State Bank of India Pension Loan

State Bank of India Pension Loan Features

SBI Pension Loan Interest Rate	3.40%
SBI Pension Loan Processing Fee	1%
SBI 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
SBI prepayment	3%
SBI foreclosure	3%

State Bank of India Pension Loan Eligibility

For the pension loan eligibility of State Bank of India. One of your ex-staff members should hold a pension account. You must be able to save 60% of the pension after paying loan instalment. There should be a pension account of yours in State or Central Government, PSU.

State Bank of India 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

State Bank of India 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

State Bank of India 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

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Maximum Eligible loan Amount and Repayments

For Central and State Government Pensioners:

Age	Max Loan Amount	Repayment Period	Age at the time of full repayment
Below 72 Years	14 Lakh	60	Up to 77 Years
72-74 Years	12 Lakh	48	Up to 78 Years
74-76 Years	7.5 Lakh	24	Up to 78 Years

(ii) For Defense Pensioners:

Age	Max Loan Amount	Repayment Period	Age at the time of full repayment
below 56 Years	14 Lakh	84	Up to 63 Years
56-72 Years	14 Lakh	60	Up to 77 Years
72-74 Years	12 Lakh	48	Up to 77 Years
74-76 Years	7.5 Lakh	24	Up to 78 Years

(ii) For Family Pensioners (including Defense Pensioners) :

Age	Max Loan Amount	Repayment Period	Age at the time of full repayment
Below 72 Years	14 Lakh	60	Up to 77 Years
72-74 Years	12 Lakh	48	Up to 77 Years
74-76 Years	7.5 Lakh	24	Up to 78 Years

Interest Rate Personal Loan For Pensioners

The Pension Loan interest rate in SBI is 3.40%. This pension loan will help you in the following things:

• Medical Expenses
• Travelling expenses
• Financial condition
• wedding of your children

To apply for a loan you can connect with Dialabank.

Document Required For Loans For Pensioners 

Identity proof: Identity proof will be recognised by the following documents like Aadhar Card, Pan Card, Passport, Voter Identity Card any of these documents would do the work.

Address Proof: Address proof can be recognised using Ration Card, Passport, Utility Bills, aadhar Card, Property Purchased documents any of these documents would do the work.

Income Proof: Salary slips and Bank Account Statements are used for verifying the income proof and in this, both the documents are required. You need to fulfil all the above 3 requirements to get a pension loan.

Loan Amount on Bank Personal Loan For Pensioners

The maximum amount of loan provided by the State bank of India for state and central government pensioners and for defence pensioners will be 14 Lakh and for family pensioners, it is 5 Lakh. The minimum loan amount for everyone will be 25,000. The loan tenure will vary accordingly. For more information please refer the below-given table:

About State Bank of India

 

It is a multinational public sector bank one of the largest Public Banks of India. It is the world’s 43rd largest banks. It has 23% of the share in the market asset. State B.

FAQs

✅ What is the loan amount that a pensioner can avail?

The minimum loan amount is 25,000.

✅What is State Bank of India Pension Loan scheme?

The State Bank of India Pension Loan scheme will be providing loan to all those retired people who were involved in Government jobs, defence services or are the spouse of those who are receiving pensions.

✅From where can we apply for Pension Loan?

You can apply for a loan at Dialabank or you can call us at 9878981166.

✅ At what Interest can we get Loan for Pension in State Bank of India?

The interest rate provided by the State Bank of India for pensioners is 3.40%