Purpose
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- To meet the expenses like Marriage, Family & Domestic functions, Education, Medical etc.,
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Age of applicant
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- For Regular pensioners:
Maximum entry age : 75 Years
Maximum exit age : 78 Years
- For Family Pensioners:
Maximum entry age : 70 Years
Maximum exit age : 73 Years
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Eligible amount
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- Regular pensioners: 15 Months pension - subject to Maximum of 10 Lakhs
- Family pensioners:12 Months pension - subject to Maximum of 2 Lakhs
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Take home pay
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- 40% NTHP to be maintained after deducting the EMI
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Repayment
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- Maximum : 60 Months (for Regular pensioner)
- Maximum : 36 Months (for Family pensioner)
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Rate of Interest
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Processing Charges
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- NIL for Loan amount upto 25,000/-
- 300/- for Loan amount more than 25,000/-
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Guarantee
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- Guarantee of spouse/legal heir eligible for family pension to be obtained. If spouse/legal heir eligible for family pension is not available, guarantee of a legal heir or a family member with sufficient income(i.e. not less than pensioner’s income) should be obtained along with proof of income
- If both (spouse/ legal heir or family member) are not available, a suitable third party guarantee (preferably a relative) may be obtained (whose net-worth should be at-least equivalent to the loan amount) and in such cases, the loan quantum shall be restricted to the level applicable for family pensioners
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Documents Required
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- KYC documents of borrower and guarantors for address and identity
- CIBIL Report
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