Maharashtra Gramin Bank Pension Loan @ 3.40%

Maharashtra Gramin Bank Pension Loan

⋆ Interest Rate 9.99% ⋆

Maharashtra Gramin Bank Pension Loan Features

MGB Pension Loan Interest Rate	9.99% p.a.
MGB Pension Loan Processing Fee	1% of the loan amount
MGB 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
MGB Prepayment Charges	3% of the loan amount
MGB Foreclosure Charges	3% of the loan amount

Maharashtra Gramin Bank Pension Loan Eligibility

To be eligible for the pension loan, the borrower must draw his monthly pension from the bank and save up to 60% of the amount after paying loan installments.

Maharashtra 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

Maharashtra 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

Maharashtra 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 Maharashtra Gramin Bank Personal Loan For Pensioners

The bank has a minimal interest rate of 10%.

Document Required For Maharashtra Gramin Bank Pension Loan

Identity proof: Any of the following specified–

Passport
Voter Identity Card
Pan Card
Driving License
Aadhaar Card

Address proof: Any of the following specified–

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 Maharashtra Gramin Bank Personal Loan For Pensioners

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 Maharashtra Gramin Bank

It is an Indian regional rural bank with its headquarters in Maharashtra. It is supported by the Government of India to help the rural area of the country to grow.

FAQs on Maharashtra Gramin Bank Pension Loan

✅ What is the pension loan scheme?

The Maharashtra Gramin Bank Pension Loan plan covers the funding needs of Govt, Defense, and family pensioners after their departure.

✅ How can you get Maharashtra Gramin Bank Pension Loan?

You can approach online via Dialabank or call at 9878981166

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