Allahabad Bank Home Loan

Allahabad Bank Home loan can be taken to fund your dream house purchase. A home loan is a secured loan, where the house you intend to purchase is considered as collateral. The Allahabad Bank offers loans to borrowers under the Allahabad Housing Finance Scheme for furnishing purposes in new or existing residential flats and houses. The amount of loan entirely depends on the applicant’s net take away monthly salary.

 At Loanbaba.com , you will come across information about all types of Allahabad Bank Home Loans in India.

Why Choose Allahabad Bank Home Loan?

• The advantage of this loan is its same interest throughout the duration, if fixed, but flexible on floating rate of interest.
• Simple documentation is needed and the home loan in Allahabad bank then gets processed faster.
• You can check out Allahabad bank home loan eligibility and Allahabad bank Home Loan EMI calculator at Loanbaba.com.

Features of Home Loans at Allahabad Bank

Some of the Allahabad bank home loan features are as follows.

• One can avail a maximum amount of Rs 5 crores under the scheme.
• The existing borrowers under the housing loan can avail loans under the Housing Finance Scheme for Furnishing once the former loan is fully disbursed and the margin money is utilised.
• A supplemental mortgage on the property or an equivalent mortgage as security needs to be submitted to avail furnishing loan at Allahabad bank.

Why Apply for a Home Loan on Loanbaba?

At Loanbaba, you can compare and apply for Home loans online. You can check out several housing loans and go through their features such as quantum of loan, amount of loan, processing fees, interest rates, and other conditions, on a single platform. The loan application process is simple and easy, as you can upload all the required documents online. Disbursal is done at the soonest, and you can keep a track of your loan application on the website.

Allahabad Bank Home Loan Interest Rates

The Allahabad bank home loan interest rate starts at 8.30% to 9.25%, but varies as per individual profile. Keep a check on this page to note the updated Allahabad bank home loan interest rates for the current year. The base rate presently prevails at 9.5%. However, do connect with your nearest branch to stay updated with the latest rate. The interest is applicable as Base Rate + 2% or MCLR + 2%.

Allahabad Bank Home Loan Eligibility criteria

Home loan eligibility may differ from one candidate to another. You can also use free-of-cost Allahabad Bank home loan eligibility calculator at Loanbaba.com. The eligibility criteria for Allahabad bank housing loan are discussed below:

• The applicant for home loan in Allahabad bank needs to meet the age requirement and possess all necessary identity and income proof required to apply for the loan.
• He/she meet the requirement for credit score and should not be under too many debts.

Types of Allahabad Bank Home Loans

Allahabad Bank has home loan schemes for professionals and salaried individuals. The amount taken as loan can be used for either multiple or specific purposes.