Monday, July 14, 2008

BANK OF MAHARASHTRA- ADHAR SCHEME

Purpose:To meet personal expenses, namely, medical, domestic needs, etc.

Eligibility:Central/State Govt./Municipal and such other pensioners, drawing pension through our branches

Amount of Loan: Equivalent to 12 month's pension subject to maximum of Rs 75,000/-

Age criteria :Up to the age of 70 years.

Margin: Nil

Rate of Interest:Click here to view the Interest Rate

Security:Guarantee by the person entitled to pension. In case, there is no beneficiary of Family pension, one acceptable guarantor.

Repayment: Maximum 60 months by equated monthly installments

Processing charges: Nil

Other:Loan shall be disbursed through/maintained at pension paying branch only.
Irrevocable standing instructions to deduct loan installment from monthly pension payable will have to be given.

Availment of the loan under this scheme is subject to closure of earlier loan.
You can avail the loan for maximum two times under this scheme.

There is no processing fee.

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