- Eligibility Factors
- Documents Required
- Loan Verification Process
- Rate of Interest
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
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.
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.
● 8.25% and above, depending on the type of home loan.