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Allahabad Bank - AllBank Saral Loan |
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Product Name: |
AllBank Saral Loan |
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Loan Details
Loan Type: |
Personal Loan
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| Amount Requested: |
Rs.100,000 |
| Total Interest: |
Rs.21,298 |
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Interest Rates
Interest Rate: |
13.00%
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| Eligibility Notes: |
The applicant should be a permanent employee of the Institution
The minimum monthly net salary of the applicant is Rs.4,000
The applicant must have at least 45 days leave balance
Total deductions should not be below 50% of monthly gross salary |
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Other Loan Features
Loan Amount: |
Rs.40,000 to Rs.300,000 |
| Repayment: |
Maximum 60 Equated Monthly Instalments
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| Incentives: |
0.5% rebate in interest rate is allowed if liquid collateral security (FDR / NSC / LIP / KVP) or Equitable Mortgage of Land / Building for the amount equal to the loan amount is offered |
| Exclusive Features: |
Only available for employees of institutions whose salaries are disbursed through the bank's branches |
| General: |
50% of the eligible loan amount may be availed for purchasing any consumer durable item, two wheeler or any other tangible item |
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Fees Processing Fees: |
1% Minimum Rs 500
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| Prepayment Charges: |
2% of the outstanding balance if prepaid within 1 year, after that 1% only in case of takeover |
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