Punjab Gramin Bank Pension Loan Features
| Pension Loan Interest Rate |
9.40% |
| Pension Loan Processing Fee |
1% of the loan amount |
| Pension Loan Tenure |
12 to 60 months |
| Pension Loan Amount Minimum |
₹ 50,000 |
| Pension Loan Amount Max |
₹ 2 Lakh |
| Family Pension Loan Amount Minimum |
₹ 50,000 |
| Family Pension Loan Amount Max. |
Rs. 10 lakhs or 18 times the gross monthly pension being routed through the Bank |
| prepayment |
3% of the loan amount |
| foreclosure |
3% of the loan amount |
Punjab Gramin Bank Pension Loan Eligibility
Every customer of the bank is not eligible to obtain a Personal Loan for pensioners at Punjab Gramin Bank. There are various factors for a person to be eligible:
- He should be an employee in Public sector companies.
- The Pensioner should be getting pensions every month.
- The borrower’s monthly pension must have a pension account in Punjab Gramin Bank.
Punjab 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 |
Punjab 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 |
Punjab 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 Punjab Gramin Bank Personal Loan For Pensioners
The rate for interest at Punjab Gramin Bank Pension Loan is considerably less i.e. 3.40% p.a. to accomplish the needs of old pensioners in their ending days.
Document Required For Punjab Gramin 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 last 6 months
- Salary Slips
Loan Amount On Punjab 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 Punjab Gramin Bank
Punjab Gramin Bank was established in 1975 by the Narasimha committee.PNB is its sponsor bank.
FAQs on Punjab Gramin Bank Pension Loan
✅ Can you get a pension loan without guarantee or security?
At PGB guarantee of a spouse or a family member or against earning children or a third party guarantee is preferable, government employees with a net equal to or more than the loan amount are essential.
✅ What is the repayment procedure for Punjab Gramin Bank Pension Loan?
In PGB a maximum of 60 EMIs is set for repayment of the loan. If the age of the pensioner is above 75 years then the EMIs are fixed at 24. Repayment amounts should be fixed in such a way that they should not exceed the structured ceiling of 50% of the net monthly Pension.
✅ How can you get Punjab Gramin Bank Pension Loan?
You can apply online via Dialabank or call at 9878981166
