{"id":4799,"date":"2018-05-29T22:39:00","date_gmt":"2018-05-29T17:09:00","guid":{"rendered":"https:\/\/www.antworksmoney.com\/blog\/?page_id=4799"},"modified":"2018-05-29T22:39:00","modified_gmt":"2018-05-29T17:09:00","slug":"sbi-personal-loan-for-pensioners","status":"publish","type":"page","link":"https:\/\/www.antworksmoney.com\/blog\/sbi-personal-loan-for-pensioners\/","title":{"rendered":"SBI Personal Loan for Pensioners"},"content":{"rendered":"<p>Retired individuals might face financial requirements which compel them to avail a loan. To meet this purpose,\u00a0<strong>SBI provides loans to pensioners<\/strong>. Central or State Government or Defence pensioners who are below 76 years old can avail this loan. They need to draw their pension from one of the SBI branches. The loan needs to be availed from one of any SBI branch. The loan can be used to meet your personal financial needs.<\/p>\n<div class=\"container-fluid pad-none\">\n<h2>Features and Benefits of SBI Pensioner Loans<\/h2>\n<ul>\n<li>The processing fee is nominal. Defence pensioners need not pay any processing fee.<\/li>\n<li>Fast loan processing.<\/li>\n<li>The loan is devoid of interest costs.<\/li>\n<li>If you add credit into your loan account which will reduce the loan burden and interest.<\/li>\n<li>For central government employees the minimum loan amount is Rs.25,000. The maximum is pension of 18 months with a different upper cap for different ages.<\/li>\n<li>For defence employees the minimum loan amount is Rs.25,000. The maximum is 36 months\u2019 Pension with a ceiling of RS 14.00 lac for Pensioners below 56 years. It is also pension of 18 months with a different upper cap for different ages.<\/li>\n<li>The repayment period has been listed on the basis of age, in the table below \u2013<\/li>\n<\/ul>\n<p><strong>For Family Pensioners (including Defence Pensioners):<\/strong><\/p>\n<table class=\"table table-curved\">\n<tbody>\n<tr>\n<td>Age at the time of Loan sanction<\/td>\n<td>Repayment Period<\/td>\n<td>Age at the time of full Repayment<\/td>\n<\/tr>\n<tr>\n<td>Up to 72 years of Age<\/td>\n<td>60 months<\/td>\n<td>77 years<\/td>\n<\/tr>\n<tr>\n<td>More than 72 years and up to 74 years<\/td>\n<td>48 months<\/td>\n<td>78 years<\/td>\n<\/tr>\n<tr>\n<td>More than 74 years and up to 76 years<\/td>\n<td>24 months<\/td>\n<td>78 years<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<p><strong>For Central and State Government Pensioners:<\/strong><\/p>\n<table class=\"table table-curved\">\n<tbody>\n<tr>\n<td>Age at the time of Loan sanction<\/td>\n<td>Repayment Period<\/td>\n<td>Age at the time of full Repayment<\/td>\n<\/tr>\n<tr>\n<td>Up to 72 years of Age<\/td>\n<td>60 months<\/td>\n<td>77 years<\/td>\n<\/tr>\n<tr>\n<td>More than 72 years and up to 74 years<\/td>\n<td>48 months<\/td>\n<td>78 years<\/td>\n<\/tr>\n<tr>\n<td>More than 74 years and up to 76 years<\/td>\n<td>24 months<\/td>\n<td>78 years<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong>For Defence Pensioners:<\/strong><\/p>\n<table class=\"table table-curved\">\n<tbody>\n<tr>\n<td>Age at the time of Loan sanction<\/td>\n<td>Repayment Period<\/td>\n<td>Age at the time of full Repayment<\/td>\n<\/tr>\n<tr>\n<td>Up to 56 years<\/td>\n<td>84 months<\/td>\n<td>63 years<\/td>\n<\/tr>\n<tr>\n<td>More than 56 years and up to 72 years<\/td>\n<td>60 months<\/td>\n<td>77 years<\/td>\n<\/tr>\n<tr>\n<td>More than 72 years and up to 74 years<\/td>\n<td>48 months<\/td>\n<td>78 years<\/td>\n<\/tr>\n<tr>\n<td>More than 74 years and up to 76 years<\/td>\n<td>24 months<\/td>\n<td>78 years<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<div class=\"col-md-12 link-section\"><\/div>\n<h2>Eligibility Criteria for SBI Loan for Pensioners<\/h2>\n<p>For Central and State Government Pensioners:<\/p>\n<ul>\n<li>The maximum age should be 76 years<\/li>\n<\/ul>\n<p>For Defence Pensioners the individual should have been an employee of-<\/p>\n<ul>\n<li>Armed forces, CRPF, CISF, BSF, ITBP, etc. , Rasht Riya Rifles, Assam Rifles, and Coast guards<\/li>\n<li>He cannot be over 76 years of age<\/li>\n<\/ul>\n<p>Family pensioner<\/p>\n<ul>\n<li>Spouse of the primary pensioner can receive the pension after his death.<\/li>\n<li>His\/her age cannot be over 76<\/li>\n<\/ul>\n<div class=\"col-md-12 link-section\"><\/div>\n<h2>SBI Loan for Pensioners Interest rates<\/h2>\n<ul>\n<li><em>SBI Loan for Pensioners<\/em>\u00a0Interest rate is 3.80% above 2 year MCLR. This is currently\u00a0<strong>13.05% per annum<\/strong>.<\/li>\n<\/ul>\n<h2>Other fees and charges<\/h2>\n<ul>\n<li>For Central and State Government Pensioners and Family Pensioners the processing fee is 0.50% of the loan amount. This is subject to addition of GST (subject to a minimum of 500 and additional applicable GST.<\/li>\n<li>There is no processing fee for Defence Pensioners<\/li>\n<li>If you prepay the loan before the end of the loan tenure, you have to pay 3% as prepayment fees.<\/li>\n<\/ul>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Retired individuals might face financial requirements which compel them to avail a loan. To meet this purpose,\u00a0SBI provides loans to pensioners. Central or State Government or Defence pensioners who are below 76 years old can avail this loan. They need to draw their pension from one of the SBI branches. The loan needs to be &hellip; <a href=\"https:\/\/www.antworksmoney.com\/blog\/sbi-personal-loan-for-pensioners\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;SBI Personal Loan for Pensioners&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-4799","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>SBI Personal Loan for Pensioners | Antworks Money - The Blog on Personal Finance | Guide to Loans, Credit Cards, Insurance and Investments<\/title>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.antworksmoney.com\/blog\/sbi-personal-loan-for-pensioners\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"SBI Personal Loan for Pensioners | Antworks Money - The Blog on Personal Finance | Guide to Loans, Credit Cards, Insurance and Investments\" \/>\r\n<meta property=\"og:description\" content=\"Retired individuals might face financial requirements which compel them to avail a loan. 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