The older you are, the more difficult it is for an individual to avail a home loan. For pensioners, it is almost an impossible task. However, Allahabad bank has a housing loan scheme for pensioners. Mentioned below are the details of the mortgage scheme.
In case children or spouse is made co-borrower, there is no limitation on the age. However, if they are made co-owners, the minimum age should be 45 years and the loan should be repaid by the time they turn 70 years.
|Home Loan Interest Rate for Pensioners|
|Minimum||Maximum||Mean Interest Rate|
|Housing Loan Scheme For Pensioners||8.50%||9.10%||8.80%|
Note: Zero processing fee for this home loan scheme.
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