Citibank Pension Loan Features
| Citibank Pension Loan Interest Rate | 11.83% p.a. |
| Citibank Pension Loan Processing Fee | 1% of the loan amount |
| Citibank 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 |
| Citibank Prepayment Charges | 3% of the loan amount |
| Citibank Foreclosure Charges | 3% of the loan amount |
Citibank Pension Loan Eligibility
For the Citibank loan eligibility, it is a requirement that one of your ex-staff constituents should have a pension statement. Along with that, you must also be a beneficiary of state government, PSU or Central Government. Lastly, you must also take home 60% of the monthly pension after paying the bank payments.
Citibank 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 |
Citibank 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 |
Citibank 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 Citibank Pension Loan
For Central and State Government Pensioners:
| Age | Max Loan Amount (18 months Pension or Less) | Repayment 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 |
Interest Rate On Citibank Personal Loan For Pensioners
The interest rate for Citibank Pension Loan is significantly less, i.e. 3.40% p.a., to fulfil the needs of old pensioners in their post-retirement days.
Document Required For Citibank Pension Loan
Identity proof: Any of the following mentioned–
- Passport
- Voter Identity Card
- Pan Card
- Driving License
- Aadhaar Card
Address proof: Any of the following mentioned–
- Ration Card
- Bank Account Statement
- Passport
- Driving License
- Utility bills
- The property purchase agreement
- Aadhaar Card
Income proof:
- Bank Account Statement
- Salary Slips
Loan Amount On Citibank Personal Loan For Pensioners
The smallest loan amount is Rs 25,000. The highest loan amount and loan tenure depends on the pensioner’s life and the nature of the pension that they are drawing.
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 Citibank
Citibank works endlessly to provide consumers, corporations, governments and institutions with a broad range of financial services and products. They aim to create the best outcomes for their clients with financial insights that lead to solutions that are simple, creative and responsible.
Citibank’s core activities include safeguarding assets, lending money, making payments and accessing the capital markets on behalf of their clients. They have over 100 years of experience helping their clients meet the world’s toughest challenges and embrace its greatest opportunities.
FAQs on Citibank Pension Loan
✅ Can you get a loan on a pension?
The Citibank Pension Loan is available for the Central and State Government pensioners and also Defense and family pensioners who are up to 76 years of age.
✅ How much loan can a pensioner get?
The loan amount of personal loans for pensioners varies as pension loan providers differ. The Citibank Pension Loan can be availed from Rs 25,000 to Rs 14 lakhs.
✅ What is the pension loan scheme?
The Citibank Pension Loan scheme covers the funding needs of Government Defense and family pensioners after their retirement.
✅ At what rate of interest you can get Citibank Pension Loan?
You can get Citibank Pension Loan at a 3.40% p.a. interest rate.
✅ How can you get Citibank Pension Loan?
You can apply online via Dialabank or call at 9878981166.
Pension Loan for Other Banks
