Canara Pension-General Public
- To meet the cost of medical expenses and other genuine personal needs of the Pensioners
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.
- 15 month’s Pension amount or Rs.5,00,000/- whichever is less, subject to Net Take Home of 40% of gross Pension after deducting the proposed EMI.
- 72 EMIs if pensioner is below 65 years, 60 EMIs if pensioner is above 65 years.
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 are waived in respect of the loans under this scheme