Dena Bank - Senior Citizen Pensioners’ Loan Scheme

Life begins after retirement

You are eligible if:

· You are a pensioner of the State Govt., Central Govt. or PSU.

· You are an ex-staff member with a pension account.

· Loan recovery period is not extending beyond 75 years of age.

· Your take home pension is not less than 60% of your monthly pension after deduction of the loan installment.

Loan Amount:

Up to 6 months pension or rs.50,000/-, whichever is less.

Margin:

NIL

Rate of Interest:

INTEREST CHARGED ON DAILY REDUCING BALANCE

NO PREPAYMENT CHARGES

Security:

NIL

Process Fees:

NIL

Repayment:

Up to 24 EMIs

Guarantee:

Simple! Spouse or nominee appointed for the pension account or any other family member or third party acceptable to the bank can guarantee the account.

This useful information is taken from the bank's web site.

Photo Courtesy: Dena Bank