ELIGIBILITY

All types of pensioners who are drawing their pension through our branches are eligible. This includes pensioners and Ex-employees of our Bank. PNB’s pre 1986 retirees who are getting ex-gratia are also eligible.

Further, pensioners whose pension is being received by the Bank through Department of Pension Disbursing Office (DPDOs) may also be allowed loan under the Scheme.

PURPOSE

To meet personal needs including medical expenses.

LOAN AMOUNT

- Maximum Rs.1,00,000/- (Rupees one lac only) or amount equivalent to 18 months' net pension, whichever is lower.

- For Pensioners above the age of 75 years, the maximum amount of loan would be Rs.60,000/-.

MARGIN

Nil

RATE OF INTEREST (as on 01/01/07)

Repayable in less than 03 years

BPLR minus 0.25

Repayable in 03 years and above

BPLR minus 0.75 + Term Premia 0.50

PROCESSING FEE

Nil

SECURITY

Guarantee of spouse eligible for family pension to be obtained or of any other family member of means OR a third party guarantee acceptable to the Bank.