As of 1st April all the associate bank including the State Bank of Bilkaner and Jaipur has been merger with State Bank of India and there remains one entity State Bank of India. So the details provided are for State bank of India.

In the event that you are a Central or State Government or Defense retired person drawing your annuity through one of our branches and are not over 76 years old, you can benefit of an advance from your branch to meet your own costs.

Ostensible preparing expenses (Nil Processing Fees for Defense Pensioners), no concealed expenses and speedy credit handling. At whatever point you have some surplus assets, you can credit your advance record, in this manner diminishing your advance risk and intrigue trouble.

Qualification:

(A) For Pensioners:

(i) For Central and State Government Pensioners:

The beneficiary ought not be over 76 years old likewise, retired people whose benefits are dispensed by Government Treasuries by methods for checks attracted support of our branches, according to order of the retired person, are additionally proposed to be incorporated. In such cases, the first Pension Payment Order (PPO) stays in the care of the Treasury and the beneficiary gives a command to the Treasury for installment of annuity through a specific branch of a bank.

Such beneficiaries will be incorporated under the domain of the Scheme subject to the accompanying conditions:

The beneficiary concerned outfits an irreversible endeavor that he won't alter his command to the Treasury to pay his benefits from the branch, amid the money of an advance profited by him from SBI.

The Treasury concerned assents in composing that it won't acknowledge any demand from the retired person to exchange his annuity installment to some other bank/office till a NOC is issued by the Bank.

Every single other term and states of the Scheme will be appropriate, including certification of the life partner (will's identity qualified for family annuity) or a reasonable outsider. The standards for family beneficiaries will proceed.

(ii) For Defense Pensioners:

Beneficiaries of Armed Forces, including Army, Navy and Air Force, Paramilitary Forces (CRPF, CISF, BSF, ITBP, and so on.), Coast Guards, Rashtriya Rifles and Assam Rifles who's Pension Payment Order is with us.There is no base age bar under the plan. The Maximum age at the season of availment of credit ought to be 76 years.

(B) For Family Pensioners (counting Defense Family Pensioners) :

Family retired person, i.e. companion approved to get annuity after the demise of the retired person, subject to condition that family beneficiary ought not be over 76 years old.

(2) Loan Amount:

(A) For Pensioners:

(i) For Central & State Government Pensioners

Minimum:

Rs. 25,000/-

Maximum :

18 months' Pension with a ceiling of:

Age

Max Loan Amount
= 72 years
Rs 14.00 lac
> 72 but = 74 years
Rs 12.00 lac
> 74 but = 76 years
Rs 7.50 lac

(ii) For Defence Pensioners

Minimum: Rs. 25,000/-
Maximum:
36 months’ Pension with a ceiling of RS 14.00 lac for Pensioners who are up to 56 years of Age
18 months’ Pension with a ceiling of :
Age
Max Loan Amount
> 56 but = 72 years
Rs 14.00 lac
> 72 but = 74 years
Rs 12.00 lac
> 74 but = 76 years
Rs 7.50 lac
(EMI / NMP not to exceed 50% in all the cases for all type Pensioners)
EMI = Equated Monthly Instalments
NMP = Net Monthly Pension

(B) For Family Pensioners (including Defence Pensioners):
Minimum: Rs. 25,000/-
Maximum: 18 months’ Pension with a ceiling of:
Age
Max Loan Amount
= 72 years
Rs 5.00 lac
> 72 but = 74 years
Rs 4.50 lac
> 74 but = 76 years
Rs 2.50 lac
(EMI / NMP not to exceed 33% in all the cases for Family Pensioners)

EMI = Equated Monthly Instalments
NMP = Net Monthly Pension

(3) Age and Repayment Period:

(A) For Pensioners:

(i) For Central and State Government Pensioners :
Age at the time of Loan sanction
Repayment Period
Age at the time of full Repayment
Up to 72 years of Age
60 months
77 years
More than 72 years and up to 74 years
48 months
78 years
More than 74 years and up to 76 years
24 months
78 years

(ii) For Defence Pensioners :
Age at the time of Loan sanction
Repayment Period
Age at the time of full Repayment
Up to 56 years
84 months
63 years
More than 56 years and up to 72 years
60 months
77 years
More than 72 years and up to 74 years
48 months
78 years
More than 74 years and up to 76 years
24 months
78 years

(B) For Family Pensioners (including Defence Pensioners) :
Age at the time of Loan sanction
Repayment Period
Age at the time of full Repayment
Up to 72 years of Age
60 months
77 years
More than 72 years and up to 74 years
48 months
78 years
More than 74 years and up to 76 years
24 months
78 years