|
IB PENSIONERS LOAN SCHEME
|
|
| Eligibility/Target Group |
Purpose |
Central & State Pensioners, Family Pensioners, Re-employed Pensioners, IB Retirees under VRS
|
Expenses towards Medical, Education, Family function, Domestic function
|
| Quantum of Loan |
Rate of Interest w.e.f 11.08.2008 |
10 months pension with a maximum of Rs.60,000/-
|
BPLR minus 0.50% i.e. 13.50 % floating
|
| Repayment |
Margin |
24 months including interest (30 EMI on a case to case basis)
|
---
|
| Security |
Service Charges |
- Authorisation to recover from pension
- Undertaking from legal heir/nominee
- Pensioners' PPO
- Intimation to PPA
|
Rs 100/- if loan amount is more than Rs 25,000/-
|
