To meet the cost of medical expenses and other genuine personal needs of the Pensioners.
Quantum and Repayment
For General Public Pensioners/Family pensioners :
Age at the time of Loan Sanction
Maximum Loan Amount (24 months pension or Rs.)
Age at the time of full Repayment
Below 60 years
Up to 67 years
60 - 70 years
Up to 75 years
70 - 75 years
Up to 78 years
100 % waived.
Net Take Home
NTH for Canara Bank Retired Pensioners/Family Pensioners is 40%.
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 to be stipulated by the sanctioning authority.
In case of Loan to Family Pensioners: Third party guarantee/co-obligation good for the amount should be obtained invariably.
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.
Stipulated Loan Application with 2 passport size photos of applicant / Co-applicant or guarantor.
KYC documents of applicant/Co-applicant or guarantor.
Proof of Residence (Driver’s License/Voter Id/Passport / Aadhar Card / Electricity Bill/Telephone Bill etc., and others.