Canara Pension-General Public

Purpose

To meet the cost of medical expenses and other genuine personal needs of the Pensioners

Eligibility

The following types of pensioners who are drawing their pension through our branches are eligible for financial assistance under the scheme:

All Central Government Pensioners (viz., Central, Civil, Railways, Defence, Armed Forces, Defence Civilians and Freedom Fighters etc.)
All State Government Pensioners.
Pensioners of all Government Department Undertakings.
Pensioners of all Public Sector Undertakings/Corporate Pensioners.
Family Pensioners of all the above categories.

Quantum and Repayment

For General Public Pensioners:

Age at the time of Loan sanction	Max Loan Amt (18 months Pension or Rs.)	Repayment Period	Age at the time of full Repayment
Below 70 years	10.00 lakhs	60 months	Up to 75 years
70 - 75 years	5.00 lakhs	36 months	Up to 78 years

For Defence Pensioners :

Age at the time of Loan sanction	Max Loan Amt (24 months Pension or Rs.)	Repayment Period	Age at the time of full Repayment
Below 50 years	10 lakhs	84 months	57 years
50 - 60 years	8 lakhs	60 months	65 years
60 - 70 years	6 lakhs	48 months	74 years
70 - 75 years	5 lakhs	24 months	77 years

For Family Pensioners (General/Defence Pensioners):

Age at the time of Loan sanction	Max Loan Amt (18 months Pension or Rs.)	Repayment Period	Age at the time of full Repayment
Below 70 years	5.00 lakhs	60 months	75 years
70 - 75 years	3.00 lakhs	36 months	78 years

Rate of Interest

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Security

1. In case of Loan to Pensioners:

Co-obligation of the spouse (wherever there is a provision for family pension) or any other person/pensioner good for the amount, if necessary, may be stipulated by the sanctioning authority.

2. In case of Loan to Family Pensioners:

Third party guarantee/co-obligation good for the amount should be obtained invariably.

Processing Charges

Processing charges are waived in respect of the loans under this scheme

Documents

Stipulated Loan Application with 2 copies of passport size photographs
Co-obligation (unless waived)
Delivery letter to DPN