IB Pension Loan

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IB Pension Loan

Get the IB Pension Loan with zero margin, low processing fee, and flexible interest from 10.50% to 14.50%. Easy finance for pensioners.

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Details for IB Pension Loan

IB Pension Loan is designed to offer financial support to pensioners with no margin requirement and minimal processing charges of just ₹470. With competitive interest rates ranging from 10.50% to 14.50%, this loan ensures easy access to funds for personal needs. It is ideal for retirees looking for a reliable, quick, and affordable credit option. The key USP is its low-cost structure and the trust of a reputed financial institution.

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Loan Amount

Regular Pensioner Maximum 18 times of monthly pension credit Family Pensioner Maximum 12 times of monthly pension credit

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Interest Rate

10.50% to 14.50%

Age

  • Regular Pensioner - Maximum Entry Age: 75 years and Maximum Exit Age: 78 years
  • Family Pensioner - Maximum Entry Age: 72 years to Maximum Exit Age: 75 years

CIBIL Score

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

Required Documents

  • Pensioner’s portion of PPO
  • Authorization to recover monthly loan installment from SB Account where pension is credited
  • Suitable Guarantor as acceptable to Bank
  • Intimation to PPA

Nature of Employment

  • Central & State Government Pensioners, Family Pensioners, Re-employed Pensioners, IB Retirees (both under VRS & superannuation) whose pension accounts are maintained with our branches

Loan Processing Charges

  • 470/-

Features

  • Margin - Nil

Share with

₹10,000₹1,00,00,000

0%20%

1 Year30 Years

IB Pension Loan EMI Calculator

Principal amount

₹1,00,000

Interest amount

₹542

Total amount payable

₹1,00,542

Your Monthly EMI is ₹8,379
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