Allahabad Bank Home Loans | Interest Rates | Information

Allahabad Bank Home Loan ✓ lowest Interest Rates ✓ Low EMI ✓ home loans online from Allahabad bank ✓ Calculate EMI ✓ Calculate Eligibility Instantly at Deal4loans.
Project cost consists of :

  • For construction of residential house on land already owned.
  • For purchase of New / Old / Unfinished house/flat and renovation /extension /repair of the same.
  • For purchase of plot and construction of house thereon
  • For renovation / extension / repair of residential house already owned.

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Prepayments Charges, Documentation Charges, Mortgage Charges & Inspection & Supervision Charges all are NIL

Home Loan Interest Rates of Allahabad Bank Housing Loan -

Loan Tenure

Rate of Interest

Upto Rs. 3 Crore

10.25%

Above Rs. 3 Crores

10.50%

or salaried persons: Up to 60 times of monthly gross salary (Maximum: Rs. 200 Lac)

For others: Up to 4 times of gross annual Income (Maximum: Rs. 200 Lac)

Processing fess of Allahabad Bank home loan:

  • Loan amount up to 30 lac – 0.60% of the loan amount subject to max. Rs.12000/-
  • Loan amount above 30 lac up to 75 lac – 0.45% of the loan amount  subject to max. Rs.24000/-
  • Loan amount above 75 lac up to 300 lac – 0.35% of the loan amount  subject to max. Rs.60000/-
  • Loan amount above 300 lac – 0.25% of the loan amount subject to max. Rs.70000/-

Margin:

  • For loans up to Rs. 20.00 Lacs – 15% of Project cost.
  • For loans above Rs. 20.00 Lacs – 20% of Project cost.

Project cost consists of :

  • Purchase price of land/house/flat.
  • Cost of construction/renovation/extension (if applicable)
  • Stamp duty and registrations charges as applicable.
  • Accrued interest amount of moratorium period, if proposed to be capitalized
  • Premium of Loan Insurance
  • Repayment Period:
    • Salaried Persons : Length of remaining service, Maximum 25 years
    • Others : Remaining period in attaining the age of 70, Maximum 20 years
    • Repayment period will be exclusive of moratorium period.

    Moratorium Period :

    • Maximum 18 months : In case of loan for construction of house where land is already owned or purchased.
    • Maximum 24 months : In case of loan for purchase of Flat under construction.

    Special Features :

    • Repayment option for salaried persons – To extended repayment period up to 5 years after retirement
    • Bullet Payment – To deposit some Lump Sum amount from future cash flows and to amend repayment schedule accordingly
    • Progressive Monthly Installments (PMI) Options – Under this, the initial monthly installments for the first 5 years shall be kept lower i.e. @ 80% of normal EMI, for financial comfort which will be increased gradually/.
    • Take over of housing loans from other finance companies / financial institutions / banks.
    • For acquiring 2nd residential unit.
    • Supplementary Finance for carrying out alterations/ additions/repairs to the house/flat or for finishing
    • Supplementary / Additional finance to individuals who have availed housing loans from their employer on the basis of pari-passu charge / Second Charge
    • Insurance cover to the extent of loan liability for entire repayment.
    • 3rd Party Guarantee not required

Here’s Past Trend of Allahabad Bank 5 Years on Base Rates Changes for Customer or Borrowers Prospective:

Date Change by RBI New Repo Rate Date of Change New Base Rate of Allahabad Bank
Rate Cut Allahabad Bank
4-Mar-15 0.25% - 7.50% 4-Apr-15 10.25%
15-Jan-15 0.25% - 7.75%
28-Jan-14 0.25% + 8.00%
29-Oct-13 0.25% + 7.75% 23-Aug-13 10.00%
20-Sep-13 0.25% + 7.50%
3-May-13 0.25% - 7.25%
19-Mar-13 0.25% - 7.50%
29-Jan-13 0.25% - 7.75% 18-Feb-13 10.20%
17-Apr-12 0.50% - 8.00% 1-May-12 10.50%
25-Oct-11 0.25% + 8.50% 1-Aug-11 10.75%
16-Sep-11 0.25% + 8.25%
26-Jul-11 1.25% + 8.00% 15-Jul-11 10.25%
25-Jan-11 - 6.50% 7-May-11 10.00%

Available Products of Allahabad Bank :-

Source: Allahabad Bank Website

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    Noida, Uttar Pradesh, India - 201301
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