Purpose:
Any genuine personal needs other than speculation, investment in real estate or prohibited activities.
Eligibility:
Pensioners / family pensioners drawing pension through our Bank Branches including Ex-staff
Maximum Loan Amount:
Eighteen times the monthly pension maximum Rs.10.00 Lakh
Nature of facility:
Demand Loan &OD with diminishing DP.Limit to be amortized in 60 months
Rate Of Interest:REPO BASED LENDING RATE (RBLR)
w.e.f 30.05.2020
RBLR =Repo + Spread
4.00+
4.45 =8.45%
Co-borrower:
Spouse of the pensioner or legal heir(s) of family pension beneficiarymust join as co-borrower