A "low interest" loan shouldn't mean you have very little interest in paying it back!
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  • Allahabad Bank Pre-approved Home Loan Reviews

    • 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? 1
      , 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? 1
      , 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? 0
      , 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? 0
      , 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? 0
      , 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? 3
      , 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? 0
      , lucknow
      Reviewed on Dec 09, 2015
    • Allahabad Bank Home Loan
      "No satisfied..."
      0.5 2.0/5 "Expected more"
      It is a government bank and they are good in terms of interest rate. Allahabad bank is not good in customer service and in a paper works. The agents are not good. I was very frustrated at that time of process as every time they asked for new documents. They also asked papers from seller side to process the home loan.
      Was this review helpful? 1
      , ghaziabad
      Reviewed on Oct 20, 2015
    • 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 the month of June. They were asking for all the necessary documents. There is no issue or hassle with them while submitting the documents. Interest rate offered by them was floating rate processing is fine. Its a nationalized bank . I can check the part payment options on line.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 12, 2015
    • Allahabad Bank Home Loan
      "Has to follow CITI Bank"
      0.5 4.0/5 "Great!"
      I am holding this Allahabad housing loan for a period of 3 to 4 years. I am getting my certificate of interest on time. I am getting SMS for the payment on time. I am not happy with their service and it is not as good as CITI Bank. I would suggest Allahabad to follow CITI Bank.
      Was this review helpful? 1
      , kolkata
      Reviewed on Oct 07, 2015
    • Allahabad Bank Home Loan
      "Everything Went Well...."
      0.5 4.5/5 "Excellent!"
      Allahabad bank has given me a home at an interest rate of 9.4%. They did not ask me too much of documents. The very first day they gave me a checklist in which I mentioned about the papers which I had and alternatives were made for the one which I was not having. Within 10 days my loan got approved. Being a nationalized bank they have shown a good response.
      Was this review helpful? 2
      , bangalore
      Reviewed on Sep 25, 2015
    • Allahabad Bank Home Loan
      "Satisfactory"
      0.5 4.0/5 "Great!"
      The services was good when I applied for a home loan in Allahabad bank.The rate of interest was 10.15% which is floating and reasonable. The processing fees was Rs.1800 which was reasonable. The customer support was good. The total tenure of the loan is 20 years.
      Was this review helpful? 5
      , bangalore
      Reviewed on Jan 19, 2015
    • Allahabad Bank Home Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      Surprisingly I got good response from allahabad bank for my home loan. I thought they are not upto the mark. Nowadays I do see the nationalized banks are pretty quick. They offered me the interest rate sufficiently fit it into my budget. Hence I have opted this bank for my home loan. Overall I am very much satisfied with them
      Was this review helpful? 4
      , delhi
      Reviewed on Nov 06, 2014
    • Allahabad Bank Home Loan
      "Outstanding"
      0.5 5.0/5 "Blown Away!"
      Last month I had availed a home loan from Allahabad bank. I handed over the required documents to the bank executive who was handling my case and my loan was disbursed within a week at a rate of interest of 10.25%. The total loan amount was 34 lakhs.
      Was this review helpful? 4
      , chandigarh
      Reviewed on Sep 23, 2014
    • Allahabad Bank Home Loan
      "Valuable for feedback for home loan"
      0.5 1.5/5 "Bad"
      Allahabad bank home loan is ok in the sense like the working environment is not very good its not good sense any type of loan they have to improve the customer support a lot of Nationalized banks are there maintain good reputation they are very slow in process as per the standard its a competitive environment as soon in case of home loan that is my feedback there is a lot of slow documentary work for home loan customer rhas to follow up with the bank so we are less interested to apply
      Was this review helpful? 3
      , kolkata
      Reviewed on Aug 08, 2014
    • Allahabad Bank Home Loan
      "Excellent"
      0.5 4.0/5 "Great!"
      I applied for the housing loan from Allahabad Bank the processing and the documentation is very quick and they processed within the promised time and the rate of interest is less when compared to other banks, the whole process got completed in one month, the overall service is good.
      Was this review helpful? 5
      , lucknow
      Reviewed on May 19, 2014
    • Allahabad Bank Home Loan
      "Good experience with Allahabad Bank"
      0.5 4.0/5 "Great!"
      By first week of this month, my house loan got disbursed from Allahabad Bank. I approached Allahabad bank as the builder had tie-up with this bank and all the processing was quite simple and easier. My loan was also sanctioned within a week. Interest rate and processing charges were bit higher but it was quite OK as I got my loan disbursed within a short time.
      Was this review helpful? 3
      , bangalore
      Reviewed on May 16, 2014
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    APPL (AllBank Pre-approved Limit) for Housing Loan is Rated as "Excellent!" by 17 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Home Loan BYTES FROM OUR KITCHEN

    Overview:

    Allahabad Bank has introduced the APPL (AllBank Pre-approved Limit) for Housing Loan to create a good loan experience. This loan facility can be availed for the purchase of villas, flats or already constructed houses. This is a preferable loan facility as it provides comfort and confidence to borrowers. The APPL allows them the freedom to look for property with a pre-approved limit in advance.

    Features of APPL for Housing Loan:

    The following features or steps highlight the APPL facility:

    • The specific Allahabad Bank branch chosen by the applicant first verifies and issues the letters of the housing loan arrangement, which states the eligible loan amount.
    • Applicant is required to deposit the margin proposed into the branch bank account.
    • A processing fee of 10% is charged by Allahabad Bank towards issuance of bank’s authorization letters.
    • Validity period of APPL is six months, however an extension of another six months can be requested. An extension fee of 10% is charged by the bank. Any additional charges paid to the bank is adjusted with the housing loan’s processing fees.
    • Post approval of APPL, borrower can take up to one year to look for the house or property.
    • After finalization of property, the applicant must submit the property papers to the Bank for verification. The bank checks the papers for legal verifications and sanctions the loan based on the same.
    • Borrowers can avail the facility by visiting any of Allahabad Bank home loan branch or even by applying online.

    Documents Required for Allahabad Bank Pre Approved Home Loan:

    The following documents are required for the issuance of APPL from Allahabad Bank:

    • Income Proof: Salary slip, employment certificate, Income tax returns or Form 16.
    • Identity Proof: PAN card, Passport, Driving License or any other government issued IDs.
    • KYC Documents: ID and Address Proof.

    FAQs:

    1. How much time will I have once I get an approval for APPL from Allahabad Bank?

      You can take up to a year to zero in on your house or property, post approval of APPL.

    2. Will I be charged any fee for the authorization letters from the bank for the issuance of APPL?

      Yes, Allahabad Bank charges 10% of the processing fee for issuing the authorization letters for APPL.

    3. What is the validity of the Allahabad Bank APPL?

      The APPL issued by the bank is valid for up to six months.

    4. Can I extend the validity period of the APPL If I am unable to finalize on the property even within that period?

      Yes, the bank allows another six months extension on the validity period of the APPL. However, 10 % of the processing fee is charged for the same.

    5. What are the documents required to be submitted to the bank while applying for APPL?

      Documents serving as income proof such as salary slip, employment certificate or ITR and Form 16 and KYC documents including ID and address proof needs to be submitted in order to avail APPL.

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