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canara

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    • SUPPORT INITIATIVES
    • Agriculture loan Application formats
  • Net Banking
  • MSME Banking
canara bank
  • About Us
    • Board of Director
  • Financial Results
  • PMJDY and Financial Inclusions
  • Press Release
  • Tenders
  • E Auction Properties
  • Announcements
  • Careers
  • Personal Banking canara
    • Savings & Deposits
    • Loan Products
    • Technology Products
    • Mutual Funds
    • Insurance Business
    • International Services
    • Card Services
    • Consultancy Services
    • Depository Services
    • Ancillary Services
    • Approved Housing Projects
    • How To Apply
  • Corporate Banking canara
    • Accounts & Deposits
    • Supply Chain
    • Loans & Advances
    • Syndication Services
    • IPO Monitoring Activity
    • Merchant Banking
    • TUF Schemes
    • Canara eTax
  • Investor Relation canara
    • Contact Us
    • Appeal to Physical Shareholders of Canara Bank
    • Join 20th e-AGM [NEW]
  • Canara Easy Fee
  • NRI Banking canara
    • Deposit Products
    • Loans & Advances
    • Remittance Facilities
    • Investment Facilities
    • Consultancy Services
    • Other Services
    • NRI News Bulletin
    • Contact Details
    • FAQs
    • FATCA / CRS - Self Declaration Form
  • Priority Portal canara
    • Schemes
    • RRB Section
    • Agri-Marketing
    • Agricultural Innovation Centre
    • Rural Development
    • CED for Women
    • Sustainable Development and Corporate Social Responsibility (SD-CSR)
    • Lead Bank
    • In Promotion Of Self Employment
    • RURAL DEVELOPMENT SCHEMES
    • SUPPORT INITIATIVES
    • Agriculture loan Application formats
  • Net Banking
  • MSME Banking
  • Home
  • Personal Banking
  • Loan Products
  • Canara Pension (Canara Bank Ex-Employees)
  • Canara Kuteer–Housing Loan Scheme
Got any Questions?
Call us Today!

Toll Free Numbers

1800 425 0018
1800 103 0018
1800 208 3333
1800 3011 3333


Non Toll Free Numbers
(if calling from outside India)

+91-80-22064232

Customers are requested to call on our
mentioned Toll Free Numbers only for any
complaints/issues. Bank shall not be
responsible for any consequences arising
out of customers calling any other
unverified numbers.

Canara Pension (Canara Bank Ex-Employees)

PURPOSE

Component-I

To meet the cost of medical expenses and other genuine personal needs of the Pensioners/Family pensioners.

  Component-II

To make payment of premium of  IBA Group Mediclaim Insurance Policy for Retired Employees of our Bank/Family Pensioners of Retired Employees of our Bank who have opted for and are covered under the scheme .

ELIGIBILITY

  • Pensioners and Family Pensioners of our Bank.

QUANTUM

  • Loan quantum:
        Maximum loan eligibility of Retired Employees of our Bank/Family Pensioner of Retired Employees of our Bank to remit the Annual Premium of the IBA Group Mediclaim Insurance Policy as a Second Loan shall be
Component-I

20 months’ pension amount or Rs.10,00,000/- whichever is less.

Component-II

Maximum loan eligibility of the pensioner/Family pensioner to remit the Annual Premium of the IBA Group Mediclaim Insurance Policy as a Second Loan shall be.


The amount of Annual Premium payable for the year.

  OR  

Maximum, eligible loan amount as per Canara Pension Loan Scheme (Presently maximum loan of Rs.10,00,000/-) MINUS existing liability if any.

 

Rs.90,000/-

 

Whichever is lower out of the above three.

 

However, the maximum loan liability at the time of sanction and disbursement of loan under both the component shall not exceed 20 months’ pension amount or Rs. 10,00,000/- (whichever is lower).

RATE OF INTEREST

Refer link..

REPAYMENT

    A. Component-1:
    i). To be repaid in 72 equated monthly installments (EMIs) if the Pensioner is below the age of 65 years at the time of sanction.
    ii). To be repaid in 60 equated monthly installments (EMIs) if the Pensioner is above the age of 65 years at the time of sanction.

 

    B.Component-2: 
    10 Equated Monthly Installments irrespective of the age of the Pensioner.  First installment to commence from the subsequent month after disbursement.

Suitable standing instructions/drawdown should be ensured on the date of opening loan account without fail.

SECURITY

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

 

    ii). Loan to Family Pensioner
    Third party guarantee/co-obligation good for the amount should be obtained invariably.

PROCESSING CHARGE

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

DOCUMENTATION

  • Loan application (Retail Lending).
  • Take Delivery letter to DPN.
  • Irrevocable Mandate
  • Letter to be addressed to Pension Disbursing Authority.
  • Particulars of the loans granted should be noted invariably in the Pension Register/PPO maintained with the Pensioner and SB master in the system of the concerned borrower to ensure prompt recovery of loan installments. The fact of sanction of pension loan is to be informed to Pension Payment Authority.
  • Production of Bills/vouchers is not mandatory.

EMI Calculator

  • EMI Calculator
Got any Questions?
Call us Today!

Toll Free Numbers

1800 425 0018
1800 103 0018
1800 208 3333
1800 3011 3333


Non Toll Free Numbers
(if calling from outside India)

+91-80-22064232

Customers are requested to call on our
mentioned Toll Free Numbers only for any
complaints/issues. Bank shall not be
responsible for any consequences arising
out of customers calling any other
unverified numbers.
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Last Updated on: 17/05/2022 |   Visitors: 23321        

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