STAR PENSIONER LOAN SCHEME
Retired staff (other than dismissed/compulsorily retired) are eligible for a loan and overdraft
facility.
The total limit for loan and
OD is 15 months net pension (Gross Income less Income Tax and EMI of other loan, if any), with a maximum of Rs.5,00,000.
OD limit upto 3 months Net Pension, with a maximumn of Rs.50,000.
However, the combined limit (OD + Loan) should not exceed the maximum limit of Rs.5,00,000/-.
REPAYMENT: For loan over Rs.1 lac age at the end of repaymnt period not to exceed 75 years.
RATE OF INTEREST: 3% over base rate (presently 10%) i.e. 13% p.a.
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