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Star Pensioner Loan

A Bank of India pensioner loan with secured or clean-loan quantum linked to net monthly pension and repayment up to 60 months.

Interest rateStarts from 10.85% p.a.; interest is calculated on a daily reducing balance.Maximum financeMaximum amount up to ₹10 lakh. Maximum quantum is 20 times net monthly pension for a secured loan and 15 times for a clean loan.Maximum tenureUp to 60 months.
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Quick eligibility check

Star Pensioner Loan

0 of 5 answered

Answer what you know. This guide compares your answers with the criteria published for this product; it is not an approval decision. Your answers stay on this device.

1Do you meet this requirement: Individuals drawing pension through a Bank of India branch?

Published source: Eligibility

2Does your age meet this requirement: maximum age 75 years at final repayment?

Published source: Eligibility

3Does your annual income meet this requirement: No fixed rupee pension or income minimum is published?

Published source: Minimum income

4Do you meet this requirement: quantum is linked to net monthly pension and the applicant must provide the pension payment order (PPO)?

Published source: Minimum income

5Do you meet this requirement: Pension must be drawn through a Bank of India branch?

0 of 5 answeredAnswer the remaining questions to see your checklist result.
✓ Manually checked 30 Aug 2026 · active
Offered byBank of India

India; pension must be drawn through a Bank of India branch

Key facts

What the official sources publish

Every value belongs to this exact product. Expand any fact to inspect its official evidence in place.

Loan typePensioner loan available as a secured facility or a clean facility without pledging security.View source
The page states secured and clean-loan options for pensioners.
Source
Star Pensioner Loan — Bank of India
Page / section
Features / Advantages
Accessed
30 Aug 2026
Confidence
high
Open official source ↗
Maximum financeMaximum amount up to ₹10 lakh. Maximum quantum is 20 times net monthly pension for a secured loan and 15 times for a clean loan.View source
The official feature list publishes ₹10 lakh maximum and separate 20x/15x net-monthly-pension multiples.
Source
Star Pensioner Loan — Bank of India
Page / section
Features / Advantages
Accessed
30 Aug 2026
Confidence
high
Open official source ↗
Interest rateStarts from 10.85% p.a.; interest is calculated on a daily reducing balance.View source
The page publishes 10.85% starting and daily reducing-balance calculation.
Source
Star Pensioner Loan — Bank of India
Page / section
Rate of Interest
Accessed
30 Aug 2026
Confidence
high
Open official source ↗
Maximum tenureUp to 60 months.View source
The feature list states maximum repayment tenure up to 60 months.
Source
Star Pensioner Loan — Bank of India
Page / section
Features
Accessed
30 Aug 2026
Confidence
high
Open official source ↗
Processing feeSenior citizens: nil processing charge. Others: 0.50% of loan amount, minimum ₹250 and maximum ₹1,000.View source
The charges section publishes nil senior-citizen fee and the 0.50% tier for others.
Source
Star Pensioner Loan — Bank of India
Page / section
Charges
Accessed
30 Aug 2026
Confidence
high
Open official source ↗
PrepaymentNo prepayment penalty is published.View source
The official advantages list says no prepayment penalty.
Source
Star Pensioner Loan — Bank of India
Page / section
Advantages
Accessed
30 Aug 2026
Confidence
high
Open official source ↗
EligibilityIndividuals drawing pension through a Bank of India branch; maximum age 75 years at final repayment.View source
The eligibility section names pensioners drawing pension through a Bank branch and the 75-year age limit.
Source
Star Pensioner Loan — Bank of India
Page / section
Eligibility
Accessed
30 Aug 2026
Confidence
high
Open official source ↗
Minimum incomeNo fixed rupee pension or income minimum is published; quantum is linked to net monthly pension and the applicant must provide the pension payment order (PPO).View source
The page publishes pension multiples and asks for PPO but no fixed minimum pension amount.
Source
Star Pensioner Loan — Bank of India
Page / section
Eligibility / Documents
Accessed
30 Aug 2026
Confidence
high
Open official source ↗
Pricing basisThe page publishes daily reducing-balance interest but no separate named benchmark.View source
No , repo or other named benchmark is shown on the reviewed page.
Source
Star Pensioner Loan — Bank of India
Page / section
Rate of Interest
Accessed
30 Aug 2026
Confidence
high
Open official source ↗
APRNo separate APR figure or methodology is published.View source
The page gives and charges but no calculation.
Source
Star Pensioner Loan — Bank of India
Page / section
Rate of Interest
Accessed
30 Aug 2026
Confidence
high
Open official source ↗
TenureA Bank of India pensioner loan with secured or clean-loan quantum linked to net monthly pension and repayment up to 60 months.View source
The manually reviewed product summary states: “A Bank of India pensioner loan with secured or clean-loan quantum linked to net monthly pension and repayment up to 60 months.”.
Source
Star Pensioner Loan — official product page
Page / section
Published loan terms in product summary
Accessed
30 Aug 2026
Confidence
high
Open official source ↗
Geographic limitsIndividuals drawing pension through a Bank of India branch; maximum age 75 years at final repayment.View source
The manually reviewed product record states: “Individuals drawing pension through a Bank of India branch; maximum age 75 years at final repayment.”.
Source
Star Pensioner Loan — official product page
Page / section
Published product metadata
Accessed
30 Aug 2026
Confidence
high
Open official source ↗

Benefits and features

  • Nil processing fee for senior citizens
  • Clean loan option
  • No prepayment penalty published

Eligibility

  • Pension must be drawn through a Bank of India branch; maximum age 75 years at final repayment.

Passing a listed condition does not mean the bank will approve an application.

Documents the bank lists

  • Identity/address proof and PPO with branch.

Related official documents

Star Pensioner Loan — official product pageofficial-product-page · current · accessed 30 Aug 2026
↗

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Loan repayment estimate

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One monthly payment₹21,696twenty-one thousand six hundred ninety-six rupees
Interest paid over the full loan₹27,06,939twenty-seven lakh six thousand nine hundred thirty-nine rupees
Everything you repay₹52,06,939fifty-two lakh six thousand nine hundred thirty-nine rupees

This is only an estimate, not a bank or insurer offer. The final amount can change because of taxes, fees, rate changes and provider rules.

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Borrower · Published detailPensioner drawing pension through a Bank of India branch

This value is copied from Star Pensioner Loan — published terms. Check the table notes before relying on it.

Source: Star Pensioner Loan — Bank of India · Features / Eligibility / Rate of Interest & Charges / Documents Open official source ↗

Published tables

Complete rates, limits and schedules

Tables preserve every reviewed row and column from the cited official source.

Table 1 · 7 rows · 2 columnsStar Pensioner Loan — published termsTerms reproduced from the official page.View tableHide table

Scroll sideways to view every column

Star Pensioner Loan — published terms
ParameterPublished detail
BorrowerPensioner drawing pension through a Bank of India branch
Maximum amount₹10 lakh; 20x net monthly pension secured / 15x clean
Rate10.85% p.a. onwards; daily reducing balance
TenureUp to 60 months
ProcessingSenior citizen nil; others 0.50%, ₹250–₹1,000
AgeUp to 75 years at final repayment
PrepaymentNo prepayment penalty published
Star Pensioner Loan — Bank of India · Features / Eligibility / Rate of Interest & Charges / Documents · accessed 30 Aug 2026Open official source ↗

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