| « Pensioners Loan
Syndicate Bank- SyndSenior
Purpose of Loan:
Any bonafide personal or business credit requirement of pensioners.
Eligibility:
Pensioners in receipt of regular monthly pension from Central
or State Governments or Public Sector Units or Defense Establishments
and other government or quasi government institutions whose pensions are
being routed through accounts held with this Bank are eligible for SyndSenior
scheme.
Quantum of Loan:
Details of the quantum of loan that can be sanctioned based upon age profile of the borrower are as follows:
- If pensioners age between 60 - 65 years, the amount of loan is maximum
Rs.3,00,000/- or 18 times the gross monthly pension, whichever is lower.
- If pensioners age between 65 - 70 years, the amount of loan is maximum Rs.1,50,000/-
or 18 times the gross monthly pension, whichever is lower.
- If pensioners age above 70 years, the amount of loan is maximum Rs.50,000/-
or 5 months gross pension, whichever is lower.
Interest Rate:
Interest rate of SyndSenior is PLR. (Prime Lending Rate).
Repayment of Loan:
Repayment of this pensioners loan scheme by EMIs not exceeding 72 months.
Security:
- Surety need not be insisted for loans upto 6 months gross monthly pension or Rs.50000/- whichever is lower.
- In all other cases the surety of a family member or that of a third party shall be obtained. The surety should have adequate means / income.
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