Documenti di Didattica
Documenti di Professioni
Documenti di Cultura
Attention of Branches / Offices is drawn to Head Office Instruction Circular No. No.
10874/Retail Credit/ 2009-2010/16 dated 08.02.2010 & 11662/ Retail Credit/ 2011-12/19
dated 01.12.2011 on “Pensioners’ Personal Loan”.
Based on the feedback received from the field, need of Pensioners and to boost
portfolio under the scheme, various modifications have been carried out. Efforts have
been made to make the product very lucrative for Pensioners in general and Allahabad
Bank Pensioners in particular.
The revised guidelines are enclosed as “Annexure – A”. The revised guideline will be
applicable to new sanctions only.
All the Offices/ Branches are advised to take a careful note of the contents above and
ensure meticulous compliance.
(Sudhanshu Gaur)
General Manager
(PSC, FI, SME & Retail Lending)
(ANNEXURE – A)
AllBank Pensioners’ Personal Loan
Sl. PARAMETER REVISED GUIDELINES
No.
01 Target Group & All state Govt., central Govt. and our bank Pensioners whose
Eligibility monthly pensions are credited in the accounts maintained by them
Criteria with our branches.
02 Definition Pension means basic pension plus dearness relief at the time
of sanction of credit facility.
03 Age Age of the pensioner must not exceed 70 years (Seventy years)
as on the date of disbursement of loan and loan should be fully
repaid before attaining the age of 75. The date of birth should
be reckoned as mentioned in the PPO held with the bank /
disbursing agency or the date of birth mentioned in the identity
card issued by the employer.
06 Margin NIL
07 Rate of interest 1 YMCLR + 2.00 %.
For Allahabad Bank pensioner (staff) @ 1 Y MCLR.
11 Mode of The entire loan and interest will be repaid by equated monthly
Repayment installments from the pension credited in the Borrowers account.
2. That the following are the only legal heirs of Shri/Smt........................ (Borrower) as
on the date and are beneficiary in the aforesaid loan /credit facilities availed by
Shri/Smt .........................(Borrower)
4. That, I/We also understand and agree that till the settlement of the Bank’s dues in
the aforesaid loan, the pension account/family pension shall be subject to Bank’s
lien.