Check ✔ Pension Loan Interest Rates ✔ Eligibility ✔ Processing Fee ✔ Tenure ✔ Loan Amount  ✔ Documents ✔ EMI. You can calculate monthly emi with SBI Pension Loan EMI calculator.

SBI Pension Loan is a one type of SBI Personal Loan. You can avail of a pension loan from State Bank of India to meet your personal expenses like unexpected need for funds or fulfil other financial requirements.

SBI Pension Loan Interest Rate

Interest Rate 12.40% (spread over 2 year MCLR i.e 8.05% + 4.35%)
Processing Fee Nominal processing fees (Nil Processing Fees for Defence Pensioners)
Loan Amount Minimum Rs. 25,000/- to Maximum Rs. 14 lakh
Age Limit Upto 76 years
Prepayment Charges Upto 3% on prepaid amount
Guarantee PG of Spouse eligible for family Pension
Margin Nil

Eligibility For SBI Pension Loan

  1. For Central & State Government Pensioners – The pensioner should not be more than 76 years of age In addition, pensioners whose pensions are disbursed by Government Treasuries.
  2. For Defence 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.
  3. For Family Pensioners (including Defence Family Pensioners) – Family pensioner, i.e. spouse authorized to receive pension after the death of the pensioner, subject to condition that family pensioner should not be more than 76 years of age.
  4. Age should not be more than 76 years.

Eligible Loan Amount For SBI Pension Loan

For Central & State Government Pensioners – Maximum : 18 months’ Pension with a ceiling of.

Age Max Loan Amount
= 72 Years Rs 14.00 lac
> 72 but = 74 years Rs 12.00 lac
> 74 but = 76 years Rs 7.50 lac

For Defence Pensioners – 36 months’ Pension with a ceiling of RS 14.00 lac for Pensioners who are up to 56 years of Age.

Age Max Loan Amount
> 56 but = 72 years Rs 14.00 lac
> 72 but = 74 years Rs 12.00 lac
> 74 but = 76 years Rs 7.50 lac
NoteEMI / NMP not to exceed 50% in all the cases for all type Pensioners.

For Family Pensioners (including Defence Pensioners) – Maximum : 18 months’ Pension with a ceiling of.

Age Max Loan Amount
= 72 years Rs 5.00 lac
> 72 but = 74 years Rs 4.50 lac
> 74 but = 76 years Rs 2.50 lac
NoteEMI / NMP not to exceed 33% in all the cases for Family Pensioners.

Age And Repayment Period For SBI Pension Loan

For Central and State Government Pensioners

Age at the time of Loan sanction Repayment Period Age at the time of full Repayment
Up to 72 years of Age 60 months 77 years
More than 72 years and up to 74 years 48 months 78 years
More than 74 years and up to 76 years 24 months 78 years

For Defence Pensioners

Age at the time of Loan sanction Repayment Period Age at the time of full Repayment
Up to 56 years 84 months 63 years
More than 56 years and up to 72 years 60 months 77 years
More than 72 years and up to 74 years 48 months 78 years
More than 74 years and up to 76 years 24 months 78 years

For Family Pensioners (including Defence Pensioners)

Age at the time of Loan sanction Repayment Period Age at the time of full Repayment
Up to 72 years of Age 60 months 77 years
More than 72 years and up to 74 years 48 months 78 years
More than 74 years and up to 76 years 24 months 78 years

SBI Pension Loan EMI Calculator

Below pension loan emi calculation is given based on various loan amount, at 5 years of repayment period and 12.40% of rate of interest.

Loan Amount Tenure In Years Interest Rate Monthly EMI
25000 5 12.40% ₹561.18
50000 5 12.40% ₹1,122.36
100000 5 12.40% ₹2,244.71
200000 5 12.40% ₹4,489.42
300000 5 12.40% ₹6,734.13
400000 5 12.40% ₹8,978.84
500000 5 12.40% ₹11,223.55
600000 5 12.40% ₹13,468.27
700000 5 12.40% ₹15,712.98
800000 5 12.40% ₹17,957.69
900000 5 12.40% ₹20,202.40
1000000 5 12.40% ₹22,447.11
1100000 5 12.40% ₹24,691.82
1200000 5 12.40% ₹26,936.53
1300000 5 12.40% ₹29,181.24
1400000 5 12.40% ₹31,425.95
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SBI Pension Loan Interest Rates – Jan 2019, Eligibility

5 thoughts on “SBI Pension Loan Interest Rates – Jan 2019, Eligibility

  • March 17, 2018 at 7:41 pm
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    Need Personal Loan [Defence Pensioner]. Need 2 lakhs. Repayment for 2 years. Please calculate accordingly and let me know sir.

    Reply
  • March 27, 2018 at 8:33 am
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    Personal loan

    Reply
  • May 14, 2018 at 4:12 pm
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    Sir ji meri mother ko family pension milti h. Pension 13000/-Rs h. Khya family pension loan mil sagata h. mother ki age 65year h. Khya 250000/-Rs mil sagte h

    Reply
  • August 16, 2018 at 9:12 pm
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    Sir ji mere papa ki age 64 years he aur vo CISF se VRS volunteer retier huye he unki pension 13417 he to unhe sbi nahi to kisi bhi bank se maximum kitna pension mil sakta he , humne sbi me cheak kiya to vo 160000 se jyada deneka nahi bol rahe he … Sir ji please bataye

    Reply
  • November 2, 2018 at 4:15 pm
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    My mother needs loan for home renovation her pension is 24700 her age is 65 is she eligible for loan? Waiting for reply

    Reply

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