Punjab National Bank Pension Loan Features
| PNB Pension Loan Interest Rate |
9.55% |
| PNB Pension Loan Processing Fee |
Nil |
| PNB Pension Loan Tenure |
Up to 5 years |
| PNB Pension Loan Amount Minimum |
Rs. 25,000 |
| PNB Pension Loan Amount Max |
Rs. 10lakhs |
| PNB Family Pension Loan Amount Minimum |
Rs. 2.5lakhs |
| PNB Family Pension Loan Amount Max. |
Rs. 7.5lakhs |
| PNB prepayment |
3% of the loan amount |
| PNB foreclosure |
3% f the loan amount |
Punjab National Bank Pension Loan Eligibility
In Punjab National Bank all type of Pensioners is eligible who have their pension account with any of the bank branches.
Punjab National Bank Pension Loan Eligibility for Central and State Government Pensioners
| Eligibility Criteria |
Key Features |
| Employer Type |
Central and State Government |
| Applicant’s Age |
Below 70 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 National 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 National 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 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 |
The Interest Rate on Punjab National Bank Personal Loan for Pensioners
The interest rate is considerably less for pensioners, TL/DL: BR+2.50% Overdraft: BR+2.50%. There is documentation charges of 500/- plus GST.
| Loan Products |
Parameters |
Less than 3 years |
3 years and above |
| Pension loan |
Demand loan/ Term loan |
Base Rate + 2.50% = 11.75% |
Base Rate + 2% + Term Premium = 11.75% |
| Overdraft |
Base Rate + 2.50% = 11.75% |
Base Rate + 2% + Term Premium = 11.75% |
Document Required For Loans For Pensioners
Various documents are required depending on the loan amount, tenure, and other factors. However, the generic documents needed for the loan are :
- An original document showing your contribution to PPO. It should be retained until the liquidation of the loan account.
- DPDO pensioners also need to provide a copy of the letter of authority, The letter is sent to the DPDO by registered post with information about the disbursement of the loan amount to the concerned pensioner.
- An affidavit may be obtained by pensioners stating that they will not change their present disbursing branch or bank without the bank’s consent.
- Guarantee form (PNB 58 H).
- Additionally, the following documents are required for demand loans, term loans, and overdraft pension loans from PNB.
- Identity proof: an Aadhar card, Pan Card, Voter Identity Card, Driving License any of these would work as proof.
- Address Proof: Ration Card, Bank Account Statement, Driving License, Utility bills, Aadhar Card any of these would work as an address proof.
- Income Proof: both your bank account statements, as well as salary, slips both of these are must for the loan approval.
Loan Amount On Punjab National Bank Personal Loan For Pensioners
For Central and State Government Pensioners:
| Punjab National Bank Pension 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 Defense Pensioners:
| Punjab National Bank Pension For Defence Pensioners |
| Age |
Minimum Loan Amount |
Maximum Loan Amount |
Additional Ceiling Amount |
Loan Tenure |
| Up to 56 Years |
25000 |
14 Lakh |
36 Months Pension |
84 |
| 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 Family Pensioners (including Defense Pensioners) :
| Punjab National Bank Pension 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 National Bank
Punjab National Bank is one of the top financial service banks owned by the Government with its headquarters in New Delhi. It was founded by Lala Lajpat Rai and Dyal Singh Majithia in 1894. It has now become the second-largest public sector bank in India.
FAQs On Punjab National Bank Pension Loan
✅ Can you get a pension loan without guarantee or security?
At PNB guarantee of a spouse or a family member or against earning children or third party guarantee 9 preferable government employees with a net equal to or more than the loan amount is essential.
✅ What is the repayment procedure for Punjab National Bank Pension Loan?
In PNB 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 National Bank Pension Loan?
You can apply online via Dialabank or call at 9878981166.
