Allahabad Bank Car Loan Interest Rates

Base Rate 9.10%
Rate of Interest 9.10%
Margin 15% of the vehicle’s on-road price and this includes one time registration along with first time insurance charge and road tax
Loan Limit Thrice the net annual salary
Loan Tenure 12 months to 84 months
Minimum monthly income required Rs. 25000 for salaried individuals
Prepayment Penalty In case of a takeover, 2% of the outstanding balance.
Processing Charges 1% of the amount taken as loan(minimum of Rs.500) However, Allahabad Bank employees are exempted from paying processing charges
Mortgage Charges NA
Inspection Charges Nil