Allahabad Bank Indore

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About Allahabad Bank

Are you looking for any sort of financial help? If yes, don’t look any further as Allahabad Bank with its diverse range of financial products in Indore is here. Yes, this public sector bank with its best of products and customer-friendly services ensures to fulfill the multiple needs of all. This is the reason that it has a strong customer base and people believe the lender for what it offers to one and all. Furthermore, one of the interesting facts about this bank is the fact that since its inception in the year 1865, there is no looking back for the bank.

With offering an wide range of products and services such as loans, investments, insurances, cards and so on, the only endeavor of this lender is to cater the multiple financial needs of all its esteemed customers in the least time frame. Apart from this, with more than 3,071 branches and headquarters in Kolkata, it would not be wrong to say that this public sector bank has become the most preferred choice of many borrowers in the beautiful Indore city. To know more about Allahabad Bank and its diverse product range, you just need to go to the page below.

Allahabad Bank Indore Branches

Branch Name AddressIFSC Code MICRCustomer Care
Indore MainIndore Main Branch, 20/1 A New Palasia Indore, M.P. Ph:0731 - 2545253, 0731 - 2548595ALLA02102014520100020731-2545253/ 2545252
Vijay NagarPlot No. 31, Scheme No.54, Vijay Nagar, Opp.Sayaji Hotel, Indore 452010 Phone No. 0731 - 2553655ALLA02119664520100050731-2553655
AjnodAjnod, Vill. & P.O. Ajnod Block - Sanver Dist. Indore Madhya Pradesh, Pin: 453551ALLA021109745301000207321-268720
KanadiaKanadia, Vill. & P.O. Kanadia Dist. - Indore Madhya Pradesh, Pin: 452018ALLA02109824520100070731-2842225
KhudelKhudel, Vill. & P.O. Khudel Dist. - Indore Madhya Pradesh, Pin: 453576ALLA02104764520100060731-2865224
Lasudia MoriLasudia Mori, M.G.C. Compound, Lasudia Mori (Dewas Naka) Dist. - Indore Madhya Pradesh, Pin: 452008ALLA02109834520100040731-2802447
PaldaPalda, Ossan Bagh, Vill. & P.O. Palda Dist. - Indore Madhya Pradesh, Pin: 452001ALLA02109864520100030731-2862415
Semalia ChauSemalia Chau, Vill. & P.O. Semalia Chau Dist. - Indore Madhya Pradesh, Pin: 452016ALLA02113324520100080731-2843222
INDORE BHAWAR KUAN17, Professor Colony, Wadhwani Chamber Bhanwarkuan Road, Indore, 452001,ALLA02125024520100060731-2366401
MehatwaraSel Factory Indore Bhopal Highway, Village Mehatwara, Tehsil-Jawar, District -Sehore, Madhya PradeshALLA02126004660105017560259080
Bangali Chouraha388, Goyal Nagar , Bengali Chouraha Road IndoreALLA02130479425080646
Airport Road Indore6 Anjani Nagar, Airport Road, Indore 452005ALLA02131284520100099977304200
Annapurna Nagar, Indore5, Vishal Nagar, Annapurna Mandir Road, Indore- 452009ALLA02132974520100109827766490

Products Offered by Allahabad Bank in Indore

With multiple and unique financial products in its kitty, there is no denying the fact that Allahabad Bank is here to offer you the best banking experience. By offering a diverse product range such as car loan, personal loan, home loan, education loan and property loan, this lender caters the needs of all. However, to know about the eligibility of these products, you need to read the page below.

Basic Details of Allahabad Bank Loans

ProductEligibilityInterest Rate
(in p.a.)
Loan AmountTenureProcessing Fee
Home Loan The minimum age of the applicant at the time of availing the loan should be 21 years.
The maximum age of the applicant at the time of loan maturity should be 70 years.
An individual must have a regular source of income to liquidate the loans.
The housing loan to HUF will not be considered.
The employees who have availed housing loan from their own organizations may also avail housing loan from the bank.
8.75% - 9.25 %Up to ₹500 Lakh(depends on combined income)30 Years0.40% of the loan amount, maximum ₹17,250
Personal Loan Pensioners:
Age of the pensioner should not exceed 73 years (Seventy three years) as on the date of disbursement of loan and loan should be fully repaid before attaining the age of 75.
Doctors:
Individual Doctors & Medical Practitioners. Maximum age: 65 years on date of sanction of loan.

12.10% - 13.60%

₹25,000-Amount equivalent to annual income or ₹ 5.00 lacs, whichever is less48-60 MonthsNil-1.22% of loan Minimum ₹614
Car Loan Salaried Person :Minimum gross monthly income of ₹ 25,000/-

Agriculturist : Minimum 5 acres of irrigated land holding

Professional & Self-Employed / Businessmen : An IT assessee. With full collateral security, IT assessment order / IT return may be waived.

Retired individuals : Drawing monthly pension of ₹ 15,000/= and above.
Firm/ Companies: Net profit is sufficient to meet repayment of Car Loan

9.10%

Maximum of 3 times of Net Annual Income / Net Annual Salary.

Income of spouse / father/ mother/ son/ unmarried daughter can also be clubbed, provided he/she/they become the co-borrower
For New Vehicle :
Individuals: Maximum 84 Months

For Firm/ Companies: Maximum 60 Months

For Pre-owned Vehicle : Maximum 60 months / Residual life of the vehicle, whichever is lower
0.50% of loan Maximum ₹5,750 (Allahabad Bank Employees- NIL)
Property LoanMinimum 21 years & maximum 70 years at the time of sanction of loan.
In case of Firms/ Companies/ Society/ Trust, it should be minimum five years old.

Individual: Income should be minimum ₹1.20 Lacs per annum.
Joint Borrower: While computing quantum of loan in case of joint borrowers, income of all borrowers will be clubbed.
In case of firm/ Company, Net Cash generation (after adding back depreciation) is considered as income for calculation of loan amount and considering repayment capacity.

However, the income will be taken as per audited balance sheet/ IT return of last financial year.
In case of firm, personal income of proprietor/ partners and in case of company personal income of Directors may be clubbed with the income of firm /Company if the source of income is different.
14.1%₹5.00 Lakh-200.00 Lakh108 Months Above ₹150 Lac: 0.31%, Min ₹92115
Education Loan Studies in India (Indicative list):
Approved courses recognized by UGC/ Govt. / AICTE/ AIBMS/ ICMR etc.
Studies abroad:
For job oriented professional/ technical courses offered by reputed universities.
8.95%-10.6% Study in India:
Up to ₹20 Lakh depending on the Institute.
Study abroad: ₹50 Lakh
Upto 15 Years For studies in India
For loan amount above ₹10.00 Lakh -- 0.15%, maximum of ₹3,000/-
For studies abroad
For loan amount above ₹20.00 Lac -- 0.10%, maximum of ₹5,000/-

Documents Required

ProductDocuments
Home Loan Duly Signed Application Form with Photograph
ID Proof
Residence Proof
Processing Fee Cheque
Latest Bank Statements
Property Related Documents-Allotment Copy, Property Agreement Copy, Registration Copy,etc.
Salaried Applicants:
Salary Slips of Last 3-4 Months and Form 16 of Last 2 Years
Last 3 Years ITR with Computation of Income
Last 3 Years CA Certificate/Audited Balance Sheet and Profit and Loss Account
Self-employed Applicants:
ITR of Last 2-3 Years
Profit and Loss Account and Audited Balance Sheet of Last 2-3 Years
Personal Loan Salaried:
Photo ID and age proof
Signed application form with photograph
Residence proof
Last 6 months bank statement
Last 3 months salary – slips
Form 16 or Income Tax Returns

Self-employed:
Photo ID and age proof
Signed application form with photograph
Residence proof
Last 6 months bank statement
Last 3 years Income Tax Returns with computation of Income
Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account
Car Loan Duly signed application form
Photographs
ID Proof
Age Proof
Income Proof
Residence Proof
RC Copy
Used Car-Valuation Copy
Business establishment proof for self-employed:Sales Tax Registration/ VAT Registration/ Service Tax Registration
Utility bills of shops and establishments, etc.
Property Loan Salaried Customers
Loan application form with passport size photographs
Proof of identity and residence proof
Current bank statement and latest salary slip
PAN Card / Form 60
Last 6 months bank transactions statement
Cheque for the processing fee

Self Employed Professionals
Complete loan application form with passport size photographs
Address proof and identity proof
Current bank statement and latest salary slip
Last 3 years income tax certificate for both business and self, last 3 years profit and loss statements and balance sheets
Last 6 months bank transactions statement
Cheque for the processing fee

Self Employed Businessman
Loan against property application form with passport size photographs
Proof of identity and proof of address
Current bank statement and latest salary slip
Profit and loss statements of last 3 years and balance sheet and last 3 years income tax returns (self and business)
Last 6 months bank transactions statement
Cheque for the processing fee
Education Loan Admission letter from the educational institution in which you have got admission giving details of year wise fee, boarding and lodging expense and letter confirming scholarship if you have been accorded any.
Attested copies of age proof, residence proof and birth date.
Self attested passport size photograph of applicant, co applicants and guarantor.
Copy of degree certificates and mark-sheet of previous qualified course
Income proof/latest tax return of co applicants, parents, guarantor (if any).
Details of collateral security along with government approved valuation certificate (if any).
Bank account statement of applicant, copy of passport and visa in case of abroad.

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