Baroda Loan to Pensioners

Age

• Minimum: 21 years to Maximum:75 years

CIBIL Score

• A CIBIL score of 730 or above is generally considered good for approving a personal loan.

Required Documents

• Completely filled loan application along with 3 passport sized photographs along with Form 135 giving details of Assets and Liabilities of the applicant.
• Proof of residence includes any of Valid passport,Voter id card,Driving license,Post-paid utility bill (gas bill and electricity bill),Updated passbook or bank account statement and Registered rent agreement
• Proof of identity
• Details of Pension /PPO No. etc.

Features

• Pensioner should be drawing pension through the branch for at least last -3- months and his/her account should have been conducted satisfactorily. i.e., no return of cheques for financial reasons.
• Total monthly deductions including proposed EMI and EMIs of existing loans (if any) should not exceed 60% of monthly pension.
• Limit is stipulated based on the classification of Pensioner.
• Regular Pensioners - For age upto 70 years :Rs.8.00 Lacs and For age above 70 years : Rs.5.00 Lacs
• For Family pensioner - For age upto 70 years :Rs.3.00 Lacs and For age above 70 years : Rs.1.50 Lacs
• Applications to be considered on individual basis only. Co-applicants not to be allowed.
• Pensioners/ family pensioners drawing pension through our Bank’s branches.
• Pensioners who are getting their pension disbursed through Treasury/DPDO (Defence Pension Disbursing Office) directly to the credit of their savings accounts with our branches.