How to Get Rs. 50,000 Pension Loan from EOBI?

Do you know that now EOBI pensioners can get a loan of up to Rs. 50000? Yes, if you are a retired private employee or semi-government employee then you can avail this loan opportunity now.

Pakistan’s U Microfinance Bank is offering a loan of 50,000 to those who are facing financial difficulties. In this article, I will let you through the complete process of applying for a Rs. 50000 loan from EOBI.

How to Get Rs. 50,000 Pension Loan from EOBI

You will know how to apply, what is the markup rate and who can qualify for this loan from the Ubank.

What Documents Are Required to Apply for EOBI Pension Loan?

Here is the list of documents that are required to apply for the 50000 EOBI pension loan:

  • Original CNIC and attested copy.
  • 2 passport-size photos.
  • EOBI pension card/book

Who Is Eligible for a 50000 Loan?

Only those who are currently registered with EOBI and receiving pension payments are allowed to get this loan. Also, the age of the loan applicant should be above 75 years old.

Application Process for EOBI Pension Loan

Step 1: Prepare Your Documents

Gather all the required documents listed above. Ensure that the copies are attested and that you have both the originals and the copies ready.

Step 2: Visit U Microfinance Bank Branch

Locate the nearest U Microfinance Bank branch. You can use the bank’s website or customer service to find the most convenient branch for you.

Step 3: Obtain the Application Form

Once at the branch, approach the customer service desk and request an application form for the EOBI pension loan. The bank staff will provide you with the necessary form.

Step 4: Fill Out the Application Form

Complete the application form with accurate and detailed information. Be prepared to provide:

  • Your personal details
  • CNIC number
  • Pension details
  • Contact information

Step 5: Submit the Application

Submit the filled-out application form along with the required documents (original and attested copies of CNIC, passport-size photos, and EOBI pension card/book) to the bank staff.

Step 6: Verification Process

The bank will verify your documents and details. This process might take some time as the bank needs to ensure that all the information provided is accurate and you meet the eligibility criteria.

Step 7: Approval and Disbursement

If your application is approved, the bank will inform you about the loan approval. The loan amount will be disbursed to your designated bank account, and you will receive a confirmation.

Markup Rate

U Microfinance Bank’s 27% markup rate applies to your loan during the application process. You will have the 24-month installment. Ensure that you understand the terms and conditions, including the interest rate and repayment schedule, before accepting the loan.