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BIZ BUZZ | SBI?s loan scheme for pensioners

STATE BANK of India (SBI) has announced to increase the loan amount and decrease the interest rate from 10.25 per cent to 9.25 per cent for pensioners on the occasion of Makar Sankranti till January 31.

Published on: Jan 17, 2006, 19:36:00 IST
None | By , Indore
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STATE BANK of India (SBI) has announced to increase the loan amount and decrease the interest rate from 10.25 per cent to 9.25 per cent for pensioners on the occasion of Makar Sankranti till January 31. Bank’s assistant general manager Rajeev Sharma said that the pensioners of State government, Central government and those in Railways and Defence could avail this facility.

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SBI’s marketing manager Suresh Shukla said that loans would be sanctioned for a term of five years to pensioners up to 70 years of age while pensioners of the age 72 years would be given a maximum loan of Rs 1 lakh or equivalent to the amount of their pension for 12 months for the period of four years.

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