Allahabad Bank has decreased its loan against property interest rates by 0.20%, or 20 basis points with effect from Friday, December 01, 2017. This interest rate cut will reduce the cost for those people who want to avail loan against mortgage of their immovable property.
Allahabad Bank – Current Interest Rates for Loan Against Mortgage of Immovable Property
New Delhi (Delhi, India), February 20, 2018
Allahabad Bank Cuts Loan Against Property Interest Rate to 13.75% Per Annum
The Allahabad Bank has decreased its loan against property interest rates by 0.20 percent, or 20 basis points with effect from Friday, December 01, 2017.
Allahabad Bank has revised its minimum loan against property interest rate from 13.95 percent to 13.75 percent per annum (MCLR-1Year + 5.50%) for the self-occupied residential property under Allahabad Bank Property Scheme.
The loan against property interest rate of Allahabad Bank is benchmarked or linked to its One-Year MCLR (Marginal Cost of Funds based Lending Rate). Allahabad Bank’s current One-Year MCLR, which is called MCLR-1Y, is 8.25 percent per annum with effect from Friday, December 01, 2017.
Allahabad Bank’s current interest rate cut will reduce the cost of funds for those people who want to avail loan against mortgage of their immovable property.
Allahabad Bank Property Finance – Current Loan Against Property Interest Rates for Various Category of Properties
Allahabad Bank Loan Against Mortgage of Self-Occupied Residential Property Interest Rate: 13.75% Per Annum
Allahabad Bank Loan Against Mortgage of Non Self-Occupied Residential Property Interest Rate: 13.75% Per Annum
Allahabad Bank Loan Against Mortgage of Commercial Property Interest Rate: 13.75% Per Annum
Allahabad Bank Loan Against Property for Purchase of Commercial Property Interest Rate: 13.75% Per Annum
Allahabad Bank Loan Against Property for Reverse Mortgage Interest Rate: 13.75% Per Annum
Allahabad Bank Loan Against Property for Lease Rental Discounting Interest Rate: 12.25% Per Annum
Allahabad Bank Loan Against Property for Overdraft Facility Against Residential Property Interest Rate: 13.75% Per Annum
Allahabad Bank Loan Against Property for Overdraft Facility Against Commercial Property Interest Rate: 13.75% Per Annum
Allahabad Bank Loan Against Property Minimum Borrowing Amount: Minimum Loan Against Property Amount is Rs. 5,00,000
Allahabad Bank Loan Against Property Maximum Borrowing Amount: Maximum Loan Against Property Amount is Rs. 2,00,00,000
Allahabad Bank Loan Against Property Rate of Interest is Floating or Fixed: Floating Rate of Interest (Reset Period 1 Year)
Minimum Age Limit for Getting the Allahabad Bank Loan Against Property Sanctioned: Minimum Age 21 Years at the Time of Loan Commencement
Maximum Age Limit for Getting the Allahabad Bank Loan Against Property Sanctioned: Maximum Age 70 Years for Salaried Applicants and Self-Employed Applicants at the Time of Loan Sanction
Minimum Tenure for the Allahabad Bank Loan Against Property: Minimum Home Loan Tenure is 3 Years (36 Months)
Maximum Tenure for the Allahabad Bank Loan Against Property: Maximum Home Loan Tenure is 9 Years (108 Months)
Allahabad Bank Loan Against Mortgage of Immovable Property Processing Fee and Documentation Charges: 1.00% of the Loan Amount (Minimum Rs. 5,000 plus GST)
Charges for Allahabad Bank Loan Against Property EMI Late Payment: Minimum 2% Per Month of the Allahabad Bank Loan EMI Outstanding Amount (Minimum Rs. 500 plus GST)
Allahabad Bank Loan Against Property Pre Closure Charges or Prepayment Penalty: 2.00% of the Foreclosed Amount plus GST
Allahabad Bank Loan Against Property EMI Cheque, SI, or ECS Bounce Charges: Rs. 500 plus GST
Different Options for Making Allahabad Bank Loan Against Property EMI Payments: The four options for making EMI payments are Internet Banking, Standing Instruction (SI), Electronic Clearing Service (ECS), or Post-Dated Cheques (PDCs)
Guarantor Requirement for the Allahabad Bank Loan Against Property: No Guarantor is Required
Allahabad Bank Loan Against Property Minimum Margin Amount: (1) Minimum 50% for for Loan Against Residential or Commercial Property, and (2) Minimum 60% for Loan Against Residential or Commercial Plot or Open Land
Allahabad Bank – Deposits and Loans Interest Rates
Current Deposits and Loans Interest Rates of Allahabad Bank