Allahabad Bank Car Laons,Home Loans,Education Loans,Personal Loans Details & Features

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 Rs. 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 Rs.10 lacs and for studying abroad the maximum loan amount increases to Rs. 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 Rs.75,000 and minimum of Rs.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 Rs. 5 lacs, whichever is less are offered as the loan amount.

ALLAHABAD BANK PREMIUM SAVINGS BANK ACCOUNT

PEOPLE WHO CAN APPLY
- Individuals, Joint accounts, Minor accounts, Illiterates

MINIMUM BALANCE ALLAHABAD BANK PREMIUM SAVINGS BANK ACCOUNT
- The account holders are required to maintain a minimum balance of Rs.5000/- in rural areas.
- The account holders are required to maintain a minimum balance of Rs.20000/- in semi urban and urban areas.

IMPORTANT AND VALUE PLUS ATTRIBUTES
-2 free remittances in a month to debit of the account.
- 25% discount on all service charges for Any Amount and Any Number of Times. (more…)

ALLAHABAD BANK TAX BENEFIT TERM DEPOSIT SCHEME FIXED DEPOSIT SCHEME

PEOPLE WHO CAN BENEFIT FROM CANARA BANK TAX SAVER SCHEME TERM DEPOSIT
- An individual can benefit from this term deposit or fixed deposit.
- A ‘Karta’ of a Hindu undivided family (HUF) can apply for it and save tax.
- An account can be opened jointly by two adults or an adult and a minor. (In the case of joint account, the deduction from income under Section 80C of the Income Tax Act, 1961 shall be available only to the first holder of the deposit)

FOR INTEREST RATES (more…)

ALLAHABAD BANK NO FRILLS SAVING ACCOUNT : RS 5 BANKING

ELIGIBLE PEOPLE ALLAHABAD BANK NO FRILLS SAVING ACCOUNT : RS 5 BANKING –
- Individuals, Joint accounts, Minor accounts, Illiterates
- HUF, Non-corporate bodies, Clubs, Societies, Associations
- Schools, Trusts, Executors/ Administrators
- Govt. bodies, Semi-Government Departments

IMPORTANT ATTRIBUTES
(more…)

ALLAHABAD BANK INTEREST RATES ON TERM DEPOSITS AND FIXED DEPOSITS 10 AUG 2011

Revised Interest Rate p.a. (%)

7 days to 14 days – 4.00

15 days to 29 days – 5.00

30 days to 45 days – 5.00

46 days to 60 days – 5.50

61 days to 90 days – 6.00

91 days to 179 days – 7.00

180 days to 269 days – 8.00

270 days to 364 days – 8.00

1 year to less than 2 years – 9.00

2 years to less than 3 years – 9.00

3 years to less than 5 years – 8.75

5 years and upto 10 years – 8.50

- Rate of interest of the fixed period for 300 days is 8.00% and for 450 days is 9.25%.

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