| « Pensioners Loan
Punjab National Bank- Personal Loan Scheme for Pensioners
Purpose of Loan:
The main intention of this loan is to meet each and every personal needs
including medical expenses of senior citizen.
Eligibility:
All type of pensioners who drawing pension from Department
of Pension Disbursing Office (DPDOs) through banks are eligible for this
loan scheme. The pensioners and Ex-employees of this bank is also allowed
for this loan.
Quantum of Loan:
- Maximum Rs.1,50,000/- or amount equivalent to 18 months' net pension, whichever is lower.
- For Pensioners above the age of 75 years, the maximum amount of loan would be Rs.70,000/-.
Rate of Interest:
The rate of interest to Pensioners less than 3 years will be BPLR+0.25% (i.e. 12.25%)
and 3 years and above will be BPLR-0.25%+0.50% TP (i.e. 12.25%).
Security for Loan:
Guarantee of spouse
eligible for family pension to be obtained or of any other family member
of means or a third party guarantee acceptable to the bank for granting
loan to senior citizen.
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