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Personal Loan for Pensioners

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15.6L Reviews

5.7cr+Satisfied Customers
65+Lending Partners
₹65k Cr+Loans Disbursed
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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 Fee6,500
ICICI Bank
100% Digital Process*Quick Disbursal
Max Loan Amt.Upto 25L
Rate of Interest11% - 13%
Tenure upto1-5 Years
Processing FeeUpto 2%
Axis Bank
Low Processing fee
Max Loan Amt.Upto 25L
Rate of Interest9.99% - 17.15%
Tenure uptoUpto 6 Years
Processing FeeUpto 2%
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How Can I Apply for a Personal Loan Online?

Get up to 40 Lakh in 5 Simple Steps

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

Banks and NBFCs offering Personal Loans to Pensioners

State Bank of India (SBI) Pension Loan

Purpose: To meet urgent cash requirements for purposes like the child’s wedding, paying medical bills, vacations, home renovation and much more.

Eligibility: Pensioners/Family Pensioners drawing pension through SBI.

Features:

  • Interest Rate: 11.60% p.a. onwards
  • Loan Types: SBI Pension Loan, Jai Jawan Pension Loan, Pension Loan to Treasury/ PSU Pensioners & Pre-Approved Pension Loans (PAPNL)
  • Loan Amount: As per the applicant’s profile and creditworthiness
  • Loan Tenure: 72 months (Loan to be repaid by 78 years of age)
  • EMI/NMP ratio: May not exceed 50% in all other type of pensioners
  • Prepayment Charges: 2% on prepaid amount

Bank of Baroda (BOB) Loan to Pensioners

Purpose: To meet urgent financial needs other than speculation

Eligibility: Age: 21 – 75 years & Pensioners/ family pensioners drawing pension through our Bank’s branches are eligible

Features:

  • Interest Rate: 9.50% p.a. onwards
  • Repayment Tenure: Up to 60 months
  • Processing Charges: Pensioners / Family Pensioners of our Bank: Nil & For Others: Rs. 1000 plus GST
  • Foreclosure Charges: Nil

Loan Amount:

Pensioner Type Regular Pensioners Family pensioners
Up to 70 years Rs. 8 lakh Rs. 3 lakh
Above 70 years Rs. 5 lakh Rs. 1.50 lakh

Punjab National Bank (PNB) Personal Loan Scheme for Pensioners

Purpose: To meet personal requirements, including medical expenses and to offer funding assistance to public drawing pension through Punjab National Bank

Eligibility: All the types of pensioners drawing pension through PNB branches

Features:

  • Interest Rate: 11.35% p.a. onwards
  • Loan Type: Demand Loan/ Term Loan/ Overdraft
  • Loan Amount: Up to Rs. 10 lakh
  • Repayment Tenure: Up to 5 years
  • Processing Fee: Nil
  • Security: Guarantee required of spouse/earning children/third party (Any one)
  • Repayment: Maximum 60 EMIs & In case of pensioners above 75 years: Maximum 24 EMIs
  • Margin: Nil

Central Bank of India: Cent Pensioners

Purpose: For personal requirements, excluding any speculative activity or investment in real estate.

Eligibility: Pensioners/Family Pensioners drawing pension through Central Bank of India, including ex-staff

Features:

  • Interest Rate: 10.60% p.a. onwards
  • Nature of Loan: Demand loan and Overdraft
  • Loan Amount: Up to Rs. 10 lakh or 18 times the monthly pension
  • Minimum Credit Score: 700
  • Repayment Tenure: Up to 60 months
  • Processing Fee: Nil
  • Co-borrower: Pensioner’s spouse or legal heir(s) of the family pension beneficiary

Bank of India (BOI) Star Pensioner Loan Scheme

Purpose: For various personal uses like paying medical bills, home renovation, debt consolidation, etc. Not for any speculative purpose.

Eligibility: Regular pensioners or family pensioners drawing regular monthly pension via BOI & Retired employees (other than dismissed/compulsorily retired) are eligible

Features:

  • Interest Rate: 11.60% p.a. onwards
  • Nature of Loan: Term Loan, Demand Loan, Overdraft (reducible as per repayment schedule)
  • Loan Amount: Up to Rs. 10 lakh
  • Repayment Tenure: Up to 5 years
  • Processing Fee: 2% of the loan amount
  • Prepayment Charges: Nil

Shriram Finance Loan for Pensioners

Features:

  • Interest Rate: 12% – 42% p.a.
  • Loan Amount: Rs. 25,000 – Rs. 5 lakh
  • Repayment Tenure: Up to 5 years
  • Processing Fees: 0.50% – 5% of the loan amount + GST
  • Collateral: Nil

Eligibility Criteria for Availing Personal Loan for Pensioners

Find below the basic eligibility criteria defined by various banks offering personal loans to pensioners that shall vary from lender to lender:

  • Age criteria: 55-65 years or above (Usually varies from bank to bank)
  • Income: Ideally, Rs. 2-3 lakh per annum. Stable and continuous income from pensions, investments and rentals helps in securing personal loans for pensioners
  • Credit Score: 750 and above is preferred for better negotiation. In case you do not know about your score, you can check your credit score for free by clicking here.
  • Repayment Capacity: Lenders access your repayment capacity, if you can repay the loan amount within defined tenure

Documents Required

If you are a pensioner and require a personal loan, the find below the basic documents required by lending banks and NBFCs:

  • Identity Proof: KYC documents: PAN card, Aadhaar Card, Voter's ID, Passport
  • Proof of Address: Aadhaar, Passport, Voter ID, Utility Bills (Gas, Water, Electricity)
  • Income Documents: Pension statement, Bank Statements showing pension deposits
  • Employee ID card and Pension Certificate

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Avail Personal Loan for
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How Can I Apply for a Personal Loan Online?

Get up to 40 Lakh in 5 Simple Steps

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

Avail Personal Loan for
All Your Needs

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Avail Personal Loan for
All Your Needs

FAQs

What is the interest rate of pension loan for pensioners?

The interest rates offered to pensioners by banks and NBFCs shall vary from lender to lender and shall depend on applicant’s profile.

Is a pensioner eligible for a personal loan?

Yes, pensioners and senior citizens are eligible for personal loans; however, the eligibility criteria may differ from bank to bank and slightly from the salaried individuals. It is wise to check credit score for free before applying for the loan.

Which loan is best for pensioners?

Determining the best loan offered to pensioners shall be tough, as it shall depend on your financial requirements, such as required loan amount, desired repayment tenure, etc.

What is the personal loan scheme for pensioners in PNB?

Punjab National Bank (PNB) offers a dedicated Personal Loan Scheme for Pensioners that offers personal loans at an interest rate starting from 11.35% p.a. for loan amount up to Rs. 10 lakh or 18 times of net monthly income.

Who is not eligible for pension loan?

Pensioners who are not drawing pension through the lending bank, as well as the pensioners above the maximum age limit are not eligible to avail personal loans.

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What our customers say

Smooth & hassle-free loan approval experience

I want to express my gratitude for your exceptional support & guidance throughout my loan application process to Aman (EW17239). Your professionalism & clear communication made the journey smooth and manageable. I appreciate how you helped during loan approval & fast-tracked the documentation. It is rare to find someone so committed to their clients. I truly value the effort you put into ensuring a successful outcome. Thanks again for your invaluable help.

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Sanjay Kumar GuptaMar 30, 2026

Exceptional guidance throughout the process

I’d like to express my sincere appreciation for Mr. Aman Kumar (EW32023) for the excellent assistance provided. His professionalism & willingness to help made the experience smooth & pleasant. Aman Kumar demonstrated patience & clarity while addressing queries and ensured that everything was handled efficiently. Such dedication & customer-focused service truly deserve recognition. Please convey my thanks and appreciation to him for his outstanding support.

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Jyotirmoy SinghaMar 23, 2026

Very helpful and easy to reach

I really wants to appreciate Mohankumar Dhandapani for closing my loan requirement in such a short time and nice manner. He is very much approachable helped me based on my requirements. He explained me all the options in very short time even one option failed immediately helped me to get other options worked. Excellent job done by Mohankumar Dhandapani all the best keep you same way approachable you will get more customers. Thanks to Paisabazar too.

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Kirubagaran GanesanFeb 24, 2026

Reliable help when i needed it most

I am writing this email to express my sincere thanks for your excellent support and guidance on Paisabazaar. My experience was very smooth and satisfying because of your help. You explained everything clearly and made the whole process easy and comfortable for me. I truly appreciate your professionalism, patience, and quick response. I am very happy with the service and would definitely recommend to others because of the great support I received from you. Thank you once again

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DharmeshFeb 22, 2026

Committed support that made everything easy

I’d like to appreciate the Paisabazar team for the excellent loan service. I especially want to recognize one of your agents, Mr. Prince Kumar, for his outstanding support. For more than a month, he continuously followed up with me and assisted me. His commitment & professionalism made the experience smooth & hassle-free. I appreciate his efforts and dedication. Kindly acknowledge his performance and consider rewarding such a sincere employee.

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BhupendraFeb 18, 2026

My Trust in Paisabazaar has Increased

I would like to take a moment to share my sincere feedback regarding the support I received from your team. The executive who assisted me was extremely professional, polite, and knowledgeable. They patiently understood my concern, explained the process clearly, and guided me step by step toward the right solution. I truly appreciate the transparency, timely responses, and genuine effort shown to help me.

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Lalit MaviFeb 12, 2026

Best Place for Taking Loans

I contacted customer care with a few queries, and I am very satisfied with the support I received. The representative was polite, patient, and explained everything clearly. My questions were resolved properly, and the overall experience was smooth and helpful. Thank you for the excellent customer service

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Kokil BarnwalFeb 12, 2026

Easy loan approval with good guidance

Thank you for the support provided for getting personal loan approval. During this process I worked with Mr. Aman Bajpai (EW17239) who was co-ordinator for this entire process of Personal loan, I was incredibly impressed by his efficiency and problem-solving skills. He went out of their way to ensure all my questions were answered and that the disbursement timeline stayed on track. His coordination was really appreciable.

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Riyaj AtarFeb 9, 2026

Apne higher education ke liye loan liya tha

Muhje higher education ke liye loan chahiye tha. Paisabazaar pe apply kiya. Got it at the right time. Quite helpful.

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Puja DanuJan 22, 2026

Sabse jada helpful log the yaha

Maine bht jagah try kiya tha personal loan ka, yaha try kiya toh helpful log mille. Har steps mai aram se samjhaya or usse muhje loan lene mai jda dikkat nhi aayi.

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Anuradha GuptaJan 21, 2026
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Anubhuti Agrawal profile
Written ByLinkedIn icon
Anubhuti Agrawal
Shamik Ghosh profile
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Shamik Ghosh

Paisabazaar is a loan aggregator and is authorized to provide services on behalf of its partners.

The APR (Annual Percentage Rate) of a personal loan is its annualised cost of borrowing, which includes the interest rate as well as the processing fees, documentation fees and other fees charged during the loan origination. The APR is expressed in the form of a percentage and thus, allows personal loan applicants to detect personal loan schemes offered at lower interest rates but with higher processing fees and/or other charges.

The APR of personal loans usually ranges between 11.29% to 35%. For example, assume that you have availed a personal loan of Rs. 5 lakhs @ 10.50% p.a. with a repayment tenure of 5 years. The processing fee charged for this loan is 1.5% of the loan amount, which amounts to Rs 7,500. Therefore, the total borrowing cost of your personal loan will be Rs 1,52,317 and its APR will be 11.16%.

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