Loan Options after Retirement: If you need a loan after 60, you can apply in these government banks..

Loan Options for Senior Citizens: Most people think that the elderly do not get loans because the elderly do not have any solid means of earning, so banks do not consider them reliable in terms of loans. But this is not completely true. If you are a pensioner, then you can get loan options in many banks even after the age of 60. Here we will tell you about Punjab National Bank and State Bank, from where senior citizens can take loans if needed and can easily complete their pending work with the loan amount.

Loan Scheme for Senior Citizens in PNB
Punjab National Bank runs a loan scheme for the elderly, it is called 'Personal Loan Scheme For Pensioners'. The loan amount on this loan scheme is decided according to the pension. If your age is up to 70 years, then under this scheme, a minimum of 25 thousand and a maximum of 10 lakh rupees or 18 times the pension amount can be taken as a loan. Defense pensioners can take up to 20 times their pension as a personal loan.

When will the loan have to be repaid
The rules are different for people above 70 years of age. After taking a loan, pensioners have to repay the loan in a maximum of 60 installments i.e. within 5 years. At the same time, people above 75 years of age have to repay the loan in a maximum of 24 installments i.e. in two years. 500 rupees + GST ​​is taken as documentation charges.

SBI loan scheme
Under the State Bank of India Pension Loan Scheme, pensioners are given the facility to take a loan. How much amount you can get as a loan depends on your pension.

These are the rules related to the loan
This loan available for pensioners is like a personal loan. To avail of this, the pension payment order of the loan taker must be with the State Bank of India.
To apply for a pension loan from SBI, the age of the pensioner should be less than 76 years.
The pensioner will have to give in writing that during the loan period, he will not amend his mandate given to the Treasury.
The Treasury will have to give in writing that until a no objection certificate is issued from the bank,
the Treasury will not accept the request of the pensioner to transfer the pension payment to any other bank.
The loan repayment period is 72 months, which has to be repaid by the age of 78 years.

You can contact me in this way
If you want to get other information related to SBI loans, then you can visit the official website of SBI https://sbi.co.in/. Apart from this, you can get information related to this by dialing the toll-free number 1800-11-2211. You can also apply for a pension loan from this number. To get a call back from SBI's contact center, give a missed call to 7208933142 or send an SMS by typing 'PERSONAL' to 7208933145.

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