How to Get SBI Personal Loans to Pensioners | SBI Pension Loan 14 lakhs

Present times are changing very fast. And with the speed at which it is changing, inflation is also rising. And to get rid of this problem some people take loans from various banks, whatever their problem is it gets solved and rightly so. That is why today we will also tell you how you can get a pension loan from State Bank of India i.e. SBI.

Through this How to Get SBI Personal Loans to Pensioners article, we will get information about how to get SBI pension loan, how much interest is charged on it, what documents are required, etc.

How to Get SBI Personal Loans to Pensioners

State Bank of India (SBI) is running a pension loan scheme for retired employees. Under this SBI is giving loan at 9.75% interest. A loan of up to 14 lakh rupees can be taken through this facility. We are telling you about this scheme, so that you can easily get a loan in case of need.

A person below 76 years of age can take a loan

Pension holders of Central and State Governments whose age is less than 76 lakhs can apply for it.
His pension payment order should be with the State Bank of India.
The pension holder has to give an undertaking that he will not change his mandate to the Treasury during the loan period.
You will get a loan of up to 14 lakh rupees. The loan amount depends on your age. If you take a loan at the age of 72, you can get a maximum loan of 14 lakh rupees.

SBI Pension Loan
How to Get SBI Personal Loans to Pensioners : Retirement has become more enjoyable with SBI Pension Loan. Fund your child’s wedding, buy your dream home, plan a trip, or get medical assistance with easy and hassle-free loans and repayments.

SBI Pension Loan : Benefits and Features
Following are the benefits and features of SBI Pension Loan:

Low processing fees.
There are no hidden costs.
Fast loan processing.
Easy EMI by SI.
Minimal documentation.
You can apply in all branches of SBI.
SBI Pension Loan : Eligibility
SBI Pension Loan must have the following eligibility.

For Pensioners of Central and State Govt

Pensioners should be below 76 years of age.
Pension payment order is maintained with SBI.
The pensioner gives an irrevocable undertaking to the Treasury not to amend its mandate during the tenure of the loan.
Treasury to agree in writing that no request by a pensioner to transfer his pension payment to any other bank shall be entertained unless NOC is issued.
All other terms and conditions of the scheme will apply, including guarantee by spouse (eligible for family pension) or an eligible third party.
For Defense Pensioners

Pensioners of Armed Forces including Army, Navy and Air Force, Paramilitary Forces (CRPF, CISF, BSF, ITBP, etc.), Coast Guards, Rashtriya Rifles and Assam Rifles.
Pension payment order is maintained with SBI.
There is no minimum age bar under the scheme.
Maximum age should be less than 76 years while processing the loan.
For family pensioners

Family pensioners include family members authorized to receive pension after the death of the pensioner.
Family pensioner should not be more than 76 years of age.
SBI Pension Loan : Interest rates & Fees

How to Apply Online for SBI Pension Loan?
To apply for SBI personal loan, first of all you bank account holders have to visit the loan page of its official website.
After landing on this page, you will find the SBI Pension Loan section, in which you will get the option of Apply Now, which you have to click on.
Now you have to enter the requested information here and click on Proceed option.
After clicking, a page with loan offer will open in front of you, where you will be given attractive personal loan options, out of which select SBI Pension Loan option and click on proceed option.
After clicking, its application form will open in front of you, which you have to fill carefully.
All required documents have to be scanned and uploaded.
Finally, you have to click on the submit option after which you will get the receipt which you have to print and complete the steps as mentioned by the bank.
By following all the above steps, all you bank account holders can easily get a personal loan of their choice and avail its benefits.

SBI Pension Loan – Helpline
Address Real Estate and Housing Business Unit,
State Bank of India,
Corporate Centre, Madam Cama Road,
State Bank Bhawan, Nariman Point,
Mumbai-400021, Maharashtra
Toll free no. 1800 112 211
1800 425 3800
080 26599990
Loan Application Apply Now Online

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