Multiple banks. Different interest rates. Call it a "conflict of interest".
  • loading

    We found 1 Allahabad Bank Personal Loan Eligibility
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    13% Floating
    1.22% (min. ₹1,228) One time fee
    50K - 7.5L
    1-5 Years
    Response Time : Within 30 minutes
    What you'll love
    Think about
    Eligibility Criteria
    Allahabad Bank Personal Loan Eligibility is Rated as "Excellent!" by 6 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service



    Allahabad Bank was founded on April 24, 1865 by a group of Europeans at Allahabad. And became 150 years old in 2014, with a network of 2500 branches. Allahabad Bank offers 3 different personal loans to its customers for all kinds of unexpected or expected expenses like religious gatherings, remodelling of their home and more. The 3 Allahabad Bank Personal Loans available are – Saral Loan, Personal Loan for Pensioners, Loan Scheme for Doctors and Medical Practitioners.

    Allahabad Bank Personal Loan Eligibility

    The eligibility for the Allahabad Bank Personal Loans is bifurcated into the 3 types of Personal Loans:

    Saral Loan: The monthly salary of the applicant should be Rs. 20, 000, and should be a permanent employee with the organisation for 2 years minimum. The organisation must have at least 20 eligible employees.

    Personal Loan for Pensioners:This type of personal loan is for all State Government, Central Government, Teachers, and the Allahabad Bank employees whose monthly pensions are credited in the accounts of their branches.

    Loan scheme for medical practitioners and Doctors: Any Doctor or medical practitioner below the age of 65 years on date of the sanction of the loan is eligible for this loan.

    Factors affecting Allahabad Bank Personal Loan Eligibility.

    There are many factors that can affect your eligibility to get an Allahabad Bank Personal Loan. Generally, banks would give preference to customers who have the capability to repay it. Some of those interesting factors are:

    Type of residence: People living in metro cities are given more preference. If an applicant has their own home in compared to a rented one he gets further preference.

    Age: Young clients are considered risky since the switch jobs easily. Banks hesitate to give them a loan, since there isn’t a stability in income. Income: Your income level measures your repaying capability and also affects the loan amount that can get disbursed to you. Previous loans and EMIs are also taken into account.

    Other loans: When you’ve already applied or have pre-existing loans and EMIs running for credit cards, housing loans, car loans etc. The chances of getting a loan are lower since your capability of repaying is questioned on the multiple EMIs.

    How CIBIL score affects your Allahabad Bank Personal Loan Eligibility?

    • Your CIBIL score is checked when you want to apply for a Allahabad Bank Personal Loan, this check is made so that the bank so the can have the confidence that you will repay the loan taken. Your CIBIL score can range from 300 - 900. Any score above 750 will ensure you get the loan.
    • CIBIL also shows your loan borrowings throughout your lifetime, and the pattern formed shows the number of loans taken and the ratio of secured to unsecured loans as well.
    • Your repayment history of your previous loans and credit cards, wherein Allahabad Bank gets the confidence that they’ll get repaid.
    • Any settlements made with any other banks for loans or credit cards as you’re not able to keep up the installments. CIBIL keeps this in check as well.

    How to increase Allahabad Bank Personal Loan Eligibility?

    • Good credit history - Regular payments and keeping up deadlines helps you get a good credit history and increases your CIBIL score.
    • Mixture of secured and unsecured loans- A mixture of both un secured and secured loans increases credibility and ability to handle the repayments.
    • Prepayment - EMIs paid off via a prepayment option, gives you the options to clear the loan earlier, allowing you a to have a better disposable income to take on a loan. Therefore increasing your chances.
    • Too many credit cards - Many credit cards will increase a risk on your credit favorability, and lowers the chances of getting a loan.

    FAQs on Allahabad Bank Personal Loan Eligibility

    Q. What is the minimum and maximum loan sanctioned by Allahabad Bank?

    A. The amount sanctioned towards personal loan:

    Saral loan: minimum Rs.50, 000 and the maximum amount is Rs.7, 50, 000 lakhs.

    Personal Loan for Pensioners: minimum Rs.25, 000 and the maximum amount is Rs.2, 00, 000 lakhs for pensioners below the age of 65 and upto Rs. 1, 00, 000 for pensioners above the age of 65.

    Loan scheme for medical practitioners and Doctors: amount equivalent to annual income or Rs. 5.00 lacs, whichever is less.

    Q. Are there any additional charges or processing fees?

    A.Yes, there are a processing fee is charged

    Saral loan: 1.20% of loan amount, minimum Rs.1,200/-.

    Personal Loan for Pensioners: No processing fee.

    Loan scheme for medical practitioners and Doctors: 1.20% of loan amount, minimum Rs.600/-

    Q. What is the interest rates charged by Allahabad Bank?

    A. Saral loan: has a Base rate + 4.00%.

    Personal Loan for Pensioners: Base rate + 3.00% (subject to change without prior notice)

    Loan scheme for medical practitioners and Doctors: Base rate + 5.00% (subject to change without prior notice) with monthly rests.

    Personal Loan Reviews

    • Allahabad Bank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      It has been almost six years since i had taken this loan amount, it has been a good experience. The whole process had been very good, it was very easy and the loan got sanctioned in very less days. The customer service had been good and the response from the staff side also had been very nice.
      Was this review helpful? 5
      , ahmedabad
      Reviewed on May 25, 2018
    • Allahabad Bank Personal Loan
      "Faster approval"
      0.5 4.0/5 "Great!"
      My personal loan is on going with Allahabad Bank. The process was very good but the processing fee was more. It was taken 2 years back and the total duration is 4 years. I am happy with the rate of interest. The loan process was faster but the procedure was lengthy.
      Was this review helpful? 4
      , bangalore
      Reviewed on Feb 07, 2018
    • Allahabad Bank Personal Loan
      "got discounts on rate and charges as I am an ex-service man."
      0.5 4.0/5 "Great!"
      Total tenure is for 18 months where three more months is there to complete the personal loan. According to the government rules Allahabad bank did not collect any charge as I am an ex-service man. Absolutely the Allahabad bank is good and the interest rate is very less for us and I got it without submitting any papers.
      Was this review helpful? 1
      , mumbai
      Reviewed on Oct 21, 2015
    • Allahabad Bank Personal Loan
      0.5 5.0/5 "Blown Away!"
      I am working with Allahabad bank so they gave discount on the rate of interest and in charges. I got the personal loan for simple are and also received staff benefit. Partial payment can be done and pre closure is nothing as can close at any time. Rate that I got was 10.50%.
      Was this review helpful? 10
      , mumbai
      Reviewed on Sep 11, 2015
    • Allahabad Bank Personal Loan
      0.5 5.0/5 "Blown Away!"
      My personal loan was disbursed within 2-3 days from the allahabad bank. There was no much documents required as i have the account with them for the past 15 years.Interest rate offered is 14% with the nominal processing fee.The bank is best in the customer service and the response to the customer.
      Was this review helpful? 11
      , kolhapur
      Reviewed on Jun 08, 2015
    • Allahabad Bank Personal Loan
      "Good Service Overall"
      0.5 2.0/5 "Expected more"
      Allahabad Bank Personal Loan main advantage is i have my salary account with them it was quite easy to get the loan. Interest rate was 15.50% it was nominal and charges was also fine. I got loan sanctioned in 7 days, everything is fine i did not find much difficulty it was smooth process.
      Was this review helpful? 12
      , patna
      Reviewed on Sep 23, 2014
    Common Loader Icon

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.