Allahabad Bank

Allahabad Bank

Overview

Allahabad Bank offers Allbank Dream Car loan to purchase new/old vehicle for personal/official use at attractive rate of interest.

Loan Feature

Loan Amount For salaried: Up to 36 months of gross monthly salary Others: Maximum three times of Average Net Annual Income for the last two years
Interest Rate 10.7% per annum
Tenure 7 years for new vehicle and 5 years for old
Pre Payment Charges 2.25% of Outstanding Balance only in case of takeover
Service Charges

Processing Fee :

1.2% of Loan amount, Minimum Rs.600

Eligibility Criteria : Car Loan

  Salaried Self
Age The loan should be repaid at least three months before the date of retirement from service Repaid before attaining the age of 70 years
Income Minimum gross monthly income Rs.25000/- An IT assesee With full collateral security, IT assessment order/IT return may be waived
Job Experience Information not available Information not available
Residence Proof Information not available Information not available

Docs Required : Car Loan

  Salaried Self
ID Proof Copy of passport/Voters ID card/PAN card/Driving license Copy of passport/Voters ID card/PAN card/Driving license
Address Proof Passport/Voters ID/Driving License/Latest Electricity bill/Latest Landline Telephone Bill/Any other Valid Address proof Passport/Voters ID/Driving License/Latest Electricity bill/Latest Landline Telephone Bill/Any other Valid Address proof
DOB Proof Information not available Information not available
Financial Docs
Signature identification from bankers of borrower(s)
Latest Salary Slip
Bank Statement for last 6 months
I.T. Returns/Form 16 for last 2 years

Signature identification from bankers of borrower(s)

Latest Salary Slip

Bank Statement for last 6 months

I.T. Returns/Form 16 for last 2 years

Bank Statements(latest 6 months bank statement /passbook)

Latest ITR along with computation of income, B/S & P&L a/c for the last 2 yrs. certified by a CA

Other Charges : Car Loan

N/A

Products offered by Allahabad Bank

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