SBS Employees Personal Loan

State Bank of Sikkim Pensioners Loan

Cause we care for you, State Bank of Sikkim offers the most unique loan scheme in the form of SBS Pensioners Loan at the most affordable rate of interest.

Hassle free documentation, easy processing, easy repayment schedule and low interest rate. SBS Pensioners Loan is ideal for all the pensioners of State Government of Sikkim.


A. Loan under the scheme will be granted to Individuals drawing regular pension from State Government of Sikkim.
B. Individuals should be below the age of 70.

Amount of Loan

The maximum amount loan under the scheme is restricted to Rs. 3,00,000/= or fifteen times of the Net Pension whichever is less.

Rate of Interest

The rate of interest on the loan shall be 12.00% on monthly rest basis and interest shall be calculated from the date of disbursement of loan


The loan will be disbursed to the borrower's Savings Bank Account maintained with State Bank of Sikkim after deduction of applicable charges.

Processing Fee

Loans shall be charged a processing fee @ 1% with minimum of Rs. 500.00


Application for SBS Pensioners Loan will have to be made in prescribed loan application form available at Head Office.

State Bank of Sikkim reseves the right to decline the application with or without any reason.

Repayment of Principal and Interest

(i) The loans along with interest shall be repayable in maximum of 48 equated monthly installments.

(ii) The recovery will commence from the next month of disbursement of Pension.

(iii) The loanee can, if so desires, may repay before the due date with any amount against future installments payable to him.

(iv) If the repayment of principal and interest are not made as per the declaration / authorization made by the applicant in the application form, penal interest at the rate of 2 (two) percent shall be charged.

Download Pensioners Loan Form

Click to download SBS Pensioners Loan Form

SBS Savings Account Form Download
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