Bank of Baroda provides a specific loan that is aimed at regular or family pensioners, including retired staff of Bank of Baroda and/or their family pensioners. This loan features low interest rates and fast approval times.
The loan can be utilised for business or personal needs, but can’t be utilised for any speculative purposes.
The eligibility criteria to be met in order for the institution to be able to sanction the loan include the following entities -
The financing modes allowed under the Pensioner Loan is a term loan.
The total monthly deductions with all EMIs should not exceed 60% of monthly pension.
The repayment duration can be anywhere from 3 years to 5 years as the maximum time.
The standard list of required documents for applying for this loan are mentioned as follows –
The Pensioner Loan from Bank of Baroda is an unsecured loan that requires no guarantors or collaterals and is a really good financing option for pensioners to meet any kind urgent personal or business need.
The loan period can be of 60 months and the loan processing time is very less when compared to other business or personal loans. The loan process involves minimal documentation.
Through Bank of Baroda’s website the forms can be downloaded, filled and submitted along with relevant documents at a local branch. Additionally, one could call or mail Bank of Baroda requesting an executive assistance for application process.
Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.