Puduvai Bharathiar Grama Bank Pension Loan Features
| Puduvai Bharathiar Grama Bank Pension Loan Interest Rate | 11.83% p.a. |
| Puduvai Bharathiar Grama Bank Pension Loan Processing Fee | 1% of the loan amount |
| Puduvai Bharathiar Grama Bank Pension Loan Tenure | 36 months |
| Puduvai Bharathiar Grama Bank Pension Loan Amount Minimum | 25,000 |
| Puduvai Bharathiar Grama Bank Pension Loan Amount Max | 14 Lakh |
| Family Pension Loan Amount Minimum | 2.5 Lakh |
| Family Pension Loan Amount Max. | 5 Lakh |
| Prepayment Charges | 3% of the loan amount |
| Foreclosure Charges | 3% of the loan amount |
Puduvai Bharathiar Grama Bank Pension Loan Eligibility
For the Puduvai Bharathiar Grama Bank Pension Loan eligibility, it is a necessary requirement that one of your ex-staff constituent 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.
Puduvai Bharathiar Grama 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 |
Puduvai Bharathiar Grama 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 |
Puduvai Bharathiar Grama 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 Puduvai Bharathiar Grama 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 Puduvai Bharathiar Grama Bank Personal Loan For Pensioners
The interest rate for Puduvai Bharathiar Grama Bank Pension Loan is very less i.e. 3.40% p.a. in order to fulfil the needs of old pensioners in their post-retirement days.
Documents Required For Puduvai Bharathiar Grama 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 Puduvai Bharathiar Grama Bank Personal Loan For Pensioners
The smallest loan amount is Rs 25,000. The highest loan amount and loan tenure depends on pensioner’s life and the nature of pension that she or he is 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 Puduvai Bharathiar Grama Bank
Puduvai Bharathiar Grama Bank is sponsored by Indian Bank. It started in the year 2008 by the Government of India vide Ministry of Finance. The bank was inaugurated by Mr P. Chidambaram, who was the Honourable Union Minister of Finance at that time.
FAQs on Puduvai Bharathiar Grama Bank Pension Loan
✅ Can you get a loan on a pension?
The Puduvai Bharathiar Grama Bank Pension Loan is available for the Central and State Government pensioners, and also Defense and family pensioners who are 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 Puduvai Bharathiar Grama Bank Pension Loan can be availed from Rs 25,000 to Rs 14 lakhs.
✅ What is the pension loan scheme?
The Puduvai Bharathiar Grama 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 Puduvai Bharathiar Grama Bank Pension Loan?
You can get Puduvai Bharathiar Grama Bank Pension Loan at 3.40% p.a. interest rate.
✅ How can you get Puduvai Bharathiar Grama Bank Pension Loan?
You can apply online via Dialabank or call at 9878981166
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