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  • Allahabad Bank Home Loan

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  • Allahabad Bank home loan interest rates start from 8.25% p.a. with a concession of 0.05% for women borrowers the Allahabad Bank lowest home loan interest rate is 8.20% p.a. Maximum tenure of 30 years offered or up to 70 years of age, whichever occurs earlier. Processing fees start from 0.24% of loan amount with bank employees enjoying no charges.

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    Allahabad Bank Home Loan Details

    Apply for a housing loan from Allahabad Bank and enjoy floating-rate loan packages pegged to their Repo Rates or their MCLR. Apply for a home loan of up to Rs.5 crore.

    MCLR 8.35%
    Loan Amount Maximum: Rs.5 crore
    Processing Fees Starting from 0.24% of loan amount
    Penal Interest Rate Contact the bank
    Prepayment/Foreclosure?Charges Nil
    Max Tenure 30 years
    Rate?Packages Available Floating-rate packages

    Allahabad Bank Home Loan Interest Rates

    Find below the interest rates offered by Allahabad Bank on different home loan products. The interest rate you’re offered will depend on your rating as categorized by the bank, and your home loan amount.

    Allahabad Home Loan Schemes Interest Rates
    Housing Loan (AllBank Ashiana) 8.25% to 8.85% p.a.
    AllBank Home Plus 9% to 10.50% p.a.
    Housing & Furnishing Loan 9.55% to 10.25% p.a.

    Compare: Home Loan Interest Rate all Banks

    Allahabad Home Loan Schemes and Offers

    Here are the 3 home loan schemes offered by Allahabad Bank to new and existing home loan borrowers:

    1. Housing Loan (AllBank Ashiana)
      • Can be used for construction, purchase, or renovation purposes.
      • Maximum loan amount of Rs.5 crore.
      • Maximum tenure of 30 years or up to 70 years of age.
      • Moratorium period of up to 24 months.
      • HUFs are not eligible for this loan.
      Interest Rate Processing Fees
      8.25% to 8.85% p.a.
      • Loan amount up to Rs.1 crore – 0.40% of loan amount or Rs.15,000
      • Loan amount above Rs.1 crore – 0.24% of loan amount or Rs.50,000
      • Allahabad Bank employees – No charges
    2. AllBank Home Plus
      • Existing home loan customers of the bank are eligible to apply. Takeover from other banks’ home loans permitted after meeting certain requirements.
      • You must have repaid at least 12 EMIs (equated monthly instalments) on time to avail this loan.
      • Maximum loan amount of Rs.5 lakh.
      • Maximum loan tenure of 10 years or up to 70 years of age, whichever occurs first.
      Interest Rate Processing Fees
      9% to 10.50% p.a. Contact the bank
    3. Housing & Furnishing Loan/ Home for Furnishing
      • Can be used for repairs and/or furnishing existing homes or new homes.
      • Only existing home loan borrowers are eligible to apply.
      • Maximum loan amount of Rs.5 lakh based on take home and other criteria.
      • Maximum repayment tenure of 10 years.
      Interest Rate Processing Fees
      9.55% to 10.25% p.a.
      • 0.53% of loan amount or Rs.223
      • Allahabad Bank employees – No charges

      Important Note: The bank offers an interest rate concession of 0.05% p.a. for women borrowers on most of their home loan products.

    Allahabad Bank Home Loan EMI Calculator

    If you wish to get an estimate of what the EMIs would be like once you get a housing loan from Allahabad Bank, you can use the BankBazaar Home Loan EMI Calculator. All you have to do is enter the home loan amount, the tenure, interest rate, and the processing fee to get your EMI. You will also get the total interest payable and the total repayment on the home.

    This calculator also comes with an option to enter any prepayments you wish to make on your home loan. If you choose to enter details for it, you will also know your total repayable amount with prepayment and without prepayment, the shortened loan tenure, and how much you ultimately save.

    Allahabad Bank Home Loan Eligibility Criteria

    Here are the eligibility criteria to apply for a Home Loan from Allahabad Bank:

    Eligibility Parameters Eligibility Criteria
    Age 21 years to 70 years
    Other criteria HUFs are not eligible to apply

    Allahabad Bank Home Loan FAQs

    1. Does Allahabad Bank offer fixed interest rates on their home loans?

      Currently the bank offers floating-rate packages pegged to the external benchmark rate (Repo rate) and their MCLR (Marginal Cost of funds-based Lending Rate).

    2. Can I apply for a home loan if I am purchasing a 2nd home?

      Yes. You can apply for the AllBank Housing Loan or Ashiana Loan to purchase a 2nd house.

    3. I am an existing home loan borrower and I have applied for the Home & Furnishing Loan. I have not yet received the loan amount. Why?

      This is because the loan amount under the furnishing loan will only be disbursed after your existing home loan amount has been fully disbursed and the margin money has been utilised completely.

    4. Is there a moratorium period available for the Home for Furnishing Loan?

      No. There is no moratorium period applicable on this home loan scheme. However, if you are using your AllBank Housing Loan or Ashiana Loan for repairs and furnishing, you will get a moratorium period of 3 months.

    5. Can I apply for an Allahabad Home Loan online?

      Yes. You can start your application process online.

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    Allahabad Bank Home Loan Reviews

    • Allahabad Bank Home Loan
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      I have a home loan with Allahabad and its ongoing. I have been satisfied with documentation process. It was taken one year ago and have no issues with the home loan. They are providing good care on this home loan even after I got the loan. The loan duration is 30 years.
      Was this review helpful? 3
      , kolkata
      Reviewed on Jun 28, 2019
    • Allahabad Bank
      Allahabad Bank Home Loan
      "Customer friendly with low interest charges & great service"
      0.5 5.0/5 "Blown Away!"
      I have home loan with Allahabad bank, the process was customer friendly. They sanctioned the loan amount within 10 days, the rate of interest is nominal as compared to other banks. I took the loan amount of Rs.25 lakhs for the duration of 15 years.
      Was this review helpful? 5
      , vadodara
      Reviewed on May 25, 2019
    • Allahabad Bank Home Loan
      "Need improvement on the customer support"
      0.5 5.0/5 "Blown Away!"
      I took home loan from ALLAHABAD BANK they gave me lowest interest in the market, it was around 8.7% for the loan amount of Rs.33.5 lakhs for the duration of 25 years., the process was easy but the customer support is not that great they need improvement on that part.
      Was this review helpful? 2
      , noida
      Reviewed on May 17, 2019
    • Allahabad Bank Home Loan
      "GOOD"
      0.5 4.0/5 "Great!"
      I have applied for the home loan with the ALLAHABAD BANK the documentation process was simple, the documents has submitted by self in the branch for the process, I got the loan on time without hassle process. The loan amount was good with nominal rate of interest.
      Was this review helpful? 2
      , bangalore
      Reviewed on Apr 08, 2019
    • Allahabad Bank Home Loan
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan with Allahabad bank and the experience was good, the loan amount was for Rs 42 lacs with nominal interest rate when compared to others. Customer service was good and they responded on time. Tenure period for this loan is 20 years.
      Was this review helpful? 7
      , bangalore
      Reviewed on Nov 21, 2018
    • Allahabad Bank Home Loan
      "Very Good Service"
      0.5 4.0/5 "Great!"
      It has been a very good experience i had with this Home loan, the loan amount also had been good and the interest rate with them has been nominal as well. There has been some processing fee which they had charged and there was no additional charges which they had made. Their customer support also had been good as well where they had been helpful at times.
      Was this review helpful? 7
      , kolkata
      Reviewed on Oct 05, 2018
    • Allahabad Bank Home Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      The overall experience i had with them had been very good, the whole process had been very good. It has taken only two weeks for the loan amount to get sanctioned and it has been very easy during the document submission and through the process it has been very convenient. The rate of interest which they have been provided had been low as compared with the market rate.
      Was this review helpful? 3
      , ahmedabad
      Reviewed on May 25, 2018
    • Allahabad Bank Home Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have taken this loan almost three months back, the rate of interest which they have been providing was good. The service which they have been providing has been excellent, there has been no issues during the process. It has been very easy and smooth process. It took just ten days for me to get this loan.
      Was this review helpful? 2
      , mumbai
      Reviewed on May 22, 2018
    • Allahabad Bank Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken a home loan from Allahabad bank and my experience was good, the loan amount was for Rs 16-17 lakhs with nominal interest rate when compared to other banks. Customer service was good and they collected documents on time. The tenure period for this loan is 23 years.
      Was this review helpful? 2
      , kolkata
      Reviewed on May 18, 2018
    • Allahabad Bank Home Loan
      "Good"
      0.5 2.0/5 "Expected more"
      My home loan was taken with ALLAHABAD bank which was taken 6 years back .The loan amount was 10 lakhs and the interest rate was high before , after pressurizing they have reduced to 8.65% which was disappointing . The customer service and responses was not satisfactory but the loan process was easy and hassle free.
      Was this review helpful? 2
      , chennai
      Reviewed on Dec 01, 2017
    • Allahabad Bank Home Loan
      "Home loan with ALLAHABAD BANK"
      0.5 4.0/5 "Great!"
      I have applied for a home loan application with ALLAHABAD BANK. The provided rate of interest was 8.5 percentage for 10 lakhs. ALLAHABAD BANK provides good service and response and without any delay the provide the loan for the customers.
      Was this review helpful? 4
      , hyderabad
      Reviewed on Sep 30, 2017
    • Allahabad Bank Home Loan
      "GOOD SERVICE"
      0.5 3.0/5 "Satisfactory"
      The loan amount which ALLAHABAD BANK offered me was good. The customer services and representatives where very helpful. They contacted me and informed me the details. I was fine with the interest rate which was 8.5. Overall I can say it was good service.
      Was this review helpful? 4
      , kolkata
      Reviewed on Sep 23, 2017
    • Allahabad Bank Home Loan
      "Excellent interest rate"
      0.5 4.0/5 "Great!"
      I have taken a homeloan from ALLAHABAD bank and its been one and a half years. They gave me the amount what I applied for. I am paying it back with an interest rate 9.5% have to pay it for 117 months, and provided me with the pre closure option....
      Was this review helpful? 2
      , chennai
      Reviewed on Aug 22, 2017
    • Allahabad Bank Home Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      The rate of interest offered by Allahabad for the housing loan is very good. Its very much beneficial for me .I am holding this housing loan from 2010. They were asking for all the necessary documents. There is no issue or hassle with them while submitting the documents The loan amount I have opted for 6.5 laks with ROI is 9.5% with nil processing fee.
      Was this review helpful? 3
      , kolkata
      Reviewed on May 05, 2017
    • Allahabad Bank Home Loan
      "Good home loan process"
      0.5 4.0/5 "Great!"
      Allahabad housing loan process is good, it is a public sector bank the service provided by them is very lengthy . They were in need of too many documents may be because of perfection I guess they were in need of more documents perhaps they ware trying to follow the guidelines set by RBI.
      Was this review helpful? 2
      , new delhi
      Reviewed on Jan 17, 2017
    • Allahabad Bank Home Loan
      "Need to improve in online service"
      0.5 3.0/5 "Satisfactory"
      I have closed the housing loan with Allahabad Bank and the interest rate was floating based. Processing charges were nominal one and the loan amount got disbursed within thirty days of time. The money got disbursed on a single payment. I want them to improve the online services by the way so that it will be really helpful for customers.
      Was this review helpful? 1
      , ghaziabad
      Reviewed on Jun 04, 2016
    • Allahabad Bank Home Loan
      "Very friendly staff and excellent service"
      0.5 5.0/5 "Blown Away!"
      I have a Home loan running with Allahabad Bank which I took recently. The documentation was very minimal and the processing was quite easy as the Branch manager was very helpful and friendly. I was offered an interest rate of 11.25% and the processing fee was waived off which was a nice gesture. The process took only about 12 hours.
      Was this review helpful? 2
      , ranchi
      Reviewed on Apr 07, 2016
    • Allahabad Bank Home Loan
      "Satisfactory..."
      0.5 5.0/5 "Blown Away!"
      ALLAHABAD BANK people were very cooperative. Just because of the interest rate I transferred my Home loan to SBI Bank. They use to provide every thing instantly. I was completed my 3 years loan but I never faced any issues with them. Their loan process and interaction with their customers every thing was good.
      Was this review helpful? 2
      , kolkata
      Reviewed on Feb 24, 2016
    • Allahabad Bank Home Loan
      "too fast...."
      0.5 5.0/5 "Blown Away!"
      In 13 working days the Allahabad bank has sanctioned the home loan and the amount is about 17lakhs. However when I asked for a credit card they did not process. Allahabad bank is certainly very fast in sanctioning the home loan. Customer service, response and their services are more than expected level. Interest rate is good. I visited the bank post 4pm and still they helped me to pay the due.
      Was this review helpful? 4
      , coimbatore
      Reviewed on Jan 04, 2016
    • Allahabad Bank Home Loan
      "Amazing "
      0.5 5.0/5 "Blown Away!"
      I got the home loan with allahabad bank and the experience was very awesome like within a couple of day the loan was disbursed which was the bigger amount . The staffs of the bank are good. Interest rate charged was 9.70% without any processing fee.
      Was this review helpful? 2
      , lucknow
      Reviewed on Dec 09, 2015
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