Customers apply for the Allahabad bank home loan to buy their dream homes at the lowest interest rates for a tenure of up to 30 years.
Several rewards and benefits are offered by the bank that makes it one of the most feasible home loans available in the country at the moment.
There are several schemes and offers that are offered to the customers by the Allahabad bank when it comes to home loans. You can compare and analyze these schemes before applying for one that suits your demands the best.
In order to understand which loan suits you the best, make sure you use the Allahabad bank home loan online EMI calculator. You don't have to visit the bank.
You can visit the bank's official page in order to calculate your EMI beforehand. It will help you make informed financial decisions in the future and make a solid strategy to manage your expenses during your repayment tenure.
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There are other leading banks in India that offer home loans as well. However, Allahabad bank is known for offering the best possible home loan schemes and offers with the lowest interest rates. The tenure that is offered to the customers can go up to 30 years. You can compare and analyse different schemes before going for a home loan that will suit your demands the best.
The Allahabad Bank home loan interest rate remains around 8.25% for salaried and self-employed individuals.
Go through the chart for the details of the Allahabad Bank home loan schemes.
21 years - 60 years for salaried people;
21 years - 65 years for self-employed individuals
|Interest Rate||8.25% (average)|
|Processing Fee||Up to 0.40%|
|Penal Interest Rates||Contact the bank|
|Maximum Tenure||30 years|
|Interest Rate Linked to||RLLR|
|Lowest EMI per lakh||852|
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The Allahabad bank offers a plethora of benefits when it comes to home loans. The major features and benefits of the Allahabad Bank home loan include:
These are the major benefits that make the Allahabad bank home loan unique and one of the most feasible options in the country.
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When it comes to the Allahabad home loan, a variety of loan schemes are offered to customers by the bank. You can compare and analyse different schemes in order to figure out which one is the ideal scheme for you.
The Allahabad bank housing loan interest rate differs from one scheme to the other. Go through the chart to figure out which scheme would be the ideal one for you.
|Interest Rate||Home Loan Schemes|
|9.55%-10.25%||Furnishing and Housing Loans|
|9%-10.50%||AllBank Home Plus|
|8.25%-8.85%||Housing Loan (AllBank Ashiana)|
The interest rate varies from one scheme to the other based on several factors. Make sure you do your research before applying for one loan so that you can make informed financial decisions in the future during your repayment tenure.
Also Read - Allahabad Bank Home Loan EMI Calculator
The major 4 Allahabad bank home loan schemes are listed below:
2. Housing & Furnishing Loans
3. AllBank Home Plus
4. All Bank Housing Loans for NRIs and PIOs
Also Read - Types of Home Loans Offered by SBI
Before you apply for the Allahabad bank home loan, make sure you go through all the necessary documents that you will need to provide to the bank.
The list of the essential documents required to apply for the home loan schemes is mentioned below:
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When it comes to the processing fees and charges of the Allahabad home loan schemes, a variety of charges are applied to customers based on their background and other details.
In order to contact Allahabad Customer Care, dial their toll-free number- 1800 572 2000.
You can also reach out to their call centre number- 2242091522420869, or 2210377722420900.
You can also send an email stating all your queries to firstname.lastname@example.org
Also Check - SBI Home Loan Customer Care
In order to apply for the Allahabad bank home loan and money mantra, a few simple steps need to be followed.
Tip - Check Cibil Score before applying for a home loan.
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Allahabad Bank does not have a particular rule regarding the monthly income of the applicants for the home loans. However, if you have a monthly income of at least 25,000 or above, it will be easier for you to get home loans easily.
You can take a home loan of up to 40 lakh with a monthly income of 35,000.
With a monthly salary of Rs.50,000, you can get a home loan of up to 57,00,00 from the Allahabad bank.
Yes, you can easily transfer your loan from another bank to the Allahabad bank in the middle of your tenure. Salaried employees and women get a concession of up to 0.5% for bank transfer loans. If you want to repeat the entire amount during the tenure, no prepayment charges will be applied by Allahabad Bank.
Allahabad bank checks your credit score to determine whether or not you are eligible to apply for a home loan. CIBIL score is one of the essential factors influencing your application when applying for an Allahabad bank home loan.
A minimum CIBIL score of 650 is required to apply for a home loan. A low CIBIL score reduces your chances of getting a home loan from the Allahabad Bank.
Allahabad bank allows you to repay the loan through an electronic clearing system. They also offer the option of issuing post-dated cheques from the salary accounts.
Make sure you maintain a good credit score of 700 and above to increase your chances of getting home loans easily.
Choose a longer tenure. The EMI will be lower, which will increase your home loan eligibility. You can also add a co-applicant who has a good credit score to increase your home loan eligibility.
Make sure you pay all your monthly bills, debts, EMIs, and other bills on time to maintain a good credit score.
The Allahabad bank is one of the most reputed banks in India that offers the lowest interest rates to customers. Other financial benefits and awards are also offered to customers based on their background. You can choose a tenure of up to 30 years and repay your loan at your own pace. Women get a concession of 0.05% for home loans.