|Loan Name||Interest Rate||Processing Fee||Loan Amount||Tenure|
|Allahabad Bank Car Loan||9.10%, Floating||1.00% of loan amount||Three time Net Annual Salary||84 months|
|Dream Car||1YMCLR+0.25% - 1YMCLR+3.00%||0||maximum of up to 3 times net annual salary||up to 84 months|
|All Bank Vahan Loan||0||0||20 Lakh and above||7 years|
|AB Mobike Loan||11.70 PA||534||1 lakh||4 years|
|AB Commercial Vehicle Finance Scheme||MCLR 4.50||0.36||200 lakhs||Up to 5 years|
Q: For which vehicles does Allahabad Bank provide car loan?
A: Allahabad Bank offers loans for mostly all types of vehicles such as Jeep, Van, Car and Multi Utility Vehicles.
Q: Does Allahabad bank provide car loan for pensioners and retired individuals?
A: Yes, Allahabad offers car loans to retired individuals who are earning or drawing a pension of at least Rs.20,000 per month.
Pensioners of Allahabad Bank will not be charged processing fees.
Q: Are there any documentation charges for a car loan in Allahabad Bank?
A: No, Allahabad Bank does not collect any documentation charges and also Allahabad does not charge any amount for inspection of the car for loan approvals.
Q: How the CIBIL score effect on Car Loans?
A: CIBIL scores play an important role in loan approvals. CIBIL scores will help you get better terms and interest rates from any bank. If you have a score of 750 or above, banks will give quick approval.
Q: What are the margin requirements of Allahabad Bank Vehicle Loan?
A: Allahabad Bank requires 15% of the on-road price of the vehicle to be set aside as margin. The on-road price includes the registration charges, road tax and insurance charges. For pre-owned cars, 85% of the Agreed Purchase Price will be set aside as margin if the vehicle is valued by Approved Automobile Valuer. In other cases, 60% of the Valuation of the Vehicle is the required margin.