Allahabad Bank- Loan for Doctors/ Medical Practitioners

Purpose of Loan:

Any personal purpose including purposes for meeting expenses of professional requirement.

Eligibility:

Only the individual doctors and medical practitioners can avail this loan. 

Quantum of Loan:

Amount equivalent to annual income or Rs.5,00,000 lakhs, whichever is less.

Rate of Interest:

Rate of interest of professional loan is PLR + 1.00 %

Processing Fee:

1.00% of loan amount, minimum Rs.500/ is considered as processing fee for the loan.

Security for the Loan:

1. Primary - NIL

2. Collateral - Not mandatory

3. Personal Guarantee of the Doctor is needed for the loan.

Repayment Period:

Repayment of loan can be in maximum 60 months equal monthly installments.

Mode of Repayment:

Through post dated cheques the repayment of loan can be done.

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