Home Loan for Pensioners 04433044488 Loan for Senior Citizen

Home Loan for Pensioners

Getting a home loan is an exhaustive process. Both for the customer as well as for the lenders. The customer is interested in getting the least possible interest rates. While lender is concerned about reducing the risk of loan defaults.

So when the borrower itself is a senior citizen, the lenders become all the more cautious as generally, senior citizens do not have a very large and regular source of income. At most, they might have some kind of pension.

But this doesn't mean that lenders are not willing to give home loans for pensioners.

It's true that retirement reduces the ability to get a loan. But it's still possible. Pensioners can avail home loans but the amount may not be very high. It is generally capped on the basis of pension, existing financial assets and financial condition of the borrower.

So a lender might put a cap of XX times the monthly pension or some fixed amount, whichever is lower. Also like a regular person's EMI, there can be conditions where total EMI outgoes of the pensioner should not be more than 40% of the monthly pension.

All pensioners of Central and State Governments, Central and State Governments' Undertakings, Defense Services, reputed Companies, Educational Institutions, etc. are eligible for getting home loans against pension. The money can be used to purchase, repair and renovate properties.

                                                                                                                  

Home Loan for Pensioners 04433044488 Loan for Senior Citizen. All pensioners of Central and State Governments, Central and State Governments' Undertakings, Defense Services, reputed Companies, Educational Institutions, etc. are eligible for getting home loans against pension. The money can be used to purchase, repair and renovate properties. We are providing 100% Loan Guarantee Apply 04433044488 With Instant Approval  Nationalized Bank.  Get more information Call @ 9840136583