Among other loans offered by Indian Bank (established on 15the August, 1907), Indian Bank Pension Loan is also available for consumers. We, at moneysuperbazaar, in this Indian Bank Pension Loan review, will provide comprehensive information about the Indian Bank Pension Loan eligibility criteria, Indian Bank Pension Loan interest rate and other kinds of Indian Bank Pension Loan rate and charges. The Indian Bank Pension Loan is offered to pensioners to meet expenses towards medical, education etc.

Indian Bank Pension Loan Interest Rate:

The Indian Bank Pension Loan rate is based on the following two:

Base rate i.e. 9% w.e.f 13.12.2010

Benchmark Primary Lending Rate is 13.5% w.e.f. 21.01.2011

Indian Bank Pension Loan Eligibility Requirements:

1)     Interested person can either be a:

a)  Central or state government pensioner,

b)     Family Pensioners,

c)     Re-employed Pensioners,

d)     Indian Bank Retirees both under VRS and superannuation.

2)     Persons whose Pension SB accounts are maintained at Indian Bank.

Indian Bank Pension Loan eligibility clearly elucidates that the person must be a pensioner, and his account must be maintained at Indian Bank, as is clearly evident from this Indian Bank Pension Loan review.

Quantum/ Amount of loan offered through Indian Bank Pension Loan

Procedure to apply for pension loan:

The procedure to apply for this loan along with necessary documents attracts processing fees as follows:

Application for loan amount up to Rs.25000/-    NIL

Above Rs.25000/- Rs. 250/-

Tenure Of Indian Bank Pension Loan:

The repayment period stands at a maximum of 36 months. The Indian Bank Pension Loan interest rate does not fluctuate during the entire period of Indian Bank Pension Loan.

Repayment of the Indian Bank Pension Loan:

Repayment of loan should be done within a period of 36 months through equated monthly installments, over the period of the loan tenure, as also stated in Indian Bank Pension Loan review. The monthly installments includes amount of interest based on Indian Bank Pension Loan interest rate along with principle repayment amount. However installment is summation of interest amount based on Indian Bank Pension Loan rate and principle part of loan availed.

Information available on this Indian Bank Pension Loan review can be validated through the Following Links Of Official Website Of Indian Bank:

Product page url: http://www.indianbank.in/loans.php?by=11&ty=1

or visit at http://www.indian-bank.com/

Branch office address: