Allahabad Bank Loans

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Founded on 24th April, 1865, Allahabad Bank is the oldest Joint Stock Bank of the Country. The bank was founded by a group of Europeans in Allahabad. The bank has its head office at Kolkata, with numerous branches spread all over the country.

Allahabad Bank offers loans of various types to meet the requirements of the individuals. It offers loans to self employed persons, business men, salaried employees and professionals. The diverse range of Allahabad Bank loans that are offered to the individuals includes:

  • Housing Loan
  • Education Loan
  • Car Loan
  • Saral Loan
  • Personal Loans for Pensioners
  • Personal Loans for Doctors
  • Loan against NSC/KVP
  • Allbank Rent Loan
  • Allbank Property Scheme
  • Allbank Furnishing Loan
  • Gold Loan Scheme
  • All Bank Mobike Scheme
  • AllBank Abhushan Scheme
  • Allbank Trade Scheme
  • AllBank Gyan Dipika Scheme
  • AllBank Reverse Mortgage Scheme
Allahabad Bank Car Laons

The car loans by the Allahabad Bank are given for the purchase of the new vehicle, which are to be for personal use only. It also offers loans for the purchase of pre- owned vehicle, which is not more than 3 years old.

To get the benefit of the loan, the person should be a salaried person, with the gross income of ` 10,000 p.m. Agriculturalists and professional self employed and business men are also eligible to get loans from Allahabad Bank. It must be kept in mind that the car loan should be fully repaid before the individual turns 70 years of age.

The car loan amount that is offered to the individual does not exceed 2 times of the Net Annual Income or Net Annual Salary.

Allahabad Bank Home Loans

Allahabad Bank offer home loans for the construction of the residential house on the already owned land. It also offers loans for other purposes like purchase of plot by salaried people, purchase of flat or house, renovation of residential house and other purposes.

Home loans are offered to permanent salaried people, businessmen, self employed persons and individuals with regular income who can liquidate loans. Allahabad Bank offers term loans to the loan seekers.

For the salaried persons the loan amount is restricted to 60 times of the monthly gross salary. For other individuals, the loan amount is limited to 4 times of the gross income.

Allahabad Bank Education Loans

The educational loans are offered by the Allahabad Bank to the Indian students only. The students should seek admission to educational courses through entrance test selection process. The bank offers loans for various courses like graduation and post graduation courses, professional courses, computer certificate courses, courses conducted by IIM, IIT etc. Allahabad Bank offers loans for studies abroad as well.

For the students studying in India, the maximum loan amount offered is ` 10 lacs and for studying abroad the maximum loan amount increases to ` 20 lacs.

Allahabad Bank Personal Loans

Personal loans are offered to all the pensioners drawing pensions from Allahabad Bank. The personal loans are given to the pensioners who have not exceeded 70 years of age. This kind of loan can be availed without assigning any definite purpose. The maximum loan amount of ` 75,000 and minimum of ` 15,000 are offered to the individuals.

Personal loans are also provided to the doctors and medical practitioners by the Allahabad Bank. The loans are offered for the expenses of professional requirement. Annual income or ` 5 lacs, whichever is less are offered as the loan amount.

Allahabad Bank Loans are offered to the Non Resident Indians as well. NRIs are offered housing loans and education loans by this bank.

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