Limit Rs.10,00,000/- (Rupees ten lakhs only) or amount equivalent to 15 times monthly pension whichever is lower.
2.
Eligibility
All type of pensioners drawing their pension through our branches. This includes family pensioners and ex-employees of our Bank.
At the time of processing of loan the borrower’s place of residence should be at Chandigarh / Distt. Panchkula.
3.
Purposes
To meet personal needs including medical expenses.
4.
Repayment
60 equated monthly instalments (EMIs) comprising of principal & interest OR upto the age of 70 years, whichever is earlier.
5.
Margin
NIL.
6.
Security
Guarantee of spouse eligible for family pension to be obtained or of any other family member of means OR a third party guarantee acceptable to the Bank.
7.
Rate of Interest
11.25% (Fixed ) for Public, given CIBIL score is >=800 9.75% (Fixed ) (Harco bank staff)
0.50% Processing fee
NIL pre-closure or hidden charges.
*For more details, read the detailed scheme attached below.
NIL pre-closure or hidden charges.
