Madhya Pradesh Gramin Bank Pension Loan Features
| MPGB Pension Loan Interest Rate | 9.99% per annum |
| MPGB Pension Loan Processing Fee | 1% of the loan amount |
| MPGB Pension Loan Tenure | Up to 60 months |
| MPGB Pension Loan Amount Minimum | Rs.25,000 |
| MPGB Pension Loan Amount Max | 14 Lakh |
| MPGB Family Pension Loan Amount Minimum | 2.5 Lakh |
| MPGB Family Pension Loan Amount Max. | 5 Lakh |
| MPGB prepayment | 3% of the loan amount |
| MPGB foreclosure | 3% of the loan amount |
Madhya Pradesh Gramin Bank Pension Loan Eligibility
One of the primary concerns is that the pensioner must be a beneficiary of state government, central government, or PSU and should draw their monthly pension from the bank branches.
Madhya Pradesh Gramin 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 |
Madhya Pradesh Gramin 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 |
Madhya Pradesh Gramin 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 | 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 (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 Madhya Pradesh Gramin Bank Personal Loan For Pensioners
To help the old pensioners Madhya Pradesh Gramin Bank provides a minimal interest of 3.4% p.a. for their personal loan for pensioners.
Document Required For Madhya Pradesh Gramin Bank Pension Loan
The documentation varies from repayment tenure to loan amount. The common documents required to be submitted are:
- Completed & Signed loan application form with passport size photographs
- A photo-stated copy of your original driving license, passport, or Voter’s ID(identity proof)
- Proof of residence (a copy of recent Telephone Bills/ Electricity Bill).
- Bank statement for the past six months
- The latest salary slip
- The latest Form 16 or Income Tax Return
Loan Amount On Madhya Pradesh Gramin Bank 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 |
Defence 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 Madhya Pradesh Gramin Bank
Madhya Pradesh Gramin Bank is a regional rural bank established in 2019 after the amalgamation of Narmada Jhaubua Grameen Bank and Central Madhya Pradesh Gramin Bank.
FAQs on Madhya Pradesh Gramin Bank Pension Loan
✅ Am I Eligible for a Madhya Pradesh Gramin Bank 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 Madhya Pradesh Gramin Bank Pension Loan.
✅ At what rate of interest you can get Madhya Pradesh Gramin Bank Pension Loan?
You can get Madhya Pradesh Gramin Pension Loan at a 3.40% p.a. interest rate.
✅ How can you get Madhya Pradesh Gramin Bank Pension Loan?
You can apply online via Dialabank or call at 9878981166.
