Regular pensioners or family pensioners drawing regular monthly pension through the branch.
Retired employees (other than dismissed/compulsorily retired)
Type of Advance
Demand Loan/Term Loan/Overdraft (reducible as per repayment schedule)
Quantum of Advance DL/TL/OD (reducible as per repayment schedule) Overdraft [Pensioner' Credit Card holder not eligible]
Where PPO is held with Nagpur Govt. Business Branch (Max. Rs. 10 lacs)
Pension directly received at Branch from Treasury /DPDO (Max. Rs. 5 lacs)
Family pensioner who is getting pension through Treasury/ Defence Pension Disbursing Office (Max. Rs. 3 lacs)
Unsecured:-
15 months of net pension (Gross Income less Income Tax and EMI of other loan, if any)
Secured:-
20 months of net pension
[Proponent/borrower may be sanctioned more than one loan (i.e. two accounts – one for secured and other for unsecured/clean loan) under the scheme, depending upon eligibility].
Net take home Pension
The net take home pension after deduction of loan instalment should be at least 40% of the pension amount
