ESAF Small Finance Bank Pension Loan Features
| ESAF Small Finance Bank Pension Loan Interest Rate | 11.83% p.a. |
| Pension Loan Processing Fee | 1% of the loan amount |
| 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 |
| ESAF Small Finance Bank Prepayment Charges | 3% of the loan amount |
| ESAF Small Finance Bank Foreclosure Charges | 3% of the loan amount |
ESAF Small Finance Bank Pension Loan Eligibility
For the ESAF Small Finance Bank pension 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.
ESAF Small Finance 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 |
ESAF Small Finance 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 |
ESAF Small Finance 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 ESAF Small Finance Bank 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 ESAF Small Finance Bank Personal Loan For Pensioners
The interest rate for ESAF Small Finance Bank Pension Loan is very less, i.e. 3.40% p.a., to fulfil the needs of old pensioners in their post-retirement days.
Document Required For ESAF Small Finance Bank 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 ESAF Small Finance Bank 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
ESAF Small Finance Bank
ESAF Small Finance Bank is a new age bank that redefines the banking experience for all its stakeholders. Their primary focus is on expanding the banking horizon to new unbanked or underbanked areas and standing up as a bank for all with a presence in urban, semi-urban, rural, and rural unbanked areas. It started its journey as an NGO in 1992, with a larger vision of the sustainable and holistic transformation of the poor and the marginalized people.
FAQs on ESAF Small Finance Bank Pension Loan
✅ Can you get a loan on a pension?
The ESAF Small Finance Bank Pension Loan is available for the Central and State Government pensioners and defence and family pensioners 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 ESAF Small Finance Bank Pension Loan can be availed from Rs 25,000 to Rs 14 lakhs.
✅ What is the pension loan scheme?
The ESAF Small Finance Bank Pension Loan scheme covers the funding needs of Government Defense and family pensioners after their retirement.
✅ At what rate of interest you can get ESAF Small Finance Bank Pension Loan?
You can get ESAF Small Finance Bank Pension Loan at a 3.40% p.a. interest rate.
✅ How can you get ESAF Small Finance Bank Pension Loan?
You can apply online via Dialabank or call at 9878981166.
