |
Bangiya Gramin Vikash Bank Rate of interest for people on benefits
To fulfill their goals in their final years, people on benefits are issued with a personal loan. This loan would help them with their medical emergencies, financial emergencies, their children’s college expenses, their children’s wedding expenses, house repairs. 11.83 percent is on the kind of personal loan for pensioners.
Bangiya Gramin Vikash Bank Document Required
Identity proof: You are using Aadhar Card, Pan Card, Passport, Driving License for address proof.
Address Verification: Ration Card, Bank Account Statement, Driving License, Utility Bills, Aadhar Card, all of which will serve as proof of address.
Income Proof: As an Income Proof, you have to submit both your bank account statements and salary, both of which are slips for the approval of the loan.
Bangiya Gramin Vikash Bank repayment plan Loan Number For people on benefits
The minimum loan sum to be given to pensioners by Bangiya Gramin Vikash Bank is 25,000. The overall sum for State and Central Government pensioners will be 14 Lakhs, 14 Lakhs for Defence pensioners, 5 Lakhs for Family Pensioners. Please check the table below for more information:
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 Bandiya Gramin Vikash Bank
As the corresponding new RRB, Bangiya Gramin Vikash Bank was established by notification in the Official Gazette of the Govt of India dated 21.02.2007, following the amalgamation of five constituent RRBs, Viz. Mallabhum Gramin Bank, Gaur Gramin Bank, Nadia Gramin Bank, Murshidabad Gramin Bank, and West Bengal Sagar Gramin Bank.
FAQs on Bangiya Gramin Vikash Bank Pension Loan
✅ Who is responsible for deducting Income Tax from the source of the pension payment?
The Pension Paid back deducts the Income Tax and the rates from time to time are prescribed by the Income Tax.
✅ When is the pension credited to the retiree’s account by the Pension Branch?
The pension is credited by Pension Paying Back into the pensioner’s account and all of this is performed on the orders of the Pension Paying Authorities.
✅ If the pensioner has died, will a savings account be maintained for a family pension?
Yes, banks are unable to compel a pensioner’s spouse to open a new account. This should be achieved without opening a new family pension account and the pension should be credited to their current account.
✅ What interest can we get from the Bangiya Gramin Vikash Bank pension loan?
Bangiya Gramin Vikash Bank’s retirement loan interest rate is 3.40 per cent.
