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  • Allahabad Bank Personal Loan for Pensioners Reviews

    • 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? 0
      , mumbai
      Reviewed on Oct 21, 2015
    • Allahabad Bank Personal Loan
      "Excellent.."
      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? 4
      , mumbai
      Reviewed on Sep 11, 2015
    • Allahabad Bank Personal Loan
      "Excellent"
      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? 8
      , 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? 9
      , patna
      Reviewed on Sep 23, 2014
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    Allahabad Bank Personal Loan for Pensioners is Rated as "Great!" by 4 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Personal Loan BYTES FROM OUR KITCHEN

    Allahabad Bank Personal Loan for Pensioners

    Overview about Allahabad Bank Pensioner Loans

    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.

    Features & Benefits of Allahabad Bank Personal Loan for Pensioners

    Quantum of loan:

    • Borrowers can avail a loan amount that is equal to 10 months’ pension, inclusive of relief. However, the following age limit is applicable.
    • Pensioners up to the age of 65 years can avail up to Rs 2.00 Lacs
    • Pensioners above the age of 65 years can avail up to Rs 1.00 Lacs
    • ( Age of the borrower will be considered from the date of loan sanction)
    • The minimum loan amount that one can avail with this scheme is Rs 25000/-
    • Total deductions must not be over 50% of the monthly pension. This includes the present loan instalment.

    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.

    Allahabad Bank Personal Loan for Pensioners Interest rates

    MCLR+3.00%

    Allahabad Bank Personal Loan for Pensioners Eligibility

    To be eligible to apply for the Allahabad Bank Personal Loan for Pensioners, the borrower must fall into any of the following categories:

    • All state Government, teachers’ and Central Government pensioners may apply. Allahabad Bank pensioners who have credited their monthly pensions in the Allahabad Bank accounts are also eligible to apply for this loan.
    • The maximum age of the pensioner to be eligible to apply is 73 years (as on the date of disbursement of loan). Please note that the loan must be repaid in full before the borrower attains 75 years of age.

    Allahabad Bank Personal Loan for Pensioners FAQs

    1. What is the delivery channel?

      All branches.

    2. Will I be charged for processing?

      No. there is no processing fee applicable with this loan.

    3. What are the eligibility criteria for 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:

      1. All state Government, teachers’ and Central Government pensioners may apply. Allahabad Bank pensioners who have credited their monthly pensions in the Allahabad Bank accounts are also eligible to apply for this loan.
      2. The maximum age of the pensioner to be eligible to apply is 73 years (as on the date of disbursement of loan). Please note that the loan must be repaid in full before the borrower attains 75 years of age.
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