SBI Pension Loan

Name: SBI Pension Loan
Brand: Paisabazaar
Rating: 4.2 (2839 reviews)

SBI Pension Loan starts from 11.30% p.a., for repayment tenures of up to 6 years. The bank offers pension loans to central & state government, defence, Public Sector Undertakings (PSU) and family pensioners.

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4.2_/5

2839 Reviews

51M+Satisfied Customers

65+Lending Partners

800+Cities across India

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Quick Disbursal

Money in your account instantly

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Offers ranked according to eligibility

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Hassle-free & paperless

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Amount

₹1 L

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₹

50K50L

Rate of Interest(Per Annum)

8%30%

Tenure

1Y 10Y

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HDFC Bank

10 Second Disbursal*100% Digital Process*Quick Disbursal

Max. Loan Amt.Upto ₹25L

Rate of Interest9.99% - 12.5%

Tenure upto1-5 Years

Processing Fee₹ 6,500

Axis Bank

Low Processing fee

Max. Loan Amt.Upto ₹40L

Rate of Interest9.99% - 17.15%

Tenure upto1-5 Years

Processing Fee1% - 1.5%

Kotak Mahindra Bank

Lowest Income requirement100% Digital Process*

Max. Loan Amt.Upto ₹25L

Rate of Interest9.98% - 17.2%

Tenure upto1-5 Years

Processing Fee1.1% - 1.5%

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SBI Pension Loan Highlights

SBI Pension Loan Interest Rate

SBI Pension Loan Eligibility Criteria

SBI Pension Loan Documents Required

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Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

SBI Pension Loan Highlights

Interest rates	11.35% p.a. onwards
Loan amount	Based on the monthly pension drawn by the applicant
Repayment tenure	SBI Pension Loan: 6 years
Repayment tenure	Insta Pension Loan scheme through YONO: 3 years
Processing fee	0.50% of the loan amount + applicable taxes (Minimum Rs. 250)

Disclaimer: State Bank of India is not a Paisabazaar partner for personal loan and all content herein is strictly informative in nature. Paisabazaar is not affiliated with, sponsored by or in any way connected to State Bank of India for personal loans. No offers/services from State Bank of India are being provided by Paisabazaar for personal loans. For further information about State Bank of India for personal loans, users are required to reach out directly to State Bank of India .

SBI Pension Loan Interest Rate

Pension Loan Schemes	Rate of Interest (p.a.)
SBI Pension Loan	11.30%
Jai Jawan Pension Loan	11.30%
Pension Loan Scheme For Treasury & PSU Pensioners	11.30% – 11.80%
Pre-Approved Pension Loans(PAPNL)	11.30%
Pre-approved Insta Pension Top-Up	11.30%

Loan amount for SBI Pension Loan

The loan amount would depend on the Net Monthly Pension (NMP) of the loan applicant provided that the EMI/NMP ratio does not exceed 33% for the family pensioners and 50% in case of other pensioners.

SBI Pension Loan Eligibility Criteria

For Central and State Government Pensioners:

The pensioner should be below 76 years of age.
Pension payment order should be maintained with SBI.
The pensioner should furnish an irrevocable undertaking not to amend his mandate to the Treasury during the tenure of the loan.
The Treasury has to give consent in writing that it will not accept any request from the pensioner to transfer his pension payment to any other bank till an NOC is issued
All other terms and conditions of the Scheme will be applicable, including guarantee by the spouse (eligible for family pension) or by a suitable third party.

For Defence pensioners:

Pensioners of Armed Forces, including Army, Navy and Air Force, Paramilitary Forces (CRPF, CISF, BSF, ITBP, etc.), Coast Guards, Rashtriya Rifles and Assam Rifles.
Pension payment order is maintained with SBI.
No minimum age bar under the scheme.
Maximum age at the time of processing the loan should be less than 76 years.

For family pensioners:

Family pensioners include authorised members of the family to receive pension after the death of the pensioner.
Family pensioners should not be more than 76 years of age.

SBI Pension Loan Documents Required

While SBI has not clearly stated the documents required for availing pension loan, the documentation, if any, should be minimal as the bank would already have most of the required documents due to the KYC of the pension account maintained with the bank.

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SBI Pension Loan Fees and Charges

Processing fee

State Bank of India charges a processing fee of 0.50% of the Loan amount + applicable taxes (Minimum Rs. 250) for SBI Pension Loan.

Prepayment/Foreclosure Charges

Prepayment charges	3% on prepaid amount
Foreclosure charges (if the account is closed from the proceeds of a new loan account under SBI Pension Loan)	NIL

Other fees and charges

EMI/NMP Ratio (Family Pensioners)	Up to 33%
EMI/NMP Ratio (other pensioners)	Up to 50%
Collected for payment to empaneled Advocate for Legal opinion/Search Report etc	As per actuals
Any other fee, if any	As per actuals

How Can I Apply for a Personal Loan Online?

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Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

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Last updated: 2 September, 2025

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