SBI Pension Loan Scheme; Interest Rate Eligibility and Documents Required for Family Defense Pensioners | SBI pensioners are getting loans at 9.75% interest, loans up to Rs 14 lakh

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  • SBI Pension Loan Scheme; Interest Rate Eligibility and Documents Required for Family Defense Pensioners

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New Delhi6 hours ago

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State Bank of India (SBI) is running a pension loan scheme for retired employees. Under this, SBI is giving loans at 9.75% interest. Loans up to Rs 14 lakh can be availed through this facility. We are telling you about this scheme, so that you can get a loan easily if needed.

A person under 76 years of age can take a loan

  • It can apply for pension holders of Central and State Governments whose age is below 76 years.
  • Their pension payment order should be with the State Bank of India.
  • The pension holder has to give a promise that he will not change his mandate given to the Treasury in the loan period.

Will get Rs 14 lakh Loan up to
The amount of loan available under this depends on your age. If you take a loan at the age of 72 years, you can get a maximum loan of up to Rs 14 lakh. Understand the full mathematics of loan amount here

Age of borrower Loan Amount (Maximum) How long is the loan to repay
Less than 72 years 14 lakhs 5 years
72 to 74 years 12 lakhs 4 years
74 to 76 years 7.50 lakhs 2 years

On the other hand, if you talk about those getting family pension, then they will be able to get a maximum loan of up to Rs 5 lakh.

How can you apply?

You can apply for a loan at your bank branch. For more information about this, you have to give a missed call to 7208933142. Apart from this, you can also SMS “PERSONAL” to 7208933145. After this, the bank will call you back.

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