About Allahabad Bank Personal Loan
- Readily Available: It is available easily in Allahabad Bank, which provides you with the swift and hassle-free process of a personal loan.
- Minimum Documents: Documentation is secure, and nothing is required for the security purpose.
- Fast Approval: After you fill the form, you will get a call from our Relationship manager within 24 to 48 hours.
Personal Loan is a loan which is provided to you by the banks and NBFCs to conquer your financial crisis. As it is an unsecured loan, you don’t have to mortgage any collateral to the lender. The amount of the loan can be used for any purpose so that you can fulfil your financial requirements.
Allahabad Bank Personal Loan Features
- Flexible Usability: In personal loans, you are free to spend the loan amount on any purpose of your life. You are free to invest it as per your need. No asset is required to the bank in exchange for the loan.
- No Collateral: As compare to other banks, the documentation process is straightforward, and there is no need for any assets.
- Flexible Amount of Loan: It depends on your credit history and your CIBIL score. You will get the amount of loan from your credit history or record.
- Flexible Terms: You have a period of 12 months (1 year) to 36 months (3 years).
- Loan Disbursal: If you are eligible for a personal loan, you can get the amount in your account within a few hours.
- No Third-Party Involvement: There is no need for the guarantee for the loan. The loan is between you and your bank.
- Hassle-free Process: It is now easy to get the service of a personal loan; it an effortless process, and additionally, it is available when you are up against a financial crisis.
Interest Rate of Allahabad Bank Personal Loan
- Firstly, a personal loan provides you with the loan at lower interest rates as compared in the market thorugh Dialabank.
- Moreover, it depends on your means of earning, i.e. whether you are a salaried or a self-employed applicant.
- Furthermore, it usually starts at 10.75% per year.
- Most importantly, the tenure of a personal loan generally starts from 1 year to a maximum of 5 years.
Allahabad Bank Personal Loan Eligibility Criteria
Allahabad Bank Personal Loan : Salaried Applicants
- The minimum age required for a salaried applicant is 21 years, and the maximum can be of 60 years.
- The minimum income should be Rs 18,000 per month or more.
- The applicant should have work experience of at least 3 years.
- It is mandatory that the salary should come in their particular account only.
- Furthermore, good credit history is a must. The credit score should be more than 700.
- It is must to submit the bank statements of the last 3 months.
- And lastly, the salary slip of the previous 6 months is also needed.
Allahabad Bank Personal Loan : Self-Employed Applicants
- The minimum age required for Allahabad Bank personal loan for the self-employed applicant is minimum of 25 years to maximum of 65 years.
- ITR process is must. The applicant should file an ITR from the previous 3 years.
- The ITR, which is submitted by the applicant, should be of at least Rs. 2.5 lakhs per annum.
- The credit score of the applicants should be more than 700. Your debt should be clear.
The documentation process of Allahabad Bank Personal Loan
The documents required for the Allahabad Bank Personal Loan is as follows:
- Identity Proof: It can be an Aadhar Card, Passport, Voter Card, Driving License. You may use any one of them as your Identity Proof.
- Residence Proof: It includes an Aadhar Card, Passport, Voter Card, Driving license, Ration Card. With any one of these, you can apply for a personal loan.
- If you are living in a rented house, then, you have to submit your rental agreement, electricity bill and the water bill. Which is suppose to be in your name and on the address of your house owner.
- Two coloured photographs of the applicant are also needed.
- PAN card of the applicant is a must, which is considered to be a vital document under the formality of KYC.
How can you apply for Allahabad Bank Personal Loan?
Through Dialabank, it is a stress-free process, for applying to a personal loan from Allahabad Bank. You can apply online by following these steps:
- Firstly, visit our official site at Dialabank.
- Then fill the online application form for the Personal Loan.
- Fill in your contact number and e-mail address online. It is mandatory.
- You will get a call back within 24 hours from our relationship managers as you fill the form.
Why Dialabank for Allahabad Bank Personal Loan?
- Dialabank is India’s first financial helpline consultancy and has an experience of many years of serving the people by guiding them.
- Interest rates are less as compared to the market.
- Experts of customer query will respond to your questions as soon as possible.
- We don’t charge any amount of money from you for guidance.
- For more information, you may contact 9878981166.
FAQs About Allahabad Bank Personal Loan
Q. What is Allahabad Bank Personal Loan?
A Personal Loan is an unsecured loan that can be used to fulfill any of your personal financial needs. You can use your Allahabad Bank Personal Loan amount to finance any personal expense like a wedding, medical bill, vacation, and etc. The rate of interest in Personal Loan is usually high because of its unsecured nature.
Q. How does Allahabad Bank Personal Loan work?
Personal Loan from Allahabad Bank works like any other loaning product. You have to submit your documents and fill an application form. Upon verification, the loan amount is disbursed to your bank account and can be used to finance all your needs.
Q. What is Personal Loan rate of interest in Allahabad Bank?
Personal Loan rate of interest in Allahabad Bank starts at 12.15% per annum. You can visit Dialabank’s online portal to compare the rates of different banks and finance companies across India.
Q. How can I get Allahabad Bank Personal Loan?
You can get an Allahabad Bank Personal Loan by visiting the branch and talking to your banker about the same. You may also alternatively apply with Dialabank to compare loan products of different banks across India and avail the one that best suits your needs.
Q. How to apply for Personal Loan in Allahabad Bank?
Apply for Personal Loan by visiting the nearest Allahabad Bank branch with all the requisite documents. Alternatively, you can fill an inquiry form at Dialabank’s digital platform to avail of personalized assistance and best offers and deals based on your needs.
Q. Why apply for Allahabad Bank Personal Loan?
Allahabad Bank Personal Loans can be used for any personal purpose and need. You do not have to provide any collateral security in exchange for your loan and the repayment can be done in easily in burden-free monthly installments over a long tenure.
Q. How much EMI on Allahabad Bank Personal Loan?
Your Personal Loan EMI can be calculated using your loan tenure, loan amount, and rate of interest. Use Dialabank’s EMI calculator to calculate your estimated EMI and apply for all your Personal Loan needs with us.
Q. How much CIBIL score required for Allahabad Bank Personal Loan?
A CIBIL score above 750 is preferred by banks to avail a Personal Loan. Being an unsecured loan your CIBIL score plays a big role in determining your loan eligibility as it calculates the risk of default for your lender.
Q. Minimum credit score needed for Allahabad Bank Personal Loan?
A credit score is a measurement and estimate of your creditworthiness. Allahabad Bank requires you to have a credit score of at least 700 to consider your loan application for approval. A low credit score is indicative of irregularities in repayment.
Q. How to calculate Allahabad Bank Personal Loan EMI?
Use your loan amount, loan tenure, and rate of interest to calculate your Allahabad Bank Personal Loan EMI using the EMI calculator available on Dialabank’s website. You may also use the following formula, E = P x R x [((1+R)^N)/((1+R)^N)-1] where E is your EMI, P is your principal loan amount, R is the monthly rate of interest, and N is the loan tenure in months.
Q. What can I use Allahabad Bank Personal Loan for?
You can use Allahabad Bank Personal Loan for a number of financial needs such as funding your marriage or that of a relative, pay all your big and small bills, repay another loan that is eating away on your finances, renovate or repair your home, and etc.
Q. Can I prepay Allahabad Bank Personal Loan?
If you have the required funds you can pre-close your Allahabad Bank Personal Loan by visiting the branch and asking your banker about the prepayment facilities. Any charges as shall be applied will have to be paid by you.
Q. How to prepay Allahabad Bank Personal Loan?
When you have the fund and feel the need to close your loan at once, just visit the branch with your loan documents and apply for a foreclosure. You may be asked to pay a small foreclosure fee in addition to your outstanding loan amount.
Q. How to repay Allahabad Bank Personal Loan?
Repay your Personal Loan in easy burden-free EMIs that are automatically deducted from your bank account each month.
Q. What documents are needed for Allahabad Bank Personal Loan?
Your KYC documents for identity and address verification and bank statement and salary slip as proof of income are needed for a Personal Loan. You can check the required documents in details and also apply online for Personal Loan at Dialabank’s digital platform.
Q. How to check Allahabad Bank Personal Loan status?
Visit your loan branch or contact the customer care number of Allahabad Bank to know the status of your loan application and stay updated.
Table of Contents
- 1 About Allahabad Bank Personal Loan
- 2 Allahabad Bank Personal Loan Features
- 3 Interest Rate of Allahabad Bank Personal Loan
- 4 Allahabad Bank Personal Loan Eligibility Criteria
- 5 The documentation process of Allahabad Bank Personal Loan
- 6 How can you apply for Allahabad Bank Personal Loan?
- 7 Why Dialabank for Allahabad Bank Personal Loan?
- 8 FAQs About Allahabad Bank Personal Loan
- 8.1 Q. What is Allahabad Bank Personal Loan?
- 8.2 Q. How does Allahabad Bank Personal Loan work?
- 8.3 Q. What is Personal Loan rate of interest in Allahabad Bank?
- 8.4 Q. How can I get Allahabad Bank Personal Loan?
- 8.5 Q. How to apply for Personal Loan in Allahabad Bank?
- 8.6 Q. Why apply for Allahabad Bank Personal Loan?
- 8.7 Q. How much EMI on Allahabad Bank Personal Loan?
- 8.8 Q. How much CIBIL score required for Allahabad Bank Personal Loan?
- 8.9 Q. Minimum credit score needed for Allahabad Bank Personal Loan?
- 8.10 Q. How to calculate Allahabad Bank Personal Loan EMI?
- 8.11 Q. What can I use Allahabad Bank Personal Loan for?
- 8.12 Q. Can I prepay Allahabad Bank Personal Loan?
- 8.13 Q. How to prepay Allahabad Bank Personal Loan?
- 8.14 Q. How to repay Allahabad Bank Personal Loan?
- 8.15 Q. What documents are needed for Allahabad Bank Personal Loan?
- 8.16 Q. How to check Allahabad Bank Personal Loan status?