PNB Senior Citizens/Pensioners Personal loan

The PNB Personal Loan simplifies financial management for retirees receiving pensions through the bank. This convenient loan option empowers them to address personal and medical expenses during their golden years. Eligible applicants can access loans up to ₹ 10 lakhs without collateral. This accessible solution provides pensioners immediate financial support to embrace their well-deserved retirement.

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Table of Content

1. PNB Personal Loan for Senior Citizens/Pensioners Highlights

2. Compare PNB Senior Citizens/Pensioners Loan with other banks

3. PNB Personal Loan for Senior Citizens/Pensioners Fees and Charges

4. PNB Personal Loan for Senior Citizens/Pensioners Documents Required

5. PNB Personal Loan for Senior Citizens/Pensioners Eligibility Criteria

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PNB Personal Loan for Senior Citizens/Pensioners – Highlights

Features	Description
Who Are Eligible?	Pensioners drawing pension through PNB branches.
Maximum Loan Amount	Up to ₹10,00,000 for ages ≤70 years Up to ₹7.5 lakh for ages 70-75 years Up to ₹5 lakh for ages >75 years
Loan Tenure	Term Loan: Up to 60 months or age 78, whichever is earlier. Overdraft: Up to 60 months or age 78, whichever is earlier
Margin	Nil
Upfront Fee	No processing fees; Documentation charge of Rs. 500
Collateral/Security	Spouse’s guarantee eligible for family pension Guarantee of earning children or third-party guarantee acceptable to the bank

Compare PNB Senior Citizens/Pensioners Loan with other banks

Bank	Interest Rate
United Bank of India	MCLR (One Year) + 4.65%, which is 12.65%
Bank of India (BOI)	10.50% onwards

PNB Personal Loan for Senior Citizens/Pensioners – Fees and Charges

The PNB Personal Loan for Senior Citizens/Pensioners involves no processing fees. However, a nominal documentation charge of Rs. 500 is applicable.

PNB Personal Loan for Senior Citizens/Pensioners – Documents Required

To apply for the PNB Personal Loan for Senior Citizens/Pensioners, applicants must submit their

Pension payment order
ID proof
Address proof
Income documentation

Guarantee forms from eligible guarantors might be required to secure the loan.

PNB Personal Loan for Senior Citizens/Pensioners – Eligibility Criteria

PNB offers a Personal Loan specifically for pensioners who receive their pension through PNB branches. This loan helps cover personal and medical expenses for eligible seniors.