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Allahabad Bank New Saral Loan has been designed to offer finances to people who work for
organization whose salaries are being disbursed through any Allahabad Bank branches. This loan
may be used for the purpose of buying a two wheeler or any consumer durable and tangible item.
Owing a two wheeler in India is of utmost importance given the condition of dilapidated roads and
dense traffic conditions. A two wheeler is convenient, time effective, and is also easy on your
pocket. Maintaining a two wheeler requires a lot lesser effort than maintaining a car. Allahabad Bank
understands this need of every Indian, hence offers New Saral Loan and AB Mobike loan to
customers at affordable interest rates. With the help of financial assistance from Allahabad Bank,
you can buy a two for owning a necessary mode of transport or for the thrill of biking.
The borrower needs to have a minimum salary of Rs.15000 per month or ITR of Rs.180000.
The loan eligibility will be his/her salary for 6 months or half of ITR amount (maximum of
Rs.1.00 Lakh).
Applicant should be between 21 to 60 years old.
If the borrower is a salaried individual, the loan should be repaid 3 months before the date of
retirement.
Allahabad Bank New Saral Loan
The applicant should be at least 21 years old.
The loan should be repaid at least one year before his/her retirement from service.
Applicants minimum gross salary per month should be Rs.20000.
Applicant should be a permanent employee with a minimum 2 years service in the same
organization.
2.
3.
AB Mobike Loan
Purpose:
For purchase of a new engine driven two wheeler.
Eligibility:
Employee having minimum salary of Rs.15000/pm or ITR of Rs.180000. Loan
eligibility will be six months salary or of ITR amount maximum of Rs.1.00 Lac.
Age : 21 to 60 years. In case of salaried persons, the
loan should be repaid 3 months before the date of
retirement.
Rate of interest
Guarantee
Guarantee of Spouse and a person of good means.
Loan Amount:
Maximum Rs.1.00 Lac replacing Maximum Rs.40000/-.
Margin :
10% of total cost on road
Repayment Period:
48 months through EMI
Prepayment Charges
*2.25% of outstanding balance only in case of takeover.
Processing Fee
*Subject to Change without prior notice.
MCLR+3.00%