21/04/2021
Home Loan For Pensioners
Eligible Applicants
Retired from PSU insurers, PSUs, Nationalized Banks, Central Govt. & State Govt. and drawing pension under Defined Benefit Pension Schemes (DBPS) who are upto 65 years of age as per last birthday.
Working with PSU Insurers, PSUs, Nationalized Banks, Central Govt. & State Govt. and eligible for pension under Defined Benefit Pension Scheme (DBPS)
Salient features
Spouse must be joint applicant irrespective of the ownership of the property.
Children can be co-applicant in the loan and their income can be added for allowing longer term and higher eligibility amount.
Maximum loan term upto the attainment of 80 years of age applicant drawing pension in case of joint applicant.
If income of younger applicant/s (son/daughter/spouse) is considered, then the maximum loan term up to 30 Years or till attainment of 80 years of the younger applicant whichever is earlier.
Additional Benefits
6 EMI Waiver
Terms and Conditions:
6 EMI waiver will be in the form of adjustment against the outstanding principal at following periods:
1st waiver of 2 EMIs at 37th and 38th month of loan tenure
2nd waiver of 2 EMIs at 73rd and 74th month of loan tenure and
3rd waiver of 2 EMIs at 121st and 122nd month of loan tenure
Upon every principal lump sum prepayment during the tenure of the loan, the EMI will be rescheduled so that the original loan term remains unchanged.
EMI waiver will be the EMI prevailing at the stages mentioned above in point 1.
Borrower should maintain default free track record to be eligible for waiver.
AND
Interest Subsidy:
Customers eligible under Pradhan Mantri Awas Yojana – CLSS can get subsidy upto Rs 2.67 lakh.
