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Loan Details

Interest Rate

8.25% onwards

Processing Fee

0.40% of loan

Prepayment

Charges

Nil

Tenure

Up to 10 years

  • Eligibility Factors
  • Documents Required
  • Loan Verification Process
  • Rate of Interest

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Allahabad Home Loan
 

a. Age: 21-70 years

b. CIC Report: CIBIL / EXPERIAN / CRIF HIGHMARK / EQUIFAX (any two)

c. Employment Type : Salaried Professionals Self-Employed Pensioners

d. Income Source: Regular, steady and adequate

e. Work Experience: 3 years for salaried

5 years for self-employed


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All borrowers have to submit these documents:

 

●      Duly filled and signed application form with photographs.

●      Valid identity, address and age proofs of individuals and business as applicable.

●      Title documents of the property.

●      Last three months’ salary slip for salaried individuals.

●      Bank statement or passbook of last six months for salaried individuals and 12 months for self-employed individuals.

●      Duly certified ITR and financial statements, partnership deed, Memorandum and Articles of Association or LLP for self-employed individuals as applicable.


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The loan verification proceeds in the following stages:

 

●    Fill an online loan application form and submit/upload documents on apnapaisa.com.

●      apnapaisa.com will transfer your application to Allahabad Bank.

●      Allahabad Bank evaluates application form and documents for eligibility criteria.

●      The bank also conducts background verification of the applicant.

●      After satisfactory evaluation, the bank sends a loan sanction letter to the applicant.

●      The applicant and the bank complete formality of signing the loan agreement.

●      The bank disburses funds to the bank account of the applicant.

 


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●      8.25% and above, depending on the type of home loan.