PENSION LOAN (For Retired Govt. employees)

1. Rules & Regulations:

Maximum Loan Limit – 5.00 Lakhs
Maximum Rate of interest-12%
Maximum Loan Period  :60 Months

2. Eligible persons:

Retired Govt. employees. Central Govt. employees, Semi-Govt. employees. Bank Employees,

3. Purpose of  Pension Loan:Personal

Eligible Amount: 10 times  of gross pension or Rs.5.00 lakhs whichever is less.

4. Documents Required :
1. Retired employees applicant should mortgage a copy of his Original Pension with the bank as security.
2. The loan applicant should submit his wife as the first Surety for the loan and as the second security, a government employee who is drawing salary through in our bank.
3. Providing financial loan facility to pensioners subject to the provision of debt recovery in the ECS system of the bank from which the applicant receives pension.

                                                                                                                                                              Rules applicable