Re: bankpensioner Pension Loan

[Shankaran Jayaraman]

Sent from Yahoo Mail on Android

On Sun, 14 Aug, 2016 at 12:33 pm, RAVINDRANATH N N

<nnravin...@gmail.com> wrote:

please EMI for 60 months?

On Sat, Aug 13, 2016 at 11:11 PM, JSOMA SHEKARA <jsomase...@gmail.com> wrote:

Canara Bank has increased ex employees  pension loan limit to Rs.500000 from Rs.400000.
Now it is 20 months Pension or Rs.500000 which ever is lower.
Repayment period is 72 months for those below age of 65 years and 60 months for those above   65 years.
Net home take pension should be 40%. Cap of minimum home take pay of Rs.7500 is removed.
Present rate of interest is 10.85%.

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[Logu Kuppan]

Dear Sir,

Can anyone clarify and confirm with Advances sec(credit wing,Ho,Bangaluru) in respect of interest rate.Once i contacted Ho customer care and asked the rate of interest they informed at present it is Base Rate + 1.50 i.e.9.35+1.50=10.85.But when contacted Adv.Sec,C.O chennai they told it is base rate +3.00=12.55%..As per interest for Canara Pension loan for our bank retirees is one year MCLR +1.50%.

Please confirm with appropriate authority and inform.

Thanking you,

Yours Sincerely,

K.Loganathan.

=1.50

On Sat, Sep 10, 2016 at 6:22 PM, 'Shankaran Jayaraman' via bankpensioner <bankpe...@googlegroups.com> wrote:

Sent from Yahoo Mail on Android

On Sun, 14 Aug, 2016 at 12:33 pm, RAVINDRANATH N N

<nnravin...@gmail.com> wrote:

please EMI for 60 months?

On Sat, Aug 13, 2016 at 11:11 PM, JSOMA SHEKARA <jsomase...@gmail.com> wrote:

Canara Bank has increased ex employees  pension loan limit to Rs.500000 from Rs.400000.
Now it is 20 months Pension or Rs.500000 which ever is lower.
Repayment period is 72 months for those below age of 65 years and 60 months for those above   65 years.
Net home take pension should be 40%. Cap of minimum home take pay of Rs.7500 is removed.
Present rate of interest is 10.85%.

--
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[Mohandas Rao]

Dear Sri Loganathan,

The attached recent circular of the retirees' union of CANARA BANK may be of use to you.

K. MOHANDAS RAO

On 11 September 2016 at 10:13, Logu Kuppan <logana...@gmail.com> wrote:

Dear Sir,

Can anyone clarify and confirm with Advances sec(credit wing,Ho,Bangaluru) in respect of interest rate.Once i contacted Ho customer care and asked the rate of interest they informed at present it is Base Rate + 1.50 i.e.9.35+1.50=10.85.But when contacted Adv.Sec,C.O chennai they told it is base rate +3.00=12.55%..As per interest for Canara Pension loan for our bank retirees is one year MCLR +1.50%.

Please confirm with appropriate authority and inform.

Thanking you,

Yours Sincerely,

K.Loganathan.

=1.50

[perumal maruthu]

It is 1.5% plus MCLR.  ..........(HO Cir445/2016

Present MCLR is 9.35%.  Hence. it is 9.35+1.5=10.85%(at present)

MCLR is subject to change very often; hence pl browse Bank's website for the latest one!.....http://www.canarabank.com/English/scripts/mclr_new.aspx

(Since there are 5 Parameter-linked MCLRs, no two persons give the same one.

Hence, the confusion at HO/CO/Branch Level)

M.Perumal

.

---

From: Logu Kuppan <logana...@gmail.com>
To: bankpe...@googlegroups.com
Cc: RAVINDRANATH N N <nnravin...@gmail.com>
Sent: Sunday, 11 September 2016 10:13 AM
Subject: Re: bankpensioner Pension Loan

To unsubscribe from this group and stop receiving emails from it, send an email to bankpensione...@googlegroups.com.

[S.R.Rajaraman]

Advances Section  Co  Chennai do not concur with the guidelines given by HO.

They have their own ideas and policies at the whims and fancies of the Section  head who is a genius especially regarding loans to pensioners

On 12 September 2016 at 01:07, 'perumal maruthu' via bankpensioner <bankpe...@googlegroups.com> wrote:

It is 1.5% plus MCLR.  ..........(HO Cir445/2016

Present MCLR is 9.35%.  Hence. it is 9.35+1.5=10.85%(at present)

MCLR is subject to change very often; hence pl browse Bank's website for the latest one!.....http://www.canarabank.com/English/scripts/mclr_new.aspx

(Since there are 5 Parameter-linked MCLRs, no two persons give the same one.

Hence, the confusion at HO/CO/Branch Level)

M.Perumal

.

---

From: Logu Kuppan <logana...@gmail.com>
To: bankpe...@googlegroups.com
Cc: RAVINDRANATH N N <nnravin...@gmail.com>
Sent: Sunday, 11 September 2016 10:13 AM
Subject: Re: bankpensioner Pension Loan

Dear Sir,

Can anyone clarify and confirm with Advances sec(credit wing,Ho,Bangaluru) in respect of interest rate.Once i contacted Ho customer care and asked the rate of interest they informed at present it is Base Rate + 1.50 i.e.9.35+1.50=10.85.But when contacted Adv.Sec,C.O chennai they told it is base rate +3.00=12.55%..As per interest for Canara Pension loan for our bank retirees is one year MCLR +1.50%.

Please confirm with appropriate authority and inform.

Thanking you,

Yours Sincerely,

K.Loganathan.

=1.50

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S.R.Rajaraman

[Vinod Talari]

Mr.Perumal some of the branches are insisting on spouse signature on loan papers for availing loan against pension.Is it required as per the bank circulars.

[perumal maruthu]

Yes! All Banks are insisting on the Co-obligation of the Family Pensioner!

M.Perumal

---

From: 'Vinod Talari' via bankpensioner <bankpe...@googlegroups.com>
To: bankpe...@googlegroups.com
Sent: Tuesday, 13 September 2016 2:11 PM

[S.R.Rajaraman]

Circular says spouse or a suitable person.  But branches insist spouse only

On 13 September 2016 at 04:41, 'Vinod Talari' via bankpensioner <bankpe...@googlegroups.com> wrote:

Mr.Perumal some of the branches are insisting on spouse signature on loan papers for availing loan against pension.Is it required as per the bank circulars.

On Sep 12, 2016 10:37 AM, 'perumal maruthu' via bankpensioner <bankpensioner@googlegroups.com> wrote:

It is 1.5% plus MCLR.  ..........(HO Cir445/2016

Present MCLR is 9.35%.  Hence. it is 9.35+1.5=10.85%(at present)

MCLR is subject to change very often; hence pl browse Bank's website for the latest one!.....http://www.canarabank.com/English/scripts/mclr_new.aspx

(Since there are 5 Parameter-linked MCLRs, no two persons give the same one.

Hence, the confusion at HO/CO/Branch Level)

M.Perumal

.

---

From: Logu Kuppan <logana...@gmail.com>
To: bankpe...@googlegroups.com
Cc: RAVINDRANATH N N <nnravin...@gmail.com>
Sent: Sunday, 11 September 2016 10:13 AM
Subject: Re: bankpensioner Pension Loan

Dear Sir,

Can anyone clarify and confirm with Advances sec(credit wing,Ho,Bangaluru) in respect of interest rate.Once i contacted Ho customer care and asked the rate of interest they informed at present it is Base Rate + 1.50 i.e.9.35+1.50=10.85.But when contacted Adv.Sec,C.O chennai they told it is base rate +3.00=12.55%..As per interest for Canara Pension loan for our bank retirees is one year MCLR +1.50%.

Please confirm with appropriate authority and inform.

Thanking you,

Yours Sincerely,

K.Loganathan.

=1.50

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S.R.Rajaraman

[Anantharaman Tg]

Even for the pension account, I understand that some of the Banks insist on the same to be a joint account with the spouse for obvious reasons.

You also know that even in housing loan, personal loan etc. jointly with spouse is insisted and there may be a small concession, say 0.5% interest in such cases.

Anantharaman

On 13 September 2016 at 17:36, S.R.Rajaraman <srraj...@gmail.com> wrote:

Circular says spouse or a suitable person.  But branches insist spouse only

On 13 September 2016 at 04:41, 'Vinod Talari' via bankpensioner <bankpensioner@googlegroups.com> wrote:

Mr.Perumal some of the branches are insisting on spouse signature on loan papers for availing loan against pension.Is it required as per the bank circulars.

On Sep 12, 2016 10:37 AM, 'perumal maruthu' via bankpensioner <bankpe...@googlegroups.com> wrote:

It is 1.5% plus MCLR.  ..........(HO Cir445/2016

Present MCLR is 9.35%.  Hence. it is 9.35+1.5=10.85%(at present)

MCLR is subject to change very often; hence pl browse Bank's website for the latest one!.....http://www.canarabank.com/English/scripts/mclr_new.aspx

(Since there are 5 Parameter-linked MCLRs, no two persons give the same one.

Hence, the confusion at HO/CO/Branch Level)

M.Perumal

.

---

From: Logu Kuppan <logana...@gmail.com>
To: bankpe...@googlegroups.com
Cc: RAVINDRANATH N N <nnravin...@gmail.com>
Sent: Sunday, 11 September 2016 10:13 AM
Subject: Re: bankpensioner Pension Loan

Dear Sir,

Can anyone clarify and confirm with Advances sec(credit wing,Ho,Bangaluru) in respect of interest rate.Once i contacted Ho customer care and asked the rate of interest they informed at present it is Base Rate + 1.50 i.e.9.35+1.50=10.85.But when contacted Adv.Sec,C.O chennai they told it is base rate +3.00=12.55%..As per interest for Canara Pension loan for our bank retirees is one year MCLR +1.50%.

Please confirm with appropriate authority and inform.

Thanking you,

Yours Sincerely,

K.Loganathan.

=1.50

--

S.R.Rajaraman

[perumal maruthu]

Spouse is the Family Pensioner. Hence, Branches are right in  insisting on the Co-obligation of the Spouse.

Where the spouse is no more, "suitable" coobligation of a Third party is insisted. In such cases, "suitable" means another Pensioner of the Bank drawing Pension in the same Branch.

M.Perumal

---

From: S.R.Rajaraman <srraj...@gmail.com>
To: bankpe...@googlegroups.com
Sent: Tuesday, 13 September 2016 5:36 PM

Subject: Re: bankpensioner Pension Loan

Circular says spouse or a suitable person.  But branches insist spouse only

On 13 September 2016 at 04:41, 'Vinod Talari' via bankpensioner <bankpe...@googlegroups.com> wrote:

Mr.Perumal some of the branches are insisting on spouse signature on loan papers for availing loan against pension.Is it required as per the bank circulars.

On Sep 12, 2016 10:37 AM, 'perumal maruthu' via bankpensioner <bankpensioner@googlegroups. com> wrote:

It is 1.5% plus MCLR.  ..........(HO Cir445/2016

Present MCLR is 9.35%.  Hence. it is 9.35+1.5=10.85%(at present)

MCLR is subject to change very often; hence pl browse Bank's website for the latest one!.....http://www. canarabank.com/English/ scripts/mclr_new.aspx

(Since there are 5 Parameter-linked MCLRs, no two persons give the same one.

Hence, the confusion at HO/CO/Branch Level)

M.Perumal

.

---

From: Logu Kuppan <logana...@gmail.com>
To: bankpe...@googlegroups.com
Cc: RAVINDRANATH N N <nnravin...@gmail.com>
Sent: Sunday, 11 September 2016 10:13 AM
Subject: Re: bankpensioner Pension Loan

Dear Sir,

Can anyone clarify and confirm with Advances sec(credit wing,Ho,Bangaluru) in respect of interest rate.Once i contacted Ho customer care and asked the rate of interest they informed at present it is Base Rate + 1.50 i.e.9.35+1.50=10.85.But when contacted Adv.Sec,C.O chennai they told it is base rate +3.00=12.55%..As per interest for Canara Pension loan for our bank retirees is one year MCLR +1.50%.

Please confirm with appropriate authority and inform.

Thanking you,

Yours Sincerely,

K.Loganathan.

=1.50

--

S.R.Rajaraman

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[harinarayana sarma nandivada]

Very lucid, logical, rational and legally acceptable explanation Sir enlightening all concerned.

Thanks   

---

From: 'perumal maruthu' via bankpensioner <bankpe...@googlegroups.com>
To: "bankpe...@googlegroups.com" <bankpe...@googlegroups.com>
Sent: Wednesday, 14 September 2016, 19:40