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Question: I have heard about a personal loan scheme for senior citizens by SBI. Can you share any details on the same?

Answer: Banks offer discounted interest rates for loans for senior citizens. Such low interest schemes have been initiated to allow senior citizens raise finances at low interest rate to take care of any immediate requirements such as medical expenses in their sunset years. State Bank of India offers personal loans to pensioners drawing pension from any of their branches with people up to 72 years of age. The scheme is available for both central and state government employees. The loan amount available for pensioners includes a maximum of 12 months pension with a ceiling of Rs.1, 00,000 or a maximum of 9 months pension with a ceiling of Rs. 50,000 for family pensioners. The spouse eligible for family pension needs to guarantee the loan.



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Question: I have heard about a personal loan scheme for senior citizens by SBI. Can you share any details on the same?
Answer:

Banks offer discounted interest rates for loans for senior citizens. Such low interest schemes have been initiated to allow senior citizens raise finances at low interest rate to take care of any immediate requirements such as medical expenses in their sunset years. State Bank of India offers personal loans to pensioners drawing pension from any of their branches with people up to 72 years of age. The scheme is available for both central and state government employees. The loan amount available for pensioners includes a maximum of 12 months pension with a ceiling of Rs.1, 00,000 or a maximum of 9 months pension with a ceiling of Rs. 50,000 for family pensioners. The spouse eligible for family pension needs to guarantee the loan. Source: CoolInterview.com



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