Dena Bank Pension Loan Features
| Dena Bank Pension Loan Interest Rate | 3.40% |
| Dena Bank Pension Loan Processing Fee | 1% |
| Dena 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 |
| Dena Bank prepayment | 3% |
| Dena Bank foreclosure | 3% |
Dena Bank Pension Loan Eligibility
For the Dena Bank loan eligibility, it is one of the important requirements that one of your ex-staff members who is having a pension account. You must also be a pensioner of state government, PSU or Central Government. You must also take home 60% of the monthly pension after paying the bank instalments.
Dena 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 |
Dena 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 |
Dena 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 Dena Personal Loan For Pensioners
The personal loan is provided to pensioners to fulfil their needs in their ending days. This loan will assist them in their medical emergency, financial emergency, education expenses of their children, wedding expenses of their children, house repairs. On such type of personal loan for pensioners is 11.83%.
Document Required For Loans For Pensioners
- Identity proof: For address proof you can use Aadhar Card, Pan Card, Passport, Driving License any of these documents would do your work.
- Address Proof: Ration Card, Bank Account Statement, Driving License, Utility bills, Aadhar Card any of these would work as an address proof.
- Income Proof: As Income Proof you must show both your bank account statements, as well as salary, slips both of these are a must for the loan approval.
Loan Amount on Dena Bank Personal Loan For Pensioners
The minimum loan amount which will be provided by Dena Bank to the pensioners is 25,000. The maximum amount will be 14 Lakhs to state and central government pensioners, 14 Lakhs to Defence pensioners, 5 Lakhs to Family Pensioners. The loan tenure will vary accordingly. 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 Dena Bank
Dena Bank was one of the Public Sector banks. It has 1,874 branches and was headquartered in Mumbai. It is one of the well-known banks. It was founded in 1938 and was nationalized by the government in 1969. It was founded by Devkaran Nanjee.
FAQs
✅ Who is in charge of deducting Income Tax at source from pension payment?
The Income Tax is deducted by the Pension Paying back and the rates are prescribed by the Income Tax from time to time.
✅ When is the pension credited by the Pension branch to the pensioner’s account?
The Pension is credited in the pensioner’s account by Pension Paying Back and this all is done on the instructions of Pension Paying authorities.
✅ Can a savings account be continued for a family pension if the pensioner has died?
Yes, the banks cannot force the spouse of the pensioner to open a new account. The pension should be credited to their existing account this should be done without opening a new account for family pension.
✅ At what Interest can we get a Loan for Pension in Dena Bank?
The interest rate for Pension Loan in Dena Bank is 3.40%
✅ How do we apply for a pension loan?
For applying for a loan you can contact Dialabank or you can call at 9878981166.
