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Allahabad Bank Personal Loan: Eligibility, Interest Rate & Apply Online

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Paisabazaar Personal Loan Cashback Offer
Terms and Conditions

What is the Offer?

Paisabazaar Personal Loan Cashback Offer (“Offer”) will allow customers to participate in this offer by applying for Personal Loan on the Website i.e. www.paisabazaar.com or mobile application (“Website”). To Participate in this Offer, customers need to apply/ fill in application for a Personal Loan on the Website between 00:00:00 hours 26th June, 2021 to 23:59:59 hours 31st July, 2021 (“Eligibility Period”). Once the Personal Loan is disbursed and confirmed by the bank, the customer will be eligible for the Offer. This Offer is launched and offered solely at the discretion of Paisabazaar. By your access and participation in the Offer, you agree to be bound by the terms described herein and all the terms incorporated by reference. This Offer shall also be governed by Terms of Use, Privacy Policy as displayed on the Website.

Under this Offer:

- 1 lucky winner will get up to 100% of his Personal Loan amount disbursed as Cash back (Maximum cashback will be INR 5,00,000). For e.g. If your Personal loan amount disbursed within the specified period is 7,00,000/-; you will be eligible for maximum Cashback of INR 5,00,000). If your Personal loan amount disbursed is 3,00,000/- or 5,00,000/- lakh you will be eligible for upto 100% cashback of your Personal Loan amount i.e. 3,00,000/- or 5,00,000/- respectively

- 2 lucky winners will get 1 lakh cashback

- 3 lucky winners get 50,000/- cashback

- 10 lucky winners get 10,000/- cashback

- Others get 1000/- cashback

Offer Eligibility

To receive benefits under this Offer:

1. Customer should have applied for Personal Loan on the Website between 00:00:00 hours 26th June 2021 to 23:59:59 hours 31st July 2021.

2. The Personal loan should be disbursed to the customer on or before 23:59:59 hours 31st August 2021

3. Only for salaried customers

4. Minimum Personal Loan amount should be INR 1,00,000

5. Where the Customer has applied for more than one Personal Loan application during the Eligibility Period, the Customer will be eligible for cashback under this Offer for Personal Loan applied first during the offer period/ Eligibility Period.

6. Customers availing/ availed Personal loan under any Pre-Approved offer or No income document offer on the Website will not be eligible for benefits under the Offer.

2. How does the customer get cashback?

For cashback below INR 10,000

-- The customer shall be eligible for cashback in the form of ‘Cashback’ voucher(s) on successful Personal Loan disbursal. The voucher shall be sent only on the registered mobile number & email entered by the customer while applying for the Personal Loan on the Website

* No other mobile number or email ID shall be considered for sharing voucher details

For Cashback equal to or more than INR 10,000

- The Cashback would be paid through online transfer to the customer’s bank account

- Customers shall share their Pan Card, Cancelled Cheque with Paisabazaar to avail the applicable cashback under this Offer

- 30% TDS would be deductible on the Cashback amount equal to or more than INR 10,000

- Any communication under this Offer will be done by or at 1800 208 8877 or cashback@paisabazaar.com

3. When will customers get cash back?

The cashback would be given to the selected eligible Customers between 1st October 2021 to 31st October 2021 post confirmation received from the disbursal bank.

4. How will the amount for cashback and winners be decided?

1. The Customer who applied for Personal loan through the Website during the Eligibility Period and subsequent disbursal would be eligible for a guaranteed cashback during under the Offer in accordance with the Cashback slabs as mentioned.

2. For cashback amount for more than INR 1,000 and up to INR 5,00,000 the following process would be followed

- All the eligible customers would be a part of a “Luck Draw” to be held on 15th September 2021

- Winners would be decided by randomly selecting the eligible customers by way of Lucky Draw for cashback up to 100% of their loan amount (Upper Limit: INR 5,00,000)

- The lucky draw would happen live through webinar and recorded

PRELIMINARY TERMS & CONDITIONS

1.Minimum loan amount disbursed to be INR 1,00,000/- or above to be eligible for this Offer.

2. This offer (“Offer”) is being run on www.paisabazaar.com including Paisabazaar mobile application (collectively “Website”), which is owned and operated by Paisabazaar Marketing and Consulting Private Limited (“Paisabazaar”, “We” or “Our”).

3. By participating in this Offer, the user (“Customer”, “You” or “Your”) agrees to be bound by these terms and conditions (“T&C”); and shall also be governed by the Terms of Use, Privacy Policy as displayed on the Website. The terms and conditions as may be applicable on gift cards including Electronic Gift Vouchers, and other relevant documentation including any modifications, alterations or updates thereof, that are published on the Website.

4. *Amazon.in is not a sponsor of this Offer. Amazon Pay Gift Cards ("GCs") are issued by QwikCilver Solutions Private Limited (“QwikCilver”). GCs may be used only for the purchase of eligible products/services on Amazon.in or other partner sites. GC balances must be used within 1 year of the date of purchase/activation and any unspent balance shall expire in 1 year from the date of purchase. GCs cannot be transferred for value or redeemed for cash. QwikCilver, Amazon Seller Services Private Limited (“Amazon”) or their affiliates are not responsible if a GC is lost, stolen, destroyed or used without permission. To redeem your GC, visit www.amazon.in/addgiftcard. For complete terms and conditions, see www.amazon.in/giftcardtnc. All Amazon ®, ™ & © are IP of Amazon or its affiliates

5. All applicable terms and conditions of the individual loan disbursing banks/ NBFCs/ Fintechs.

6. To participate in the Offer, You must do/ fulfill the following:

a) The Customer shall be citizen of India and must be 18 years or above holding a valid PAN;
b) Apply for a Personal Loan on the Website and the Loan amount shall be disbursed by the respective bank/NBFC/ Fintech against customer’s application through the Website between 00:00:00 hours 26 th June, 2021 to 23:59:59 hours 31st August, 2021..

7.The participation in the Offer is voluntary and by participating, you are deemed to have read, understood and accepted these terms and conditions

8.These terms and conditions in anyway do not alter the terms and conditions that you may have agreed for availing a service offered by Paisabazaar. In case of a conflict between these terms and Terms of Use as displayed on the Website, the latter shall prevail to the extent of such conflict

9.You acknowledge and confirm that you are aware of the nature of telecommunications/ internet services and that an email transmission may not be received properly and may be read or be known to any unauthorized persons. You agree to assume and bear all the risks involved in respect of such errors and misunderstandings and Paisabazaar shall not be responsible in any manner.

10.By participating in this Offer, it would be deemed that you have given Paisabazaar /Paisabazaar partners your consent to contact You through call, SMS or email on the details provided by You for the purpose of this Offer and other Paisabazaar service offerings.

11.Electronic Gift Vouchers ’EGVs’ are not transferable. All the Terms and conditions for Gift Cards listed on www.amazon.in/giftcardtnc shall be applicable.

12. You are solely responsible for the safety and security of the EGVs. Paisabazaar/Loan disbursing bank/NBFC/Fintech is not responsible for any acts of omission or commission if the EGV is lost, stolen or used without permission.

GENERAL TERMS & CONDITIONS

1.This Offer is exclusive for Paisabazaar customers and is not sponsored by banks/NBFCs/Fintechs.

2.It is understood and agreed that by mere participation to the Offer doesn’t not entitle the participant to claim the benefits/ prizes under this Offer. The participant should be a selected/ declared winner by Paisabazaar in conformity with the terms herein, to claim the benefits/ prizes.

3. The Offer is open to only end consumers and not to resellers.

4. This Offer is applicable on all personal loans available on Website except preapproved and pre- qualified personal loan offers.

5. This offer is not applicable for the employees of Paisabazaar and any of its group companies.

6. The EGV shall not be settled with cash in lieu by Paisabazaar, and is not transferable.

7. Paisabazaar can update, change and modify these terms without prior notice along with any FAQs or guidelines that may have been issued pertaining to the Offer, at any time and in its sole discretion.You shall not hold Paisabazaar, its group entities, or affiliates, their respective directors, officers, employees, agents, vendors, responsible for or liable for, any actions, claims, demands, losses, damages, costs, charges and expenses for a claim to have suffered, sustained or incurred, or claims to suffer, sustain or incur, by way of and/or on account of various offers offered under the Offer.Paisabazaar may suspend or terminate the Offer or your ability to participate in this Offer at any time for any reason. We reserve the right to take strict administrative or legal action, termination of your participation in the Offer, if we notice any activity that we believe is including but not limited to abusive, fraudulent, any attempt to take unfair advantage of the Offer and/or is in violation of the these terms, Terms of Use, and Privacy Policy of the Website. We reserve the right to review and investigate all activities pertaining to your action with respect to Offer and/or modify the Offer in our sole discretion as deemed fair and appropriate to us.In matters relating to the Offer hereto, the decision of Paisabazaar will be final and binding in all respect

8. The Offer and the related EGV are subject to availability.

9. Paisabazaar does not guarantee the disbursal of Personal Loan in any manner whatsoever. The decision of the loan disbursing banks/NBFCs/Fintechs will be final and binding in this regard.

10. The Offer is non-transferable and non assignable.

11. The Offer shall be and is available in accordance with applicable laws and shall not be available wherever it is prohibited under law.

12. Any tax or other liabilities or charges payable to the government or any other statutory authority/body or any participating establishment, which may arise or accrue to the customer due to provision of the Offer, shall be to the sole account of the customer

13. Participants are not bound in any way to participate in this Offer. Any participation is voluntary and the Offer is being made purely on a best effort basis.

14. The Offer shall be subject to force majeure events and on occurrence of such an event, the Offer may be withdrawn at the discretion of Paisabazaar

15. Paisabazaar shall not be responsible for any loss, injury or any other liability arising due to participation by any person in this Offer.

16.You hereby agree to indemnify, defend and keep Paisabazaar harmless against all damages, liabilities, costs, expenses, claims, suits and proceedings (including reasonable attorney’s fee) that may be suffered by Paisabazaar as a consequence of:

(i) violation of terms of this T&C by You;

(ii) violation of applicable laws;

(iii) any action or inaction resulting in wilful misconduct or negligence on Your part.

17. This T&C shall be governed in accordance with the applicable laws in India. Courts in Gurugram (Haryana) shall have the exclusive jurisdiction to settle any dispute that may arise under this T&C. Any query regarding this Offer will be entertained only till October 31st, 2021. Post such date Paisabazaar will not entertain any correspondence or communication regarding this Offer from any persons.

18. By participating in this Offer, you are deemed to have read, understood and accepted these Terms and Conditions.

19.If any provision of these terms is found to be invalid or unenforceable by a court of competent jurisdiction, such provision shall be severed from the remainder of these terms, which will otherwise remain in full force and effect.

20.This document is an electronic record in terms of Information Technology Act, 2000 and the Rules there under as applicable and the amended provisions pertaining to electronic records in various statutes as amended by the Information Technology Act, 2000. This electronic record is generated by a computer system and does not require any physical or digital signatures

Updated: 28-04-2021 06:57:23 AM

Please Note: Allahabad Bank is not a Paisabazaar partner. Offers would be from partner Banks/NBFCs only.

Note: As of 1st April, 2020, Allahabad Bank has been merged with Indian Bank and no longer operates as a separate entity. Please check the Indian Bank personal loan page for updated information.

 

Allahabad Bank offers customized personal loan schemes to different segments of the society. These schemes help an individual to fulfil both personal as well as business needs without any inconvenience. The loan amount, tenure and interest rate offered under these schemes varies from individual to individual. The process to apply for these Allahabad Bank personal loan schemes is easy and offers quick disbursal of loan amount.

 

Features of Allahabad Bank Personal Loan

  • Loan amount: Starting from Rs. 15,000, the loan amount offered by Allahabad Bank under various schemes varies from individual to individual
  • Multiple schemes: Personal loan schemes like AllBank Vidya, Home Appliances Finance Scheme, New Saral Loan, All Bank Rent Loan, etc. are offered by Allahabad Bank to target specific needs of different individuals
  • Online application: You can complete and submit your Allahabad Bank Personal Loan application online quickly and without any hassle
  • Minimum documentation: Allahabad Bank asks you to submit only a few documents so that your loan application processes quickly and the amount gets disbursed instantly

Best Personal Loan Offers

Allahabad Bank Personal Loan Interest Rates

Product TypeInterest Rates (p.a.)
Allahabad Bank New Saral LoanStarts from 12.15%
Overdraft Facility in SB Acc11.55%
Loan Scheme for AllBank Doctor PlusStarts from 10.65%
Loan Against NSC/KVPAs offered by the bank
AllBank SuvidhaAs offered by the bank

Types of Allahabad Bank Personal Loan

1. Allahabad Bank New Saral Loan

If you are a salaried employee having a salary account in Allahabad Bank, you can avail Allahabad Bank New Saral Loan for purchasing a consumer durable item, two wheeler or other tangible items that can be validly hypothecated to the Bank. Also, the loan can be availed to meet social, domestic, religious and other expenses. The loan can be availed for up to Rs. 7.50 lakh and repaid maximum by 60 months (has to be fully repaid 1 year before the retirement).

Quantum of Loan

For employees having salary of Rs. 15,000 and above and upto Rs.20,000 per month and minimum loan limit of Rs.50,00012 times of present gross monthly salary
For employees having salary of Rs.20,000 and above and minimum loan limit of Rs.50,00024 times of present gross monthly salary, subject to maximum loan limit of Rs.7.50 Lakh

2. Overdraft Facility in SB Acc

The loan is offered to an individual to meet emergency expenses. A maximum loan amount of either Rs. 40,000 or one month’s net salary (whichever is less) can be availed and can be repaid within 1 year.

3. Loan Against NSC/KVP

The loan is offered to meet personal as well as business needs but not for speculative purpose. The loan amount starts from Rs. 10,000 subject to the following mentioned margin according to the age of NSC/KVP along with no upper limit.

Age of NSC/KVPLoan amountMargin
More than 3 years100% of face valueNIL
More than 2 years but less than 3 years90% of face value10%
Less than 2 years75% of face value25%

4. Loan Scheme For AllBank Doctor Plus

The loan is offered to doctors to meet their personal expenses like medical expenses, purchase of household items, setting up of clinic, purchase of medical equipment, etc. The loan amount of AllBank Doctor Plus goes upto Rs. 20 lakh. The loan can be repaid maximum by 84 months.

5. AllBank Suvidha

This type of loan is offered to existing account holders including the Bank’s employees (Existing,VRS/Retired employee) to meet personal as well as business needs without any inconvenience. The minimum loan amount offered is Rs. 10,000 and the maximum loan amount offered depends on an individual’s profile.

Eligibility Criteria

1. Allahabad Bank New Saral Loan

  • You should be an employee of the organization whose salaries are being disbursed through Allahabad Bank
  • Your minimum monthly income should be Rs. 15,000
  • You should have completed at least 2 years in your current organization
  • You should be at least 21 years old
  • You will either have to provide guarantee from spouse or parents (in case you are unmarried)

2. Overdraft Facility in SB Acc

All employees of Allahabad’s Bank’s Corporate Clients, whose salaries are disbursed through Saving Bank accounts in Bank.

3. Loan Against NSC/KVP

You must have National Savings Certificate / Kisan Vikas Patra in own name

4. Loan Scheme for AllBank Doctor Plus

  • You must be at least 21 years old and your maximum age should be 65 years
  • You should be a registered doctor and medical practitioner in any stream (Medicine, Homeopathy, Ayurvedic, Veterinary etc.)
  • You should be working in India
  • Your minimum credit score should be at least 700

5. AllBank Suvidha

  • You should be at least 18 years old
  • You should either be an existing individual account holder or bank’s employee (Existing, VRS/Retired employee)

Documents Required for Loan Application

The documents to apply for Allahabad Bank Personal Loan will vary as per the scheme you select. However, the basic documents that would be required are as follows:

1. Photo identity proof (any one document): Passport, Pan Card, Voter Identity Card, Driving License, Aadhaar Card

2. Address proof (any one document): Ration Card, Bank Account Statement, Passport, Driving License, Electricity Bill, Telephone Bill, Sale Deed/Property purchase agreement (for owned properties), Aadhaar Card

3. Salary proof: Last 3 months/6 months’ bank statement (dependent on scheme) showing salary credits, Latest Salary Slip

How to Apply for Allahabad Bank Personal Loan with Paisabazaar?

How to Apply for Allahabad Bank Personal Loan with Paisabazaar?

  • Fill a form asking your personal details like occupation, monthly income, required loan amount, current city, company details and phone number and click on ‘proceed’
  • You will get personal loan offers from various lenders as per the chances of approval
  • You can select an offer as per the chances of approval and click on ‘apply’
  • Your personal loan application will be sent to the chosen lender and the customer care team will call you for further assistance

Personal Loan Banner 2

Personal Loan Verification Process

  • After the lender receives your personal loan application from Paisabazaar, you get a call from lender’s representative
  • The representative verified your details and schedules document pickup
  • After your documents are approved, you get another call from the bank information you about the final loan agreement
  • Once you agree on the terms and conditions offered by the bank, loan disbursal is initiated

Check Allahabad Bank Personal Loan Application Status

  • Open Allahabad Bank page online
  • Enter your User ID and Password
  • Enter Captcha
  • Click on ‘Login’

Check Allahabad Bank Personal Loan Application Status

Fees and other Charges

1. Allahabad Bank New Saral Loan

Prepayment Penalty2.25% of Outstanding Balance only in case of takeover

2. Loan Scheme for AllBank Doctor Plus

Processing Fee1.06% of loan amount minimum of Rs.534 + Taxes and Maximum Rs.10,000

3. AllBank Suvidha

Processing FeeNIL

How to Login on Allahabad Bank Portal?

  • Open Allahabad Bank website
  • Enter your User ID and Password
  • Enter Captcha
  • Click on ‘Login’

Allahabad Bank Personal Loan Statement

  • Open Allahabad Bank statement page
  • Enter your User ID and Password
  • Enter Captcha
  • Click on ‘Login’

EMI Calculation

The following personal loan EMI calculation is an illustration of how the monthly EMI of a Allahabad PL changes based on loan tenure, loan principal and interest rate.

Loan principal @ interest

Tenure

1 year2 years3 years4 years5 years
1 lakh @ 10.65%Rs. 8,821Rs. 4,644Rs. 3,257Rs. 2,567Rs. 2,156
5 lakh @ 11.25 %Rs. 26,514Rs. 13,982Rs. 9,821Rs. 7,753Rs. 6,522
6 lakh @ 11.5%Rs. 53,169Rs. 28,104Rs. 19,785Rs. 15,653Rs. 13,195
9 lakh @ 11.87%Rs. 79,911Rs. 42,313Rs. 29,839Rs. 23,645Rs. 19,963

Comparison of Allahabad Bank PL VS Other Lenders

ParticularsAllahabad BankHDFC BankCiti BankAxis BankICICI BankBajaj Finserv
Interest RateStarting from 10.65%11.25% to 21.50%Starting from 10.99%11.49% to 17.49%11.50% to 19.25%Starting from 12.99%
TenureUpto 84 months12 to 60 months12 to 60 months12 to 60 months12 to 60 months12 to 60 months
Loan amountStarts from Rs. 15,000Upto Rs. 40 lakhUpto Rs. 30 lakhRs. 50,000 to Rs. 15 lakhUpto Rs. 20 lakhUpto Rs. 25 lakh
Processing Fee1.06% of loan amount minimum of Rs.534 + Taxes and Maximum Rs.10,000Upto 2.50% of the loan amountUpto 3% of the loan amount2% of loan amount plus GSTUpto 2.25% of loan amount plus GSTUp to 3.99% of the loan amount

Allahabad Bank Customer Care

  • You can call on 1800-5722-000
  • You can send a mail on cgrc@allahabadbank.in
  • You can write a letter to Allahabad Bank, Head Office, 2 Netaji Subhash Road , Kolkata -700001

Also Read: Allahabad bank Personal Loan Customer care

Benefits of Applying for Personal Loan at Paisabazaar

  • Convenient: You can easily apply for a personal loan at Paisabazaar from the comfort of your home or office. The online process involves filling only a few forms to initiate the loan application and can be completed within minutes
  • Quick processing: When you finish filling the necessary forms, Paisabazaar instantly processes your personal loan application by sending it to the chosen bank
  • Compare and choose: Paisabazaar is an online platform that allows you to compare interest rates offered by various lenders. This way, you get to choose the bank offering the lowest interest rate to make your EMIs affordable
  • End- to- end assistance: At Paisabazaar, you get an end-to-end assistance from the customer care team so that your application process is convenient

Personal Loan Banner 3

Important Aspects 

  • Check your credit score: A good credit score comes with a lot of benefits including getting a personal loan at a lower interest rate. Therefore, it is important to pay all your credit card bills and loans on time to have a decent credit score
  • Evaluate your ability to repay: The quickest and the most convenient way to check your ability to repay a personal loan is by using Paisabazaar’s Personal Loan EMI Calculator. With the help of the calculator, you can try different combinations of loan amount, tenure and interest rate and then choose a desired combination as per your repayment ability
  • Know all fees and charges: Interest rates, processing fee, late payment charge, foreclosure charge, etc. are some fees and charges that are associated with a personal loan. Therefore, it is important to know all the fees and charges to have an estimate of the total sum that you would be repaying
  • Compare interest rate: When you compare interest rates offered by various lenders on financial platforms like Paisabazaar, you get to select a personal loan with lower interest rate that makes your EMIs affordable

FAQs

Q1. How can I apply for Allahabad Bank personal loan offline?

You can either call customer care or can visit the nearest branch.

Q2. What should be the minimum credit score if you wish to apply for Loan Scheme for AllBank Doctor Plus?

Your minimum credit score to avail Loan Scheme for AllBank Doctor Plus should be 700.

Q3. How can I submit a complaint at Allahabad Bank?

You can submit a complaint at Allahabad Bank online and submit it by filling the required details.

Allahabad Bank Personal Loan
(4.6/5 ) 744 Reviews
Write a review
Jun 29, 2019
5/5
right information

Its not about just selling a product. Its about giving the right experience by Allahabad bank regarding the personal loans.

Jun 29, 2019
5/5
updated with useful info

Apply and you will see the Allahabad Bank representatives making sure you are kept updated.

Jun 29, 2019
5/5
accurate information regarding loans

Paisabazaar webiste is very accurate, when it comes to the rates and the offers that are ongoing.

Jun 28, 2019
5/5
cares every customer

Inspite of the fact that they were busy they still cared and ensured that i was taken care of at Allahabad bank.

Jun 28, 2019
5/5
updated with useful info

Apply and you will see the Allahabad Bank representatives making sure you are kept updated.

Jun 28, 2019
5/5
Homely staff

Scared and apprehensive and i was put to ease by the homely staff of Allahabad Bank bank.

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