IIFL Pension Loan Features
| IIFL Pension Loan Interest Rate | 8%-8.90% p.a. |
| IIFL Pension Loan Processing Fee | 1.75% of the loan amount |
| IIFL Pension Loan Tenure | 36 months |
| IIFL Pension Loan Amount Minimum | Rs 25,000 |
| IIFL Pension Loan Amount Max | Rs.20lakhs |
| IIFL Family Pension Loan Amount Minimum | Rs 2lakhs |
| IIFL Family Pension Loan Amount Max. | Rs. 10lakhs |
| IIFL prepayment | 3% of the loan amount |
| IIFL foreclosure | 3% of the loan amount |
IIFL Pension Loan Eligibility
A person should have his beneficiary in PSU, Central & State Governments while withdrawing his monthly pension from the bank. the pensioner must also save 60% of the pension after paying loan installments.
IIFL Pension Loan Eligibility for Central and State Government Pensioners
| Age range | The basis for arriving at quantum | Maximum permissible loan (Amount in lakhs) |
| Up to 65 years | 18 times gross monthly pension routed through our Bank | 10.00 |
| 65 – 70 years | 18 times gross monthly pension routed through our Bank | 5.00 |
| Over 70 years | 5 months gross pension being routed through our Bank | 2.00 |
IIFL Pension Loan Eligibility For Defence Pensioners
| Age range | The basis for arriving at quantum | Maximum permissible loan (Amount in lakhs) |
| Up to 65 years | 18 times gross monthly pension routed through our Bank | 10.00 |
| 65 – 70 years | 18 times gross monthly pension routed through our Bank | 5.00 |
| Over 70 years | 5 months gross pension being routed through our Bank | 2.00 |
IIFL Pension Loan Eligibility For Family Pensioners
| Age range | The basis for arriving at quantum | Maximum permissible loan (Amount in lakhs) |
| Up to 65 years | 18 times gross monthly pension routed through our Bank | 10.00 |
| 65 – 70 years | 18 times gross monthly pension routed through our Bank | 5.00 |
| Over 70 years | 5 months gross pension being routed through our Bank | 2.00 |
Maximum Eligible IIFL Pension Loan Amount and repayments
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 IIFL Personal Loan For Pensioners
At IIFL Pensioners can avail of personal loans at an interest of MCLR+ 3.60% p.a. The current rate of interest is 8.9%.
Document Required For IIFL Personal Loans For Pensioners
The list of documents varies as banks do not prescribe a set of documents and it may also vary from repayment tenure to loan amount. The generic documents required to be submitted are:
- Completed & Signed loan application form with passport size photographs
- Copy of your driving license, passport, or Voter’s ID(identity proof)
- Address Proof (photocopy of recent Telephone Bills/ Electricity Bill).
- Bank statement for the past six months
- The latest salary slip
- The latest Form 16 or Income Tax Returns
Loan Amount On IIFL Personal Loan For Pensioners
For State and Central Government Pensioners
| Bank Pension Loan | Minimum Loan Amount | Maximum Loan Amount | Additional Ceiling Amount | Loan Tenure(months) |
| Below 65 years Between 65 – 70 years Above 70 years |
Rs 25,000 | RS 10 lakhs RS 5 lakhs RS 2 lakhs |
18 months | 60 48 24 |
Defense Pensioners
| Bank Pension Loan | Minimum Loan Amount | Maximum Loan Amount | Additional Ceiling Amount | Loan Tenure(months) |
| Below 65 years Between 65 – 70 years Above 70 years |
Rs 25,000 | RS 10 lakhs RS 5 lakhs RS 2 lakhs |
18 months | 60 48 24 |
Family Pensioners
| Bank Pension Loan | Minimum Loan Amount | Maximum Loan Amount | Additional Ceiling Amount | Loan Tenure(months) |
| Below 65 years Between 65 – 70 years Above 70 years |
Rs 25,000 | RS 10 lakhs RS 5 lakhs RS 2 lakhs |
18 months | 60 48 24 |
About IIFL
IIFL Holdings Limited is an Indian diversified financial service company with its headquarters in Mumbai. Nirmal Jain had founded this company in 1995. It has its customer base as corporates, institutional investors, and individuals.
FAQs IIFL Pension Loan
✅ How can you get IIFL Pension Loan?
You can apply online via Dialabank or call at 9878981166.
✅Is there an age limit to apply for a pension loan?
If you are a pensioner having an account with the bank and are not above 78 years, you are eligible to avail of the City Union Bank Pension Loan.
