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« Pensioners Loan

State Bank of Hyderabad- Loan to Pensioners

Purpose:

The main aim of this pensioners loan is to meet all domestic expenses related with senior citizens.

Eligibility:

All Central and State government pensioners who maintain pension accounts in banks are eligible for this loan.

Quantum of Loan:

Rs.75, 000/- or 12 months pension, whichever is less would be taken as maximum amount of loan to pensioners.

Interest Rate:

Interest rate of this pensioners loan is 12.75 % p a

Repayment of Loan:

Reimbursement of pensioners loan is set to 48 monthly Installments from the 1st month after loan disbursal.

Security for Loan:

3rd party guarantee of spouse, family member who is eligible for family pension, or 3rd party guarantee equal to 100% of the loan amount will be considered as security of pensioners loan.

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State Bank of Hyderabad- Advances for Family Pensioners

Purpose:

This pensioners loan will be used to meet all the personal expenses of senior citizens.

Eligibility:

All family pensioners whose age is not more than 70 years.

Loan Amount:

The quantum of loan would be 3 times the family pension or maximum of Rs.10,000/- whichever is less.

Interest Rate:

Interest rate of  Family Pensioners is 12.75 % p.a and above BPLR is 0.50%.

Repayment of Loan:

Repayment of Pensioner's Loan for senior citizen may be maximum of 36 months in equated monthly installment schemes with effect from one month after first disbursement.

Security of Loan:

For a security third party guarantee acceptable to the bank for granting loan to senior citizen.

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