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    State Bank of Hyderabad (SBH) Prashanti Scheme

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    15.25% - 15.75% Floating
    1% (min. ₹1000) One time fee
    25,000 - 7.5L
    1-3 Years
    Response Time Within 30 minutes
    Documents
    Perks
    Think about
    Eligibility Criteria
    Personal Loan BYTES FROM OUR KITCHEN

    What is a Prashanti Scheme?

    State Bank of Hyderabad is one of the oldest and most trusted banks in South India. Established in 1941, the bank offers a host of financial products and services including the Prashanti Scheme – a facility designed to help pensioners meet personal expenses such as marriage of children, medical expenses, etc.

    For what purposes can a SBH Prashanti Scheme be used?

    Pensioners can avail the Prashanti Scheme from State Bank of Hyderabad to pay for personal expenses such as child marriage, medical expenses, etc.

    Who can avail a SBH Prashanti Scheme?

    Retired individuals who derive a monthly income by means of pension can avail this loan.

    What is the loan amount that can be availed under this scheme?

    The maximum amount can be borrowed through this scheme is the equivalent of 12 months net family pension not exceeding Rs.7.50 lacs if the pensioner is under 72 years of age. The only criterion to this is that the EMI should not be more than 40% of net family pension. If the pensioner is more than 72 years old but under the age of 75 years, the maximum amount that can be availed is the equivalent of 12 months net pension not exceeding Rs.2 lacs. The only criterion for pensioners under this age group is that their EMI cannot be more than 40% of net pension.

    What are the eligibility criteria that must be satisfied to avail the Prashanti Scheme?

    All Central and State government pensioners, including Telecom, Railways and Defence retirees and pensioners of banks who have their pension accounts managed by SBH or its branches are eligible for the Prashanti Scheme. If the pensioner is under 72 years of age when availing the scheme, he/she must be under 74 years of age when they fully repay the loan. If the pensioner is between 72 years and 75 years of age when availing the scheme, they must be under 77 years of age when the loan is fully repaid.

    What is the rate of interest applicable to the SBH Prashanti Scheme?

    The interest rate for State Bank of Hyderabad (SBH) Prashanti scheme is the base rate plus 4.50%, making the current rate 14.55%.

    What is the repayment tenure for this scheme?

    The maximum repayment period for the State Bank of Hyderabad (SBH) Prashanti Scheme is 36 months.

    What kind of collateral security is applicable to this scheme?

    Pensioners will have to provide the guarantee of their spouse to gain eligibility for family pension. In case the spouse is deceased, a third party or another member of the family can act as guarantor for the amount borrowed.

    What are the documents required to avail SBH Prashanti Scheme?

    Customers will have to furnish the following documents to avail the SBH Prashanti Scheme: Letter of waiver Application-cum-authority letter DP note delivery letter DP note that should be signed by the pensioner in favour of guarantor and endorsed by the guarantor in favour of the bank

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