Prasanthi Elite Loan
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Name |
Prasanthi Elite Loan |
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Eligibility |
All
central, civil, defence, railways, telecom,KSRTC,KSEB,KWA,KAU, state Govt.
and SBT pensioners/Family pensioners whose pension accounts are maintained
with us
Family pensioner who should not be more than 65
years of age. |
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Loan amount |
Pensioners:
Max. of 12 months net pension with a ceiling of Rs. 5.00 lac Family pensioners: Max. of 9 months net family pension with a ceiling of Rs. 1.50 lac Repayment
obligation may be restricted to 50% of the net monthly pension for regular
pensioners and 25% for family pensioners. |
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Collateral security |
Pensioners:
TPG of the spouse eligible for family pension. In the absence of the spouse,
TPG of any other family member or a third party worth the loan amount. Family
pensioners: TPG of a person who has been maintaining account with the bank,
preferably son/daughter of the family pensioner. |
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Repayment period |
In EMIs
commencing from the pension payable one month after disbursal of loan.
Instalment is deducted at the time of payment of pension.
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