Allahabad Bank Business Loan Interest Rate Calculator - Jan 2017

Allahabad Bank Business Loan Interest Rates

Last Updated 16th Jan 2017
Self Employed
Interest Rate 11.10% - 15.55%
Lowest EMI Rs. 1,718 per lakh
Tenure From 12 months to 84 months
Loan Amount Min Rs. 100,000 and Max Rs. 50,000,000
Processing Fee Rs. 229 - per lac, Min Rs. 2,038 Max Rs. 22,928
Part Prepayment, Charges 2.25% of outstanding balance in case of loan takeover
Early Foreclosure, Charges 2.25% of outstanding balance in case of loan takeover
Apply Business Loan Online @13.50%*

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Allahabad Bank Business Loan

Allahabad Bank gives the facility of business loan to the people who need finance to expand their business. There are some benefits of taking business loan from Allahabad Bank:
  • You can prepay part of your loan anytime after paying 1% prepayment charges
  • You can foreclose your entire Business loan anytime after paying the forclosure charges
  • Allahabad Bank has over 3,892 branches in India where you can avail service

Business Loan Allahabad Bank

Business loan interest rates offered by Allahabad Bank are fixed as well as floating
  • Fixed rates allow you to borrow loan at a fixed price which won’t change in the whole tenure in case of change in Allahabad Bank benchmark rate and should be chosen only if you believe that the rates will not hike in future
  • In contrast to this are floating rates which changes with a single change in Allahabad Bank benchmark rate in your loan tenure. You should go for floating rates if you can take the risk of hike in interest rates
Allahabad Bank Business Loan Interest Rate depends upon
  • Loan amount: Business loan rate in Allahabad Bank depends upon the loan amount you apply for. Higher the loan amount, lesser will be the interest rate
  • CIBIL Score: Allahabad Bank offers business loan at higher interest rate if your CIBIL score is poor or vice versa
  • Monthly Revenue: Allahabad Bank will avail you business loan at lower interest rate if you have higher monthly revenue
  • Time in Business: Allahabad Bank offers business loan at lower rates if you are doing business since long time

Business Loan Charges

Foreclosure Charges- These charges are to be paid in case you want to repay your entire loan amount before the end of tenure period. Allahabad Bank allows prepayment of business loan after paying 0 EMI’s with prepayment charges
Processing Fee- Allahabad Bank asks for a processing fee of Rs. 229 - per lac, Min Rs. 2,038 Max Rs. 22,928 of loan amount with applicable service tax

Allahabad Bank Business Loan EMI Calculator

Business Loan EMI is a fixed amount that you pay each month towards the repayment of your business loan till the end of tenure. Lowest EMI offered by Allahabad Bank is 1,718 per lakh loan amount. Business loan EMI of Allahabad Bank depends on factors like:
  • Interest Rate: Higher the interest rate, higher will be the EMI. For a 84 months business loan from Allahabad Bank at interest rate of 11.10% per annum, EMI will be Rs. 1,718 per Rs. one lakh loan amount. At interest rate of 15.55% for the same loan, the EMI will be Rs. 1,961
  • Loan tenure: Longer the loan tenure, lesser your monthly EMI. At interest rate of 11.10% per annum, the EMI on Allahabad Bank business loan would range from Rs. 8,843 to Rs. 1,718 for loan tenure ranging from 12 to 84 months
  • Amount Borrowed: Allahabad Bank Loan EMI will be high if you apply for a high loan amount. For amount borrowed 100,000, the EMI at 11.10% for 84 months would be 1,718. Similarly for amount borrowed 50,000,000, the EMI at 11.10% for 84 months would be 858,753.

What are the benefits of calculating business loan EMI?

  • Business loan EMI calculator of Allahabad Bank helps you to calculate your monthly EMI at different rate of interest
  • Allahabad Bank EMI calculator helps you to know your capacity to repay the loan after maintaining your standard of living
  • You get a rough idea about your monthly EMI and can plan your monthly budget accordingly
Estimated EMI online by using EMI Calculator.

Allahabad Bank Business Loan Eligibility Calculator

Business loan eligibility criteria Allahabad Bank

Eligibility of Business loan in Allahabad Bank relies upon different factors but the most important factor is your ability to repay the loan. The main factors on which the eligibility of an applicant depends are
  • Profitability: Business loan eligibility significantly depends upon profitability status and future prospects of your business.
  • Business Stability: Future business prospects and its stability is important to improve your eligibility for business loan. Allahabad Bank requires minimum business track record of 12 months.
  • CIBIL Score: When checking eligibility for business loan, Allahabad Bank will look at the complete CIBIL report. Allahabad Bank will check your repayment history for all current and past loans and credit cards.
Popular Products:
  • Working Capital Finance
  • Term Loan

Business Loan Allahabad Bank documents required

  • Address proof of individual: Aadhar Card, Voter’s ID Card, Bank statement, registry copy, rent agreement , utility bills.
  • Identity proof of individual: Passport, Driving License, PAN Card, Aadhar Card, Voter’s ID Card
  • Business existence proof: PAN, sales tax/ excise/ VAT/ service tax registration, copy of partnership deed, trade license, certificate of practice, registration certificate issued by RBI, SEBI

Compare Allahabad Bank Business Loan

Allahabad Bank Business Loan in India

Allahabad Bank Business Loan Customer Care Number, Email, Application Status, Branches

City Customer Care Number
Agra 0562-2582010,
Ahmedabad 079-26442199,
Ambala 0172-2709458,
Anand 079-26442199,
Aurangabad 022-24921986,
Bangalore 080-25590985,
Bhilai 1800-22-0363,
Bhilwara 0141-2741334,
Bhiwadi 022-24921986,
Bhopal 0755-2583634,
Bhubaneswar Cuttack 0674-2557563,
Bikaner 0141-2741334,
Chandigarh 0172-2709458,
Chennai 044-28156607,
Cochin 1800-22-0363,
Coimbatore 044-28156607,
Dehradun 0135-2713976,
Delhi 011-23341669,
Durg 1800-22-0363,
Faridabad 011-23341669,
Gandhinagar 079-26442199,
Ghaziabad 0562-2582010,
Goa 1800-22-0363,
Greater Noida 011-23341669,
Gurgaon 011-23341669,
Guwahati 0373-2310965,
Gwalior 0755-2583634,
Hyderabad 040-27637738,
Indore 0755-2583634,
Jabalpur 0755-2583634,
Jaipur 0141-2741334,
Jalandhar 0172-2709458,
Jodhpur 0141-2741334,
Kanpur 0512-2545434,
Karnal 0172-2709458,
Kolhapur 022-24921986,
Kolkata 033-22316634,
Kota 0141-2741334,
Kozhikode 1800-22-0363,
Lucknow 0522-2286650,
Ludhiana 0161-2440035,
Madurai 044-28156607,
Meerut 0562-2582010,
Mehsana 079-26442199,
Mohali Sas Nagar 0172-2709458,
Mumbai 022-24921986,
Mussoorie 0135-2713976,
Nagpur 022-24921986,
Nashik 022-24921986,
Noida 011-23341669,
Noida Extn. 011-23341669,
Panipat 1800-22-0363,
Patna 0612-2224197,
Pondicherry 1800-22-0363,
Pune 022-24921986,
Raipur 0771-4059516,
Rajkot 079-26442199,
Ranchi 0651-2560357,
Rohtak 1800-22-0363,
Roorkee 0135-2713976,
Salem 044-28156607,
Shimla 1800-22-0363,
Sonepat 1800-22-0363,
Surat 079-26442199,
Trichy 044-28156607,
Udaipur 0141-2741334,
Vadodara 079-26442199,
Varanasi 0562-2582010,
Vijaywada 040-27637738,
Vizag 040-27637738,
Allahabad Bank Business Loan News - Jan 2017
06th Jun 16 Allahabad Bank gains most from revaluation of real estate assets
As per the latest results, Allahabad Bank has turned out to be the biggest gainer with addition of around Rs 1802 crore from its revalued commercial and residential real estate investments. The bank owns several expansive properties in the central business districts of Kolkata. UCO Bank credited nearly Rs 1,737 crore as gains from revaluation of real estate investments. In the case of United Bank of India, the revaluation gain was vetted at Rs 347 crore at the end of FY16.
13th May 16 Allahabad Bank posts Q4FY16 net loss of Rs 581 cr
As per the results of Q4FY16, Allahabad Bank reported a net loss of Rs.581.13 Crore as the bank had to provide for higher provisions for bad loans and taxes. The loss was registered due to a tax write-back of Rs.1,032.77 crore in the March quarter, compared with a tax expense of Rs.175.05 crore in the year ago period. Asset Quality showed signs of deterioration during the March quarter as Gross NPAs were 9.76 percent as on quarter ending 31st March 2016 as compared with 6.4 percent in the previous quarter. Net NPAs were at 6.76 percent in the March quarter against 4.23 percent in the previous quarter and 3.99 percent in the same quarter last year. Provisions and contingencies also increased by 294 percent to Rs.2,487.15 crore when compared on yoy basis.The Net interest income (NII) declined by 12.5 percent to Rs.1,273.70 Crore when compared on a yoy basis. Non Interest Income also reduced by 2 percent to Rs.554.73 Crore.
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