| « Pensioners Loan
Jammu & Kashmir Bank- Personal Loan to Pensioners
Eligibility:
Central and state government pensioners drawing pension through the bank
are eligible for this loan.
Quantum of Loan:
If pensioners below the age of 65 years, the amount of loan is maximum
Rs.30,000/- or 9 months pension, whichever is lower. And above 65 years of age,
the amount of loan is maximum Rs.20,000/- or equivalent to 6 months pension whichever is lower.
Rate of Interest:
Interest rate of this pensioners loan can be calculated by PLR + 1.00%
p.a.w.m.r.( Per Annum With Monthly Rest).
Repayment of Loan:
Repayment of J&K Personal Loan to Pensioners may be maximum of 24
months in equated monthly installment schemes with effect from one month
after first disbursement.
Security of Loan:
Guarantee of spouse eligible for family pension or of any other family
member or a third party guarantee which is considered good for the amount
of advance.
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