« Pensioners Loan

Jammu & Kashmir Bank- Saral/Saholiat Finance Scheme for pensioners

Nature of Facility:

• Disbursed in cash
• No questions asked about its end-use.

Eligibility: Central and state government pensioners drawing pension through the bank.

Amount of Loan:

• Maximum 2.50 lac or 18 months net pension, whichever is lower, for pensioners below the age of 65 years.
• Maximum 1.50 lac or 12 months net pension, whichever is lower for pensioners above 65 years to 70 years of age.
• Maximum 0.70 lac or 9 months net pension, whichever is lower for pensioners above 70 years of age.

Margin: Nil

Security: 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.

Repayment:

• Up to 65 years : 48 months
• Above 65 years to 70 years : 36 months
• Above 70 years : 24 months

Rate of Interest: Click Here