| « Pensioners Loan
State Bank of India- Loan to Pensioners
Purpose
of Loan:
In
order to meet urgent or unexpected need for funds or a family or personal
expenses of pensioners.
Eligibility:
All
Central and State Government pensioners, whose pension accounts are
maintained by this bank. The pensioner should not be more than 72 years of
age.
Quantum
of Loan:
From this loan up to a maximum loan amount of 12 months pension,
subject to a ceiling of Rs.1,00,000/- can avail.
Rate of Interest:
Interest rate of pensioners loan for senior citizen is 0.50% above SBAR
Floating is 12.75% p.a. with effect from 01.01.2009.
Repayment of Loan:
If age of Pensioner at the time of loan sanction is upto 70 years, the
reimbursement set to 60 Equated Monthly Installments. And if age of
Pensioner at the time of sanction is between 70 – 72 years,
reimbursement set to 48
Equated Monthly Installments (EMIs).
Security:
The
spouse eligible for family pension should guarantee the loan or any other
family member or a third party worth the loan amount.
For more information: Visit
Top
|
