
Mahabank Aadhar Loan Scheme
S.No. | Particulars | Scheme guidelines |
---|---|---|
Name of the scheme | Mahabank Aadhar Loan Scheme | |
Purpose of loan | Personal expenses - medical, pilgrimage domestic needs, etc. | |
Eligibility | Central/ State Government/ Municipal Corporation/ PSUs and Family Pensioners drawing pension from our branches | |
Min Annual Income | Not applicable | |
Maximum Quantum of Finance | For eligible Pensioners other than BOM staff: Equivalent to 18 months pension subject to maximum of 1. Rs.4.00 Lakhs up to age of 65 Yrs. 2. Rs.3.00 Lakhs up to age of 70 Yrs. 3. Rs.2.00 Lakhs up to age of 73 Yrs. For BOM Staff Pensioners: Equivalent to 18 months pension subject to maximum of 1. Rs.6.00 Lakhs up to age of 65 Yrs. 2. Rs.4.50 Lakhs up to age of 70 Yrs. 3. Rs.3.00 Lakhs up to age of 73 Yrs. | |
Margin | Nil | |
Repayment Period | 60 EMI, Subject to 77 years of age at loan maturity | |
Rate of Interest | ||
Deduction | Pension upto Rs.12500/- => 40% of gross monthly pension Pension above Rs.12500/-=>50% of gross monthly pension | |
Security |
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Processing Fee | 0.50% of the Loan Amount (Min.:Rs.500/-) |