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Baroda Loan to Pensioners : Eligibility


For any purpose other than speculation.

Eligibility Borrowers
  • Pensioners/ family pensioners drawing pension through our Bank’s branches.
  • Pensioners who are getting their pension disbursed through Treasury/DPDO (Defence Pension Disbursing Office) directly to the credit of their savings accounts with our branches.
  • Pensioners/ Family Pensioners of our Bank.

    Family Pensioner: Spouse authorized to receive pension after the death of the pensioner.

Pensioner should be drawing pension through the branch for at least last -3- months and conduct of his/her account should be satisfactory i.e., no return of cheques for financial reasons.


Applications to be considered on individual basis only. Co-applicants not to be allowed.

  • Minimum: 21 years
  • Maximum:75 years

Quantum of Finance

Limit is stipulated based on the classification of Pensioner.

Regular Pensioners:

  • For age upto 70 years :Rs.8.00 Lacs
  • For age above 70 years : Rs.5.00 Lacs

For Family pensioner:

  • For age upto 70 years :Rs.3.00 Lacs
  • For age above 70 years : Rs.1.50 Lacs

Specific Guidelines for Loan Eligibility:
Repayment Capacity (FOIR)Total monthly deductions including proposed EMI and EMIs of existing loans (if any) should not exceed 60% of monthly pension.
Repayment Period Regular Pensioners/Family Pensioners:
For age upto 70 years :60 months
For age above 70 years : 36 months
Account Relationship Pensioner should be drawing pension through the branch for at least last -3- months and his/her account should have been conducted satisfactorily. i.e., no return of cheques for financial reasons.

Baroda Loan to Pensioners : Interest rates & charges

Rate of interest for Baroda Loan to Pensioners:
Product Conditions Repo Rate + Spread Effective Rate of Interest
Baroda Loan To Pensioners
Repo Rate + Spread
BRLLR + SP + 2.75% - 0.50% Concession (Concession of 0.50% will be provided for Digital Loan process)
Effective Rate of Interest
For Retired Bank of Baroda/their Family pensioners
Repo Rate + Spread
BRLLR + SP + 0.60%
Effective Rate of Interest

Unified Processing Charges:
  • Pensioners / Family Pensioners of our Bank: Nil
  • Others: Rs.1,000/-+GST

Foreclosure charges:
  • There are no foreclosure charges.

Penal interest:
  • Penal interest @2% shall be levied on loan outstanding amount

Baroda Loan to Pensioners : Documents Required

  • Completely filled loan application along with 3 passport sized photographs along with Form 135 giving details of Assets and Liabilities of the applicant.
  • Proof of residence includes any of the following:
    1. Valid passport
    2. Voter id card
    3. Driving license
    4. Post-paid utility bill (gas bill and electricity bill)
    5. Updated passbook or bank account statement
    6. Registered rent agreement
  • Proof of identity:
    1. PAN card
    2. Aadhar Card
    3. Valid Indian passport
    4. Voters ID card
    5. Driving license
    6. Employee ID card issued by relevant authorities like the Govt or Defence or reputed corporate
    7. Identity document or certificate of practice with photograph issued by professional bodies like ICAI, ICWA, ICFAI
  • Details of Pension /PPO No. etc.

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