Allahabad Bank home loan interest rate: Allahabad Bank home loan rate can be variable or fixed. Variable Allahabad Bank home loan interest rate for an amount up to 20 Lacs for up to 10 years is BR+0.75%. Fixed Allahabad Bank home loan rate for an amount up to 20 Lacs for up to 10 years is 11.50%.  Variable Allahabad Bank home loan interest rate for an amount from 20 Lacs to 50 Lacs for up to 10 years is BR+1.50%. Fixed Allahabad Bank home loan rate for an amount from 20 Lacs to 50 Lacs for up to 10 years is 12.25%.  Variable Allahabad Bank home loan rate for an amount above 50 Lacs for up to 10 years is BR+2.00%. Fixed Allahabad Bank home loan rates, for an amount above 50 Lacs for up to 10 years is 12.50%. Allahabad Bank home loan interest rate keep varying on a regular basis. You can get updated information about Allahabad Bank home loan interest rate from the bank.

Allahabad Bank Home Loan Eligibility:

Allahabad Bank Home Loan Eligibility Criteria For Salaried People:

As per the Allahabad Bank home loan review the person should have sufficient regular income. Allahabad Bank home loan can be sanctioned only to those who file for income tax return. As per the Allahabad Bank home loan eligibility an applicant is assessed on income, age etc.

Allahabad Bank Home Loan Eligibility Criteria For Self Employed:

Allahabad Bank home loan review shows that a loan applicant should have filed for income tax return. Allahabad Bank home loan amount cannot exceed 4 times the gross income average shown. You can enhance your Allahabad Bank home loan eligibility by including your spouse’s income.

Allahabad Bank Home Loan Documents:

Fully filled application form

2 photographs

Age proof

Income Proof

Residence Proof

Signature Proof

Allahabad Bank Home Loan Documents For Salaried People:

Salary slips

Form 16

Allahabad Bank Home Loan For Self Employed:

IT Documents

Proof of business

Procedure And Options To Apply For The Loan:

The customer needs to submit duly filled form and attach related documents and submit it to the bank authorities for processing. The form is available at the branches or can be downloaded from the official website of the bank.

Maximum And Minimum Tenor Of The Loan:

 As per the Allahabad Bank home loan review one can get a maximum repayment period of 25 years.

What would be the repayment options/facilities?

The customer can pay back his loan in equated monthly installments.

Pre closure process: In case a customer of Allahabad Bank home loan wishes to close his loan before the agreed period or term is termed as pre closure. In this case the bank charges a 2 % penalty in case if the loan is being taken over by any other financial institution or is being paid back through own resources of the customer.

Tax benefits: One can get tax benefits on the principal and the interest paid according to the Income Tax Act 1961 which varies yearly according to the changes made by the Government.

Maximum tenure for Allahabad Bank home loan:  As per the Allahabad Bank home loan review one can get a maximum repayment period of 25 years.

Repayment options: The Allahabad Bank home loan review shows that a customer can repay through progressive monthly installments.