L&T Finance Pension Loan Features
| L&T Finance Pension Loan Interest Rate | 3.40% |
| L&T Finance Pension Loan Processing Fee | 1% |
| L&T Finance Pension Loan Tenure | 36 Months |
| L&T Finance Pension Loan Amount Minimum | 25,000 |
| L&T Finance Pension Loan Amount Max | 14 Lakh |
| L&T Finance Family Pension Loan Amount Minimum | 2.5 Lakh |
| L&T Finance Family Pension Loan Amount Max. | 5 Lakh |
| L&T Finance prepayment | 3% |
| L&T Finance foreclosure | 3% |
L&T Finance Pension Loan Eligibility
To register, if necessary, for a pension loan:
- You’d like to learn from one of the former members of the team who has a pension plan.
- In a PSU, a centralized bank, a state administration, you can hold a pension account.
- You must be able to save 60 per cent of the pension after taking out the loan payment.
L&T Finance Pension Loan Eligibility For Central And State Government For Retirees
| 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 |
L&T Finance 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 |
L&T Finance 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 | Authorized 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 Personal Loan For Pensioners
3.40 per cent is the L&T Finance Pension loan interest rate. In order to improve your financial standing for your critical illness, this personal loan is for personal expenses. On Dialabank, you might file for a debt.
Document Required For Loans For Pensioners
Identity proof:
- Aadhar Card
- Voter Identity Card
- Passport
- Pan Card
Address Proof:
- Ration Card
- Property Purchased documents
- Passport
- Aadhar Card
- Utility Bills
Income Proof:
- Salary slips
- Bank Account Statements
Loan Amount on Bank Personal Loan For Pensioners
For each pension category, the basic original loan will be 25,000, but the total loan amount will appear to differ by category, like retired pensioners from the state and central government, and security pensioners may benefit from up to 14 lakh loans, while family pensioners may benefit from up to 5 lakh.
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 L&T Finance
The non-banking financial institution-core investment firm is L&T Finance Holdings Limited. The segments of the Business include Retail and Mid Market Finance, consisting of financing of rural goods, financing of personal vehicles, microfinance, housing finance, financing of commercial vehicles, financing of construction equipment, loans and leases and loans against shares; Wholesale Finance, consisting of project financing and non-project corporate finance for infra and non-infra segments through power-therm segments;
FAQs
✅What is the amount of credit that is financed by a pensioner?
The minimum loan sum to be used by a pensioner is 25,000 and the amount will depend on which category the person falls into.
✅What’s an L&T Finance Pension mortgage loan?
Loans to all pensioners who have been involved in government positions, security forces, or who are spouses of pension recipients will be issued through the L&T Finance Pension bank loan.
✅Where do we look for a retirement loan?
You may call for L&T Finance Pension Loan from Dialabank or you can dial us at 9878981166.
✅What incentives will the Bandhan Bank Pension Loan offer us?
L&T Finance’s interest rate offered to pensioners is 3.40 per cent.
