Syndicate Bank Pension Loan Features
| Syndicate Bank Pension Loan Interest Rate |
13.4% – 13.6% |
| Syndicate Bank Processing Fee | 1% of the loan |
| Syndicate Bank Pension Loan Tenure |
12 months to 60 months |
| Syndicate Bank Pension Loan Amount Minimum |
₹ 50,000 |
| Syndicate Bank Pension Loan Amount Max |
₹ 2 Lakh |
| Syndicate Bank Family Pension Loan Amount Min. |
₹ 50,000 |
| Syndicate Bank Family Pension Loan Amount Max. |
Rs. 10 lakhs or 18 times the gross monthly pension being routed through the Bank |
| Syndicate Bank prepayment |
3% of the loan |
| Syndicate Bank foreclosure |
3% of the loan |
Syndicate Bank Pension Loan Eligibility
Every customer of the bank is not eligible to obtain a Personal Loan for pensioners at Syndicate 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 Syndicate Bank.
Syndicate Bank Pension Loan Eligibility for Central and State Government Pensioners
| Age range | The basis for arriving at quantum | Maximum permissible loan (Amount in lakhs) |
| Up to 65 years | 18 times gross monthly pension routed through our Bank | 10.00 |
| 65 – 70 years | 18 times gross monthly pension routed through our Bank | 5.00 |
| Over 70 years | 5 months gross pension being routed through our Bank | 2.00 |
Syndicate Bank Pension Loan Eligibility For Defence Pensioners
| Age range | The basis for arriving at quantum | Maximum permissible loan (Amount in lakhs) |
| Up to 65 years | 18 times gross monthly pension routed through our Bank | 10.00 |
| 65 – 70 years | 18 times gross monthly pension routed through our Bank | 5.00 |
| Over 70 years | 5 months gross pension being routed through our Bank | 2.00 |
Syndicate Bank Pension Loan Eligibility For Family Pensioners
| Age range | The basis for arriving at quantum | Maximum permissible loan (Amount in lakhs) |
| Up to 65 years | 18 times gross monthly pension routed through our Bank | 10.00 |
| 65 – 70 years | 18 times gross monthly pension routed through our Bank | 5.00 |
| Over 70 years | 5 months gross pension being routed through our Bank | 2.00 |
Maximum Eligible Syndicate Pension 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 |
|
Up to 65 years |
₹ 10.00 Lakh |
60 months |
Up to 70 years |
|
65 – 70 years |
₹ 5.00 Lakh |
48 months |
Up to 74 years |
|
Above 70 years |
₹ 2.00 Lakh |
24 months |
Up to 78 years |
For Defense Pensioners:
|
Age |
Max Loan Amount (36 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 – 65 years |
₹ 10.00 Lakh |
60 months |
Up to 70 years |
|
65 – 70 years |
₹ 5.00 Lakh |
48 months |
Up to 74 years |
|
Above 70 years |
₹ 2.00 Lakh |
24 months |
Up to 78 years |
For Family Pensioners (including Defense Pensioners) :
|
Age |
Max Loan Amount (12 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 Syndicate Bank Personal Loan For Pensioners
At Syndicate bank Pensioners can avail of personal loans at an interest of MCLR+ 3.60% p.a. Syndicate Bank pension loan interest currently ranges from 13.4% – 13.6%.
Document Required For Syndicate Bank Personal Loans For Pensioners
The list of documents varies from repayment tenure to loan amount. The generic documents required to be submitted are:
- Completed & Signed loan application form with passport size photographs
- Copy of your driving license, passport, or Voter’s ID(identity proof)
- Address Proof (photocopy of recent Telephone Bills/ Electricity Bill).
- Bank statement for the past six months
- The latest salary slip
- The latest Form 16 or Income Tax Returns
Loan Amount On Syndicate Personal Loan For Pensioners
For State and Central Government Pensioners
| Bank Pension Loan | Minimum Loan Amount | Maximum Loan Amount | Additional Ceiling Amount | Loan Tenure(months) |
| Below 65 years Between 65 – 70 years Above 70 years |
Rs 25,000 | RS 10 lakhs RS 5 lakhs RS 2 lakhs |
18 months | 60 48 24 |
Defence Pensioners
| Bank Pension Loan | Minimum Loan Amount | Maximum Loan Amount | Additional Ceiling Amount | Loan Tenure(months) |
| Below 65 years Between 65 – 70 years Above 70 years |
Rs 25,000 | RS 10 lakhs RS 5 lakhs RS 2 lakhs |
18 months | 60 48 24 |
Family Pensioners
| Bank Pension Loan | Minimum Loan Amount | Maximum Loan Amount | Additional Ceiling Amount | Loan Tenure(months) |
| Below 65 years Between 65 – 70 years Above 70 years |
Rs 25,000 | RS 10 lakhs RS 5 lakhs RS 2 lakhs |
18 months | 60 48 24 |
About Syndicate Bank
Syndicate Bank is one of the oldest and biggest banks in India. It was founded by T. M. A. Pai, Upendra Pai, and Vaman Kudva. The bank was known as Canara Industrial and Banking Syndicate Limited when it was initially established.
FAQs
✅ Am I Eligible for a Syndicate Bank Pension loan?
If you are a pensioner having an account with the bank and are not above 78 years, you are eligible to avail of the Syndicate Bank Pension Loan.
✅ What is the maximum loan amount an applicant can get?
The maximum loan amount an applicant of age 65 years and less can get under a personal loan from Syndicate Bank is up to ₹ 12 Lakh.
✅ What is the minimum loan amount from Syndicate Bank for pensioners?
At Syndicate bank the minimum loan amount granted is Rs 25,000.
✅ How to contact Dialabank for more information on pension loans?
You can call on 9878981166 or can visit Dialabank to get all the necessary details right away.
