Punjab National Bank

Punjab National Bank Offers Personal Loan to Pensioners: Eligibility, Loan Limit, and Repayment Details Explained

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Punjab National Bank
New Delhi, June 7, 2025 – In a significant step toward financial inclusion for senior citizens, Punjab National Bank (PNB) is offering personal loans of up to ₹10 lakh to pensioners—even after retirement. The bank has launched a special loan scheme tailored specifically for pensioners, ensuring that age is no longer a barrier to accessing credit when needed the most.

This initiative comes as a welcome relief for many retirees who often struggle to secure loans due to age-related lending restrictions. PNB’s pension loan scheme is structured around pension amount, age, and repayment capacity, offering flexibility and security to eligible borrowers.

Who Can Apply? Loan Eligibility Criteria

Under the scheme, pensioners drawing their pensions through Punjab National Bank can apply for a loan, provided they meet certain age and income criteria.

  • For pensioners up to 70 years of age:

    • Loan amount: ₹25,000 to ₹10 lakh

    • Limit: Up to 18 times the monthly pension amount

    • Defence pensioners: Eligible for up to 20 times the monthly pension

  • For pensioners between 70 and 75 years:

    • Loan amount: Up to ₹7.5 lakh

    • Limit: 18 times monthly pension (20 times for defence pensioners)

  • For pensioners above 75 years:

    • Loan amount: Up to ₹5 lakh

    • Limit: Equivalent to 12 months’ pension only

These guidelines ensure that the borrower’s age and repayment ability are matched appropriately with the sanctioned loan amount.

Repayment Terms: Flexible and Age-Appropriate

PNB allows flexible repayment options, making the scheme viable even for older pensioners.

  • Up to 75 years: Loan to be repaid in up to 60 EMIs (5 years)

  • Above 75 years: Repayment within 24 EMIs (2 years)

This tenure-based repayment ensures that borrowers are not burdened with long-term liabilities at advanced stages of life.

Documentation Charges and Additional Info

Applicants must pay a processing/documentation fee of ₹500 + GST. The scheme applies only to pensioners with accounts at Punjab National Bank, and applications are subject to the bank’s verification and approval protocols.

A Step Toward Empowering Retirees

PNB’s loan scheme offers an essential financial cushion for pensioners who may need funds for medical emergencies, home repairs, family support, or personal needs. With structured repayment plans and dedicated eligibility brackets, the scheme supports the financial independence of retired citizens.

Those interested should refer to PNB’s official website or visit their nearest branch for detailed terms and the application process.

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Kuldeep Singh Chundawat
Kuldeep Singh Chundawat
My name is Kuldeep Singh Chundawat. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.