Life is unpredictable, and so are our financial needs. The need for urgent finance may happen to anyone at any point in life. When facing a financial emergency, there’s nothing more helpful than personal loans.

Although personal loans are a popular financial instrument widely available in the market, pensioners may face difficulty getting approval. This is where Piramal Finance comes to your aid. If you’re a retired person seeking a personal loan for pensioners but experiencing challenges with approval, take no worries.

Your hassle ends here with the best loans for pensioners at Piramal Finance. Simply provide us with your pension payment order and pension account details, and we will take care of the rest. Our dedicated loan experts will guide you throughout the loan application procedure until the loan is disbursed. Explore this page to learn all about our personal loans for pensioners.

Features & Benefits of Pensioners Loan

A loan for pensioners at Piramal Finance comes with many features and benefits. Here are a few of them:

Loan Amount and Tenure

At Piramal Finance, we offer loans for pensioners to everyone aged 76 years or below. Our personal loans for pensioners are designed for all individuals who receive military, government, or family pension benefits. You can get a maximum loan amount of 10 lakhs from Piramal finance. The minimum tenure for a loan for pensioners at Piramal Finance is one year, whereas the maximum tenure is five years.

No Security Required

An emergency loan for pensioners from Piramal Finance saves you the hassle of providing collateral. We understand that financial urgency can happen to anyone at any point in their life. Thus, we eliminate the need for any security and ensure the application processing is as fast as possible.

Attractive Interest Rates and Easy Repayment

Gone are the days when you had to wait in a queue and visit the institution once in a while to get your loan application status. With Piramal Finance, you can disburse your loan for pensioners within the same day while you enjoy the comfort of your home.
Our quick, hassle-free and instant disbursal of personal loans for pensioners is all you need to meet any financial urgency. Simply provide your personal and pension details, wait for approval, and receive same-day disbursal.

Quick, Hassle-Free Disbursal

Interest rates on loans for pensioners start at 12.99*%pa at Piramal Finance, which is the most reasonable and appealing interest rate on loans for pensioners. Our standard interest rates will assist you in obtaining simple repayment options, allowing you to manage your finances more effectively.
We offer the best interest rates after assessing your net monthly pension amount, repayment tenure and to some extent your credit score.

Eligibility Criteria for Loan for Pensioners

The eligibility criteria for a pensioner loan depends on where you worked earlier. We set the eligibility criteria based on whether you’re a family pensioner, Defence pensioner or government pensioner. Here is a table for a better understanding:

For Government Pensioners

Your age must be 76 or below & must have a well-maintained pension payment order. Any third-party or your spouse (family pensioner) must be a guarantor.

For Family Pensioners

You must be authorised to receive a pension after the death of the original pensioner. The age of the family pensioner must be 76 or below & must have access to pension account details

For Defence Practitioners

You must be Pensioners of Indian Armed Forces, such as the Navy, Army or Air Force. The age of the pensioner must be 76 years or below while applying for the loan & must have a well-maintained pension payment order.

Documents Required for Pensioner

To get a personal loan for pensioners, you must submit the following documents:

  • 1.
    Photo ID proof including driving license, voter ID card, aadhaar card
  • 2.
    PAN card
  • 3.
    Pension payment order.
  • 4.
    Pension account statement.
  • 5.
    Address proof such as voter ID card, utility bills, passport, aadhaar card.

Interest Rates & Charges

Piramal Finance offers reasonable and competitive interest rates and charges for a loan for pensioners compared to other NBFCs. With interest rates starting from 12.99*%pa, one can easily repay a personal loan for pensioners at Piramal.

Here is a table for a clearer insight into the other charges associated with a pension loan:

Fees Maximum Tenor
Loan Processing FeesUp to 4% of the loan amount, along with applicable taxes
Interest RateStarting at 12.99*% p.a.
Prepayment charges4% on the outstanding loan amount + applicable taxes
Foreclosure charges4% on the remaining loan amount + applicable taxes

Types of Personal Loans:

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Frequently asked questions

What is a Loan For Pensioners?
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How to apply for a Loan For Pensioners?
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How to calculate Loan For Pensioners EMI?
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Can people with low credit scores avail of Loan For Pensioners?
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Can government employees avail of Loan For Pensioners at lower interest rates?
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What are the minimum and maximum loan amount I can avail of on a Loan For Pensioners?
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Is it possible to foreclose or prepay loans for pensioners?
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Why choose Piramal Finance for Loan For Pensioners?
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