Allahabad Bank has decreased its personal loan interest rates by 0.20%, or 20 basis points with effect from Friday, December 01, 2017. This interest rate cut will reduce the cost of funds for those people who want to avail Allahabad Bank personal loans.
Allahabad Bank – Current Personal Loans Interest Rates
New Delhi (Delhi, India), February 21, 2018
Allahabad Bank Cuts Personal Loan Interest Rate to 12.75% Per Annum
The Allahabad Bank has decreased its personal loan interest rates by 0.20 percent, or 20 basis points with effect from Friday, December 01, 2017.
Allahabad Bank has revised its personal loan minimum interest rate from 12.95 percent to 12.75 percent per annum (MCLR-1Year + 4.50%) for Allahabad Bank personal loan applicants.
The personal loan 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 Allahabad Bank personal loans.
Allahabad Bank – Current Personal Loan Interest Rates for the New Loans
Allahabad Bank Personal Loan Interest Rate for Salaried and Self-Employed Applicants: 12.75% Per Annum
Allahabad Bank Personal Loan Interest Rate for Pensioners: 11.75% Per Annum
Allahabad Bank Personal Loan Interest Rate for Doctors or Medical Practitioners Applicants: 13.25% Per Annum
Allahabad Bank Personal Loans Rate of Interest is Floating or Fixed: Fixed Rate of Interest
Allahabad Bank Personal Loan Processing Fee: 1.22% of the Personal Loan Amount (Minimum Rs. 609 Maximum Rs. 5,000 plus GST)
Allahabad Bank Personal Loan Documentation Charges: Rs. 250 plus GST
Allahabad Bank Personal Loan Minimum Borrowing Amount: Minimum Personal Loan Amount is Rs. 50,000
Allahabad Bank Personal Loan Maximum Borrowing Amount: Maximum Personal Loan Amount is Rs. 5,00,000
Minimum Tenure for the Allahabad Bank Personal Loans: Minimum Personal Loan Tenure is 12 Months
Maximum Tenure for the Allahabad Bank Personal Loans: Maximum Personal Loan Tenure is 60 Months
Minimum Net Income Requirement for Availing Allahabad Bank Personal Loans: Minimum Net Income Required is Rs. 12,000 Per Month
Minimum Age Limit for Getting the Allahabad Bank Personal Loan Sanctioned: Minimum Age 21 Years at the Time of Personal Loan Commencement
Maximum Age Limit for Getting the Allahabad Bank Personal Loan Sanctioned: Maximum Age 75 Years for Salaried Applicants and 70 Years for Self-Employed Applicants at the Time of Personal Loan Maturity
Allahabad Bank Personal Loan Prepayment Penalty:
No prepayment allowed within 12 months from the date of disbursement of the Personal Loan
4% of the Principal Outstanding plus GST within 13 to 24 months from the date of first EMI of Personal Loan
3% of the Principal Outstanding plus GST within 25 to 36 months from the date of first EMI of Personal Loan
2% of the Principal Outstanding plus GST after 36 months from the date of first EMI of the Personal Loan
Allahabad Bank Personal Loan Pre Closure Charges:
No foreclosure allowed within 12 months from the date of disbursement of the Personal Loan
4% of the Principal Outstanding plus GST within 13 to 24 months from the date of first EMI of Personal Loan
3% of the Principal Outstanding plus GST within 25 to 36 months from the date of first EMI of Personal Loan
2% of the Principal Outstanding plus GST after 36 months from the date of first EMI of the Personal Loan
Charges for Allahabad Bank Personal Loan EMI Late Payment: Minimum 2% Per Month of the Allahabad Bank Personal Loan EMI Outstanding Amount plus GST
Allahabad Bank Personal Loan EMI Cheque, SI, or ECS Bounce Charges: Rs. 500 plus GST
Different Options for Making Allahabad Bank Personal Loan EMI Payments: The four options for making Loan EMI payments are Internet Banking, Standing Instruction (SI), Electronic Clearing Service (ECS), or Post-Dated Cheques (PDCs)
Security, Collateral, or Guarantor Requirement for the Allahabad Bank Personal Loan: No Security, Collateral, or Guarantor is Required
Documents Required for the Allahabad Bank Personal Loan: (1) Allahabad Bank Filled up Personal Loan Application Form, (2) Two Passport Size Photos, (3) Income Tax PAN Card Cop, (4) Identity Proof – Passport, Driving License, PAN Card, Voter ID Card (Any One), (5) Residential Address Proof, and (6) Income Documents
Allahabad Bank – Deposits and Loans Interest Rates
Current Deposits and Loans Interest Rates of Allahabad Bank