Indian Bank Application for Pension Loan from Download

This is the official Application for Indian Bank Pensioners Loan Scheme. It allows regular or family pensioners drawing their pension through Indian Bank to secure personal credit.

• Loan Details: Form fields capture the requested loan amount, loan purpose, EMI preferences, and the applicant’s Savings Bank account number.
• Pension Type Toggle: Differentiates between a Regular Pension and a Family Pension.
• Retirement Metadata: Captures the date of retirement and the specific ground for retirement (Superannuation, VRS, Medical Grounds, or others).
• Income Tracking: Requires a strict breakdown of monthly income from the pension and other sources for both the applicant and the spouse.
• Visual Identifiers: Mandatory passport photo slots for both the borrower and the spouse/guarantor.

• PPO Details: Requires the exact Pension Payment Order (PPO) Number, date, issuing authority, and Disbursing Authority details.
• Pension Disbursement Mode: Tracks whether the pension follows the PSB Scheme or the PILOT PENSION scheme.
• The “No-Transfer” Lock: Includes a strict, legally binding declaration where the pensioner explicitly agrees not to transfer their pension account or branch to any other bank while the loan remains active/unpaid.

• Guarantor Undertaking: Requires a third-party guarantor or spouse to provide full KYC, bank details, relationship proof, and an income certificate.
• Family Pension Assessment: For family pensioners, the bank explicitly audits the exact start date and checks if any mandatory downward revision of the pension amount is scheduled in the future.
• Branch Appraisal Algorithm: The branch manager uses a formula to calculate the final eligible loan amount:
  $$\text{Net Pension} – \text{Existing Recoveries} – \text{Proposed EMI} = \text{Post-EMI Balance Status}$$
• Exit Age Limit: Loan tenure is strictly capped based on the maximum allowable pensioner exit age.

To process the application, the bank requires execution of these standard numbered legal forms:

• D01 & D126: Agreement for Pension Loan.
• D57: Agreement of Guarantee.
• F198: Undertaking letter signed by the family members of the pensioner.
• F199: Official letter of intimation sent by the bank to the Pension Paying Authority (PPA).

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