Vijaya Bank Pension Loan Features
| Vijaya Bank Pension Loan Interest Rate | 11.83% p.a. |
| Vijaya Bank Pension Loan Processing Fee | 1% of the loan amount |
| Vijaya Bank 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 |
| Vijaya Bank Prepayment Charges | 3% of the loan amount |
| Vijaya Bank Foreclosure Charges | 3% of the loan amount |
Vijaya Bank Pension Loan Eligibility
For the Vijaya Bank loan eligibility, it is one of the primary requirements that one of your ex-staff constituent who is having a pension statement. You must also be a beneficiary of state government, PSU or Central Government. You must also take home 60% of the monthly pension after paying the bank payments.
Vijaya 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 |
Vijaya 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 |
Vijaya 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 |
Interest Rate On Vijaya Bank Personal Loan For Pensioners
The interest rate for Vijaya Bank Pension Loan is very less i.e. 3.40% p.a. to fulfil the needs of old pensioners in their ending days.
Documents Required For Vijaya 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 Vijaya Bank Personal Loan For Pensioners
The smallest loan amount is Rs 25,000. The highest loan amount and loan tenure depends on the pensioner’s life and the nature of the pension he/she 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 Vijaya Bank 
Vijaya Bank started in October 1931 in Mangalore, Karnataka. It was established by Shri A.B.Shetty and other farmers to promote banking habits among the farming community in the Dakshina Kannada district in Karnataka.
Vijaya Bank became a recognised bank in 1958. From 1963 to 1968 it grew into all Indian banks by the merger of nine smaller banks into Vijaya Bank. It got nationalised in the year 1980. Now it has a network of 1277 branches, 49 extension counters and 551 ATMs spread across all 28 states and 4 union territories in the country.
FAQs on Vijaya Bank Pension Loan
✅ Can you get a loan on a pension?
The Vijaya Bank Pension Loan is available for the Central and State Govt pensioners, Defense pensioners and family pensioners up to 76 years of age.
✅ How much loan can a pensioner get?
The loan amount of personal loans for pensioners varies for the different pension loan providers. The Vijaya Bank Pension Loan can be availed for the amount Rs 25,000 to Rs 14 lakhs.
✅ What is the pension loan scheme?
The Vijaya Bank Pension Loan scheme covers the funding needs of Govt, Defense and family pensioners after their retirement.
✅ At what rate of interest you can get Vijaya Bank Pension Loan?
You can get Vijaya Bank Pension Loan at 3.40% p.a. interest rate.
✅ How can you get Vijaya Bank Pension Loan?
You can apply online via Dialabank or call at 9878981166
