Eligibility
Regular Pensioners of Defense (Army, Navy, Air Force, Coast Guards, Rashtriya Rifles, Assam Rifles, Special Frontier Force, etc.) and Central Armed Police Forces (CRPF, CISF, BSF, ITBP, SSB, RPF, RPSF, etc.), whose Pension Payment Order is maintained by Centralized Pension Processing Centre (CPPC) of SBI or at PCDA, Prayagraj under SPARSH.
Loan Amount
- Minimum Rs.25,000/-
- Maximum of 36 months’ pension with a ceiling of a Rs.14.00 lacs for pensioners who are up to 56 Years of age.
- Maximum of 18 months’ pension with a ceiling of a Rs.14.00 lacs for pensioners above 56 years of age.
- EMI/NMP (Net Monthly Pension) not to exceed 50%.
Security
- Primary Security: NIL
- Third Party Guarantee: NIL
Processing Fee
- NIL
Repayment
In maximum 72 EMIs commencing from one month after disbursal of loan through SI in the pension receiving a/c for recovery of EMIs.
| Maximum Age at the time of loan sanction | Maximum Repayment Period | Age at the time of full repayment |
| Up to 76 years | 72 months | 78 years |
Top up Loan
- Top-up loan (2nd loan) can be sanctioned to Pensioner and Family pensioner after disbursement of the 1st loan/
- It can only be sanctioned if 1st loan is running regular.
- There cannot be more than 2 Pension Loans standing in the name of a borrower.
- However, this is subject to the overall EMI/NMP ratio of 50% for Pensioner.
- The sum total of outstanding in the 1st loan and limit of 2nd loan in no case should exceed the pensioner’s entitlement at the time of availment of 2nd loan.