Multiple banks. Different interest rates. Call it a "conflict of interest".
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    We found 1 Indian Bank Pension Loan

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    -
    0.51% (max. ₹510) One time fee
    50K - 1L
    3 Years
    Response Time Within 30 minutes
    Documents
    Perks
    Think about
    Eligibility Criteria

    Indian Bank Pension Loan is Rated as "Excellent!" by 15 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

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    Overview about Indian Bank Pension Loan

    Post retirement, government employees get a monthly cash flow in the form of pension. Though this amount is lesser than the salary that they used to earn, it is provided to take care of their monthly expenditure. Apart from this, it is quite likely that a sudden situation may compel a pensioner to organise a lump sum and he/she might have to resort to taking a loan. Indian Bank offers loans to pensioners to meet their financial needs arising out of situations like medical emergencies, marriage of children, educational expenses, family functions, etc.

    Features and Benefits of Indian Bank Pension Loan

    • This loan is provided to pensioners to meet their financial needs arising out of situations like medical emergencies, marriage of children, educational expenses, family functions, etc.
    • The loan can be availed by ex-employees of Central and State Government, family Pensioners, re-employed pensioners.
    • Ex-employees of Indian Bank who have their pension SB accounts at an Indian Bank Branch can avail the loan.
    • This loan facility is not extended to retirees of CRS and EPF pensioners.
    • The loan quantum for a regular pensioner is his 15 months’ pension. This can extend up to a maximum of Rs. 6 lakhs.
    • If the borrower is a family pensioner, he can avail a loan of up to his 12 months’ pension. This can extend only up to a maximum of Rs. 2 lakhs.
    • For a regular pensioner the maximum entry age limit is 75 years and exit age limit is 78 years. The entry and exit age limits for the family pensioners are 70 and 73 years, respectively.
    • The spouse can act as a guarantor for a family pensioner. Any credible third party, legal heir or family member can also act as a guarantor.
    • Every pensioner’s part of PPO should be substantiated with documents. He should also provide an agreement saying that he will not move the pension credited in his Indian Bank account to any other bank, during the tenure of the loan.
    • The loan repayment tenure for a regular pensioner is a maximum of 60 months with respect to the exit age being 78 years. For a family pensioner it is 36 months and exit age limit is 73 years.
    • The loan margin is nil.

    Indian Bank Pension Loan Interest rates

    Indian Bank offers loans to pensioners at affordable rates of interest. To attain further clarity on this, please contact the nearest Indian Bank branch.

    Eligibility

    • The loan can be availed by ex-employees of Central and State Government, family Pensioners, re-employed pensioners.
    • Ex-employees of Indian Bank who have their pension SB accounts at an Indian Bank branch can avail the loan.
    • This loan facility is not extended to retirees of CRS and EPF pensioners.

    Other fees and charges

    If the loan amount is up to 25,000 then there are no processing charges, if the loan amount is above Rs. 25,000 then processing fee of Rs. 255 is levied.

    Indian Bank Pension Loan Frequently Asked Questions (FAQs)

    1. What is the loan quantum provided for Indian Bank pension loan?

      The loan quantum for a regular pensioner is his 15 months’ pension. This can extend up to a maximum of Rs. 6 lakhs. If the borrower is a family pensioner, he can avail a loan of up to his 12 months’ pension. This can extend only up to a maximum of Rs. 2 lakhs.

    2. I am an EPF pensioner. Can I avail Indian Bank Pension Loan?

      No, this loan facility is not extended to retirees of CRS and EPF pensioners. However, the loan can be availed by ex-employees of Central and State Government, family Pensioners, re-employed pensioners. Ex-employees of Indian Bank who have their pension SB accounts at an Indian Bank branch can also avail the loan.

    3. What is the processing fee levied on Indian Bank Pension Loan?

      If the loan amount is up to 25,000 then there are no processing charges, if the loan amount is above Rs. 25,000 then processing fee of Rs. 255 is levied.

    4. What is the loan margin provided for Indian Bank Pension Loan?

      The loan margin provided is NIL for Indian Bank Pension loan.

    5. I am a regular pensioner. For what purposes can I avail a pension loan from Indian Bank?

      Indian Bank offers loans to pensioners to meet their financial needs arising out of situations like medical emergencies, marriage of children, educational expenses, family functions, etc. You can avail the loan to fund one of the aforementioned purposes.

    6. Do I need a guarantor to avail this loan? If so, then who can be my guarantor?

      The spouse can act as a guarantor for a family pensioner. Any credible third party, legal heir or family member can also act as a guarantor.

    7. Do I need any special document to avail this loan?

      Yes, every pensioner’s part of PPO should be substantiated with documents. He should also provide an agreement saying that he will not move the pension credited in his Indian Bank account to any other bank, during the tenure of the loan.

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  • Indian Bank Pension Loan Reviews

    • Indian Bank Personal Loan
      "Excellent services"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from Indian bank. This is an easy loan facility, where I can renew the loan once I have completed my tenure. Else I can also pre close the same without a fee taken. The interest offered is very low on these loans as I am a government employee. There are no processing charges as well taken for the loan.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 15, 2016
    • Indian Bank Personal Loan
      "So easy to take a loan "
      0.5 4.0/5 "Great!"
      Since I am holding my salary account with INDIAN bank got my personal loan easily from them. Based on my P F amount they have offered this loan. 3.4 lakhs I have taken with the higher rate of interest. Monthly EMI is around 12k but I am planning to pre close this loan after some time. There is no pre closing charges with this bank.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 24, 2015
    • Indian Bank Personal Loan
      "More than happy..."
      0.5 5.0/5 "Blown Away!"
      Interest rate is about 1.5% per month in Indian bank for the personal loan. One time charge was 650 rupees for the loan amount 84 thousand. The tenure is 36 months. I received the personal loan amount from Indian bank within 2 days of time, which is very short duration.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 17, 2015
    • Indian Bank Personal Loan
      "Satisfied.."
      0.5 4.0/5 "Great!"
      Indian bank moved the personal loan immediately as they processed within 5 days. Indian bank offered me limit of one lakh but I got 50 thousand only. Interest rate was about 15%. In respect to customer service Indian Bank is not up to mark however branch banking is very good.
      Was this review helpful? 1
      , chennai
      Reviewed on Nov 17, 2015
    • Indian Bank Personal Loan
      "Zero processing fee"
      0.5 5.0/5 "Blown Away!"
      This personal loan was offered by INDIAN Bank. They did not provide any discount on the interest rate. Processing fee has been waived that is one notable feature of the loan. Process was very simple. There is no drawback and they have not provided any papers works for this loan and however they had got the document signed by me.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 20, 2015
    • Indian Bank Personal Loan
      "Best rate of interest "
      0.5 4.5/5 "Excellent!"
      INDIAN bank is the best to provide less rate of interest for the personal loans. For quite long I am holding my salary account with them. In 2014 I have taken this personal loan from them and still 15 months EMI need to pay. The bank branch is located very near to my office.The best part is they will inform the customers about the documents list to keep it ready.
      Was this review helpful? 2
      , vellore
      Reviewed on Oct 15, 2015
    • Indian Bank Personal Loan
      "Closed it"
      0.5 4.0/5 "Great!"
      INDIAN bank is very smooth in personal loan processing. I have my savings account with them. It was quite long back I closed my personal loan with them, When I took this loan I was not much aware about private banks. This is the only bank option I got that time and it was better experience to me.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 12, 2015
    • Indian Bank Personal Loan
      "Good service "
      0.5 4.0/5 "Great!"
      I had a very good experience with Indian Bank based on the personal loan experience.I havenâ??t faced any difficulties with the Bank based on the process.The charges and rate applied for the loan was quite nominal as they are a government bank.They have taken around a months time to process and its a hassle free process with Indian Bank.The manager was very responsive towards the customer.
      Was this review helpful? 1
      , bangalore
      Reviewed on Sep 18, 2015
    • Indian Bank Personal Loan
      "Not recommended"
      0.5 0.5/5 "Unacceptable"
      I am not interested in taking a personal loan with Indian Bank because they are very poor towards the customer in response.I am not at all comfortable with the service and they are dominating customer who come for loan process.They donâ??t even hear to customer words.I will never recommend about this bank to others.
      Was this review helpful? 5
      , bangalore
      Reviewed on Aug 24, 2015
    • Indian Bank Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      The main reason I have taken my loan from Indian Bank is because of the rate of interest. The bank has a facilitated system where they have given my loan for my business purpose. They have helped me at the time of my requirement. The services was good from them and the process was quick.
      Was this review helpful? 1
      , kolkata
      Reviewed on Jul 09, 2015
    • Indian Bank Personal Loan
      "best banking services"
      0.5 5.0/5 "Blown Away!"
      I got the personal loan with Indian bank.Its the best bank because I got the loan in the same day when I applied with them.The rate of interest is around 10%. Clearly saying that I applied with them by 10:30 pm and I got the loan in the same day of 1:30pm.
      Was this review helpful? 1
      , pondicherry
      Reviewed on Jun 08, 2015
    • Indian Bank Personal Loan
      "Fantastic"
      0.5 5.0/5 "Blown Away!"
      I recently had a fantastic experience of availing a personal loan from Indian bank. The documentation was very simple as there were no much documents requested by the bank and the processing was very fast. They disbursed my loan in just 2 days of time. Also they offered me the lowest interest rate of all the banks.
      Was this review helpful? 1
      , chennai
      Reviewed on Nov 06, 2014
    • Indian Bank Personal Loan
      "Mind blowing services!!"
      0.5 5.0/5 "Blown Away!"
      I got this personal loan before 2 years and had submitted the renewal form to this bank. The loan amount eligible is only 60,000 because of not having salary account with Indian bank. Interest rate around 13% and then per month 3300 has to be paid. There are no pre closure charges. Services are so nice. Through this Internet banking, i can see all information.
      Was this review helpful? 3
      , chennai
      Reviewed on Aug 22, 2014
    • Indian Bank Personal Loan
      "Excellent response through Online"
      0.5 4.5/5 "Excellent!"
      Indian bank replies to their customer within 4 hours and immediately take neccessary actions. loved their responses. And they provided some 9% interest for Fixed deposits which they have reduced it to 8.75% now was somewhat a backlog for the customers but overall its a good bank to invest!
      Was this review helpful? 1
    • Indian Bank Personal Loan
      "safe banking"
      0.5 5.0/5 "Blown Away!"
      I have my salary account in Indian Bank and they provided me personal loan which is exclusively for salaried employees and the interest charged is very less when a comparison is done with the other banks. Indian Bank's netbanking is secured,for all transactions that i do,I receive one time password and only with that i can proceed further for the money transfer.
      Was this review helpful? 3
      , kanchipuram
      Reviewed on Apr 21, 2014
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