2017-10-11 :Allahabad Bank waives processing fee on home, car loans
Processing fee on home and car loans has been waived off as part of Allahabad Bank festive offering AllBank Utsav. This offer will be valid from October 1, 2017 to March 31, 2018.The Bank has also reduced the MCLR for one-year tenor to 8.45% per annum making home, car and other retail loans cheaper.
2017-09-27 :Allahabad Bank plans to raise Rs. 100 crore through bonds
Public sector lender, Allahabad Bank is planning to raise Rs. 100 crore through the issuance of bonds on a private placement basis. The bank has notified that raised funds will be deployed by it to finance its working capital as well as long term funding requirements.
2017-09-27 :Allahabad Bank to introduce 2-tier savings bank interest rate from October 1
Allahabad Bank is going to introduce 2-tier interest rate on its savings account. According to the new structure, the bank will offer a rate of 3.5 percent for saving deposits balance up to Rs. 40 lakh as compared to 4 percent earlier. However, for saving deposits balance above Rs. 50 lakh, rate of interest has been retained at 4 percent per annum. The revised rates are effective from 1st October, 2017.
2017-09-04 :Allahabad Bank cuts MCLR by 5 basis points
Allahabad Bank has reduced its marginal cost based lending rate (MCLR) by 5 basis points across all tenors. For overnight and one month maturities, the rate has been revised to 7.95 per cent and 8.05 per cent respectively, while for three month maturities the rate has been reduced to 8.25 per cent. The new MCLR rate for six month and one year is 8.35 per cent and 8.45 per cent respectively. The new MCLR rates are effective from 1st September, 2017.
2017-07-03 :Allahabad Bank revises interest rate on home loans
Public sector lender, Allahabad Bank has revised its home loan interest rates. For loans upto Rs. 75 lakh, the rates have been revised to 8.5 per cent from 8.65 per cent earlier and for home loans above Rs. 75 lakh, the rates have been reduced to 8.6 per cent as compared with 8.75 per cent earlier. The interest rate for loans between Rs. 3 crore and Rs. 5 crore will be 8.85 per cent while it will be 9 per cent for home loans above Rs. 5 crore. The new home loan interest rates are effective from 1st July, 2017.
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