📘 What is SBI Pension Loan?
SBI Pension Loan is designed for retired individuals, government pensioners, defence personnel, and family pensioners who need quick access to funds for personal needs like medical expenses, home repairs, weddings, or emergencies. The loan comes with minimal paperwork, fast approval, and low interest rates.
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💰 Interest Rates & Key Features
- Interest Rate: 10.50% – 12.50% p.a.
- Loan Tenure: Up to 7 years
- Loan Amount: ₹25,000 – ₹14 lakh
- No hidden charges & flexible EMI options
- Available both online (YONO) & offline
📄 Eligibility Criteria
- Applicant must be a Central/State Government pensioner or Defence pensioner.
- Minimum Age: 38 years
- Maximum Age: 76 years at loan maturity
- Account must be with SBI branch handling pension account.
- Family pensioners are also eligible.
🧾 Documents Required
- PAN Card & Aadhaar Card
- Pension Payment Order (PPO)
- Passport-size photographs
- Bank statement of last 6 months
- Proof of address and identity
🏦 Loan Repayment & Security
- Loan repayment through EMI deduction directly from pension account.
- Repayment period flexible from 12 to 84 months.
- One guarantor required (preferably spouse or eligible family member).
🌟 Benefits of SBI Pension Loan
- Fast disbursal — often within 24 hours.
- Special lower interest for Defence Pensioners.
- Easy top-up facility for existing borrowers.
- Insurance coverage through SBI Life Rinn Raksha.
- Online EMI calculator for planning repayment.
- No need for salary slip or income proof.
🧮 EMI Calculator
Use this simple calculator to estimate your EMI:
🔗 Useful Internal Links
Disclaimer: This article is for informational purposes only. All details about interest rates, eligibility, and benefits are subject to SBI’s official updates. Please refer to the official State Bank of India website before making any decisions.