|Loan Name||Interest Rate||Processing Fee||Loan Amount||Tenure|
|House Furnishing Scheme||1YMCLR+1.50% - 1YMCLR+3.00%||0||up to Rs 5,00,000||up to 10 years|
|Housing for Furnishing||BR + 2.00% per annum||0||up to Rs 5,00,000||up to 10 years|
|Home Appliances Finance Scheme||1YMCLR+1.50% - 1YMCLR+3.00%||1% of loan amount||max of up to Rs 2,00,000||36 months|
Q: What interest rate does Allahabad bank provides for personal loan borrowers?
A: Allahabad bank offers an attractive interest rate of 13.00% for personal borrowers.
Q: What are the penalty charges for defaulting a monthly instalment?
A: You have to pay 2% of the loan amount as a penalty fee for missing a payment due date in case of personal loan.
Q: What is the minimum salary requirement to avail a personal loan from Allahabad bank?
A: The minimum monthly income required for Allahabad Bank personal loan is Rs.50,000 per month.
Q: Can I add a co-applicant while applying for a Personal loan with Allahabad Bank?
A: Yes, you can opt for a co-applicant to take a personal loan from Allahabad Bank that will increase your personal loan eligibility as the income of the co-applicant is also taken into account.
Q: How does Allahabad bank personal loan repayment happen?
A: The repayment of a personal loan happens in the form of an EMI (Equated Monthly Installment) through the customer's bank account. The customer is required to present a few post-dated cheques and sign an ECS mandate in favour of the bank at the time of loan disbursal.