Allahabad Bank Personal Loan

 

Allahabad Bank Personal Loan

Allahabad Bank Personal Loan is an easy way to get a loan. Especially for those customers who need immediate credit at affordable interest rates. So, apply online on bookmyloans.in now. Moreover, no security is needed against the loan. 

 


Why Allahabad Bank ?

Allahabad Bank has good schemes on Personal Loans coupled with their availability to both self-employed and salaried working people. Not only that but the rate of interest is fixed and subsequently charged on a monthly reducing basis. Therefore, Allahabad Bank is the way to go.


Benefits

Next, there are many reasons why you should think about getting your personal loan from this bank. So, they are listed as follows:

 

Digital Application 

Online application from the comfort of home. 

Credit Range

Rs.50,000 to Rs. 50,00,000 based on your income and other factors.

Dependable

Quick money in hand can play the most important part in your life. Fortunately, no security is required. Hence, you do not have to worry about any asset.

Tailored and Flexible

Additionally, the bank allows for schemes whereby they bring in all segments of the socio-economic society.

Documentation

Now, the list below shows options for documents:

Identity proof  

Passport, PAN Card, Aadhaar card, Voter ID, Driving license or Government issued Identity cards. 

Residential Proof  

Passport, Driving License, Voter ID card, utility bills such as Electricity/ Telephone/ Mobile bill, bank statement (not more than 3 months old) or similarly a Leave and License agreement.

Income Proof  

Last 3 months’ salary slip, last 6 months’ bank account statement showing salary credit and Last 1-2 years Form 16.   

Age Proof  

PAN card, Passport, Driving License, Voter ID, Birth certificate, Employee ID card (only for PSU/ Government employees), School/ college leaving certificate.

Eligibility Criteria

 

Make sure to check eligibility criteria.

Income

A salary of Rs.20,000/- per month.

Minimum education

The applicant should be a Graduate.

Stability

Moreover, applicant should be living in a city for atleast one year.

Job Stability

Minimum work experience of one year is required.

Credit score

Maintain a credit score of 750 or more. As a good CIBIL improves your application.

FAQs

 1. Are there any foreclosure and part-prepayment charges?

 Yes. 

2. How do I repay the Loan?  

 You can pay through E.M.I.s using Electronic Clearance Service. Also through post-dated charges.

3. What is a secure fee for an online application? Also, what if I don’t pay the secure fees online?

The secure fee is a charge for the submission or processing of your application. In response to the second part, you lose the benefit of instant approval.

4. How secure is the information provided by me? 

 It is secure.

5. Do I have to give any security?

 No

6. Is it safe to use my debit card on this site? 

 Yes

Interest Rates

Lastly, you want to consider the rate of interest coupled with other fees.

 

CATEGORY

SALARIED SELF-EMPLOYED

Lowest Interest Rates

11.99% 14.00%

Processing Fee

1.50% to 3% Up to 2% of loan amount

Tenure of Loan

24 months to 60 months 12 months to 48 months

Amount of Loan

Rs.1 Lakh up to Rs.25 Lakh Rs.5 Lakh up to Rs.30 Lakh

Part Prepayment Charges

Allowed after 1 EMI. 2% Allowed after 1 EMI.  2%

Pre-closure Charges

Allowed after 1 EMI. 4% Allowed after 1 EMI. 4%