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Allahabad Bank Personal Loan for Pensioners is the ideal solution for pensioners looking to fund an immediate financial expense. Everything from medical bills to wedding expenses can be easily met by availing an Allahabad Bank Personal Loan for Pensioners. What’s more, the interest rate that Allahabad Bank offers pensioners’ personal loan is extremely competitive.
Note: Effective 1 April 2020, Allahabad Bank has merged with Indian Bank.
Quantum of loan:
Margin: Nil
Repayment Period: Maximum 48 months.
Security:In case of death of pensioner, as security, the family of the pensioner must provide personal guarantee and undertaking to repay the loan.
Insurance:Irrespective of loan amount, you will be covered with an insurance policy ‘Group Personal Accident Insurance Policy’ which is worth Rs.200,000/-. For those under Personal Loan Scheme for Pensioners, this policy covers accidental death.
MCLR+3.00%
To be eligible to apply for the Allahabad Bank Personal Loan for Pensioners, the borrower must fall into any of the following categories:
All branches.
No. there is no processing fee applicable with this loan.
To be eligible to apply for the Allahabad Bank Personal Loan for Pensioners, the borrower must fall into any of the following categories:
A GST rate of 18% will be applicable on banking services and products from 01 July, 2017.
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Psst... We'll ensure you're the very first to know the moment rates change.
We'll email you immediately! You snooze, you lose.