Borrowing in Retirement: Smart Loan Options for Senior Citizens

• Retirement brings income changes but not financial needs; medical bills, home repairs, or helping children may require funds.
• Personal loans for pensioners are available, especially from banks where they have a long relationship, though amounts and tenures may be smaller.
• Loan against Fixed Deposits is a simple, safe option, allowing borrowing without breaking the FD, with minimal paperwork and low cost for short-term needs.
• Loan against property offers lower interest rates for larger amounts but carries significant risk as the home is at stake; requires steady income confidence.
• Reverse mortgages provide regular income against a home for retirees with limited income, while gold loans offer quick funds with lower interest rates but require repayment discipline.