Senior citizens in need of funding can look to PNB (Punjab National Bank) which has launched special loan schemes designed for them. Pensioners may come across times when they are in dire need of money to meet a financial requirement (such as medical expenses). The PNB Personal Loan Scheme for Pensioners is a personal loan with low interest rate that pensioners can use when times are tough.
|Loan Products||Parameters||Rate of Interest (Based on MCLR of 1 year)|
|Pension loan||Demand loan/ Term loan/Overdraft||MCLR+2.60%||12.00%|
Marginal Cost of Funds Based Lending Rate (MCLR) with effect from 01.06.2016 as under:-
|Type of MCLR||Rate (%)|
|One month MCLR||9.20|
|Three months MCLR||9.30|
|Six months MCLR||9.35|
|One year MCLR||9.40|
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