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Personal

Target Customers(Eligibility)

Regular pensioners or family pensioners drawing regular monthly pension through the branch.

Retired employees (other than dismissed/compulsorily retired)

Type of Advance

Demand Loan/Term Loan/Overdraft (reducible as per repayment schedule)/ Overdraft

Quantum of Advance DL/TL/OD (reducible as per repayment schedule) Overdraft [Pensioner' Credit Card holder not eligible]

Where PPO is held with Branch

Pension directly received at Branch from Treasury /DPDO

Regular Pensioner / Family Pensioner where age does not exceed 75 years at the end of repayment period.

Secured / Unsecured:-

  • 15 times of monthly pension (For Pensioner / Family Pensioner – Max. loan Amount Rs.5 Lac)
  • times of monthly Pension (Max. Loan for Pensioners Rs.3 Lacs. Max. Loan for Family Pensioner Rs.1.5 lacs)
 

For those over 75 years, Max. Limit Rs.1 lac.

[Proponent/borrower may be sanctioned more than one loan (i.e. two accounts – one for secured and other for unsecured/clean loan) under the scheme, depending upon eligibility].

  • 3 Times of net pension (amount credited to SB A/c. less EMI for Loans if any, Max. Rs.50000/-)
  • 3 Times of net pension (amount credited to SB A/c. less EMI for Loans if any, Max. Rs.50000/-)

Net take home Pension

The net take home pension after deduction of loan instalment should be at least 40% of the pension amount.

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