Allahabad bank provides personal loan to pensioner of state and central govt. and teachers drawing pensions from banks branches. Bank allows pensioners to take loan who are drawing pension from post offices / other banks in accordance with the conditions. Bank gives personal loans to doctors / medical practitioners to make easy for them to meet their professional requirements.
Highlights
Salaried
Self Employed
Loan Scheme
Saral Loan
Saral Loan
Loan Type
Term Loan
Term Loan
Loan Amount
Min. - Rs 50000
Max. - Rs 300000
24 months net salary or maximum Rs 7,50,000/- whichever is less.
Tenure
Min. - 12 months.
Max. - 60 months.
Min. - 12 months.
Max. - 60 months.
Interest Rate
Min. - 15.25 %
Min. - 15.25 %
Time to Process Loan
4 days
4 days
Fees & charges
Fees & charges
Salaried
Self Employed
Processing Fee
1.2 %
1.2 %
Comment on Charges
margin-10%
Prepayment penalty-2.25%
margin 10%
Prepayment penalty - 2.25%
Security
Security
Hypothecation of articles being financed and /or other items covering full value of loan
Guarantee of spouse and one co-employee OR Guarantee of two co-employees
Pledge / Assignment of NSC, KVP, LIP & FDR or Equitable Mortgage of the property if available/ proposed.