Wednesday, January 20, 2021

« Pensioners Loan

Punjab National Bank- Personal Loan Scheme for Pensioners

Objective: To provide financial assistance to the public drawing pension through PNB

Purpose: To meet personal needs including medical expenses.

Eligibility: All types of pensioners drawing pension through our branches

Quantum Of Finance: 

Minimum Rs.25,000/-

Maximum Loan amount:

  • Age upto 70 years: Rs. 10,00,000/- (Rupees Ten lac only) OR 18 times of net monthly Pension (For Defence pensioners, 20 times net monthly pension), whichever is lower.
  • Age above 70 years and upto 75 years: Rs 7.50 lac OR 18 times their net monthly Pension (20 times in case of Defence Pensioners), whichever is lower;
  • Age above 75 years: Rs. 5.00 lac OR 12 months of pension amount, whichever is lower.

Margin: NIL


Guarantee of spouse eligible for family pension to be obtained OR guarantee of earning children (preferably Govt Employee) OR third party guarantee with net means equal or more than loan amount, acceptable to the Bank.

Repayment (Maximum):

  • Maximum 60 EMIs.
  • In respect of pensioners above the age of 75 years: Maximum 24 EMIs.
  • Repayment to be fixed on such a basis that all deductions including the proposed Personal Loan installment should not exceed the prescribed ceiling of 50% of Net Monthly Pension

Rate Of Interest: Click Here 

Processing Charges/ Upfront Fee: Click Here 

Documentation Charges: Click Here 

Above are only salient features of the scheme. For details please contact nearest branch

Updated on : 21/1/2017