This document provides information about Allahabad Bank, including its history, international operations, savings account details, loan products, and fixed deposit schemes. Some key points: - Allahabad Bank was established in 1865 and is one of the oldest joint-stock banks in India. It has international operations in China and Hong Kong. - For savings accounts, interest rates are 4% yearly. Accounts can be opened with minimum deposits of Rs. 500 or Rs. 1000 for cheque book/debit card. - Loan products include housing, education, vehicle, and other loans. Interest rates vary by loan type and amount. - Fixed deposit schemes have minimum periods of 15 days up to a maximum of 10 years.

1. GROUP MEMBERS:
 AEGIDIUS SAVIO MONDAL
 ALOK KUMAR
 PRABAR RAKSHIT
 RANJEET SINGH
 SANI SAHA
 SAYAN ADHIKARY

2.  Allahabad Bank has been operating since
the 24th of April 1865 and is the oldest of
the banks in regards to the joint stock.
 Over the years they have grown and are
catering to the banking needs of many
customers every day.
 The bank has also spread its operations to
international locations like china in 2006 in
the month of June and opened its first ever
branch in Hong Kong in the year 2007 in
the month of February.

3.  Interest Rates:
The Allahabad Bank savings account interest rate is 4%
and they offer this interest on the savings bank account
yearly.
 Deposit Amount Required:
Anybody can open an Allahabad Bank savings account by
depositing a minimum of 500/ and this is without cheque
book and debit card facility and for people who wish to
have cheque book facility and also a debit card then they
can do so by depositing a minimum of 1000/.
 Eligibility Criteria:
Any citizen who has the required documents can open an
Allahabad Bank savings account without any issues.

4. ADVANTAGES OF HAVING A
SAVINGS ACCOUNT
 free access to internet and mobile
banking
 , can get loan easily with less or no
documentation,
 Concessions And Attractive Offers -
good discounts for their debit card used
at their mentioned outlets

5. Types of savings account

6. Rs. 5 Banking
 The account can be opened with a minimum
initial deposit of Rs. 5.
 No charge is applicable if the amount of
minimum deposit falls by Rs. 5.
 Duplicate passbook will be issued with a
charge of Rs. 10.
 This account can be converted to a normal
Savings Bank account after depositing
minimum account balance in the account.
 No cheque book or ATM facilities are
available with this account.

7. All Bank Premium SB Account
 The account holder can avail 25% discount on all service
charges.
 Instant credit available for all outstation cheques upto Rs.
25,000.
 International debit cum ATM card as well as cheque Book will
be issued to the account holder.
 Account holder will also be eligible for free personal accident
cover of Rs. 1,00,000.
 Minimum AQB
(Average Quarterly Balance)
 For Rural branches - Rs. 5000
For Other branches - Rs. 20000
 25% discount on Processing Fees across the board for all
types of Retail Loans from the branch.

8. AllBank Mahila Sanchay Account
 This savings bank account can be opened and
maintained with a minimum balance of Rs. 1.
 Demand Drafts and cheques up to Rs. 1,000 meant for
educational purposes of the wards of the account holder
would not attract any charges.
 On request the account holder can also avail a Piggy
Bank free of cost to garner small savings in it and to
then deposit a lump sum in her bank account at once.
 The account will not have the cheque book and ATM
card facility below minimum balance of Rs.500 as in the
case of general SB account but will enjoy such facilities
if account balance isRs.500 or more.

9. AllBank Vikash SB Account
 This account is meant for various local
organisations and Non-Government
Organisations which are engaged in social
causes and development services.
 The organisation is required to maintain a
minimum balance of Rs. 50,000.
 Discount of 25% will be provided on all service
charges.
 Facility of instant credit of outstation cheques
Up to Rs. 25,000 will be provided.

10. Sishu Mangal Deposit Scheme
 Any citizen of India who falls in the age
group of 1 to 15 years can get this account
under guardianship.
 The amount needs to be deposited on
predetermined basis, the bank will provide
a chart and according to that the amount
needs to be deposited in the account.
 The amount to be deposited in the account
will increase in accordance to the maturity
value.

11. PENALTIES ON SAVINGS
ACCOUNT
Rs. 5 Banking:
 No charge is applicable if the amount of minimum deposit falls by
Rs. 5.
 Duplicate passbook will be issued with a charge of Rs. 10.
AllBank Premium SB Account:
 If a customer is unable to maintain minimum balance in his
Premium SB Account then a penalty of Rs. 25 will be levied and if
continues for three continuous months then the account will be
ceased
AllBank Mahila Sanchay Account:
 DD cancellation/Revalidation - 10% of the amount (rounded upto
nearest Rupees)

12. LOANS
• Housing Loan
• Furnishing Loan
• Dream Car Loan
• Gyan Dipika Scheme
• Educational Loan
• Commercial Vehicle Finance
• Personal Loan for Pensioners
• Property Scheme

13. HOUSING LOAN
Eligibility :
Salaried persons, Professionals & Self-Employed and Businessmen having regular income to
liquidate the loans
Age
Minimum : 21 years
Maximum : Age of retirement for salaried class & 70 years for others.
Purpose :
For construction of residential house on land already owned.
For purchase of New / Old / Unfinished house/flat and renovation /extension /repair of the same.
For purchase of plot and construction of house thereon
For renovation / extension / repair of residential house already owned.
Loan amount :
For salaried persons : Up to 60 times of monthly gross salary (Maximum: Rs. 500 Lac)
For others : Up to 5 times of gross annual Income (Maximum: Rs. 500 Lac)
Nature of Loan : Term Loan

14. Security :
Equitable / Registered Mortgage of the property
Rate of Interest
Up to Rs. 30 Lac
Above Rs. 30
Lac and up to
Rs. 75 Lac
Above Rs. 75
Lac and up to
Rs. 300 Lac
Above Rs. 300
Lac and up to
Rs. 500 Lac
BR BR+0.25% BR+0.50% BR+0.75%
Tenure Up to 25 lacs 25-75 lacs 75 lacs & above
Up to 5 years 10.20% 10.45% 10.70%
5-10 years 10.20% 10.45% 10.70%
10-15 years 10.20% 10.45% 10.70%
15-20 years 10.20% 10.45% 10.70%
20-25 years 10.20% 10.45% 10.70%

15. EDUCATION LOAN
Eligibility :
Indian National who has secured admission to professional/ technical courses in recognized
institutions in India or Abroad through Entrance Test/ Merit Based Selection Process after
completion of H.S.C. (10 plus 2 OR equivalent).
Courses Eligible :
For study in India :
 Approved courses recognized by UGC/ Govt./ AICTE/ AIBMS/ ICMR etc.
 Courses like ICWA, CA, CFA etc.
 Courses conducted by IIMs, IITs/ IISc, XLRI, NIFT, NID etc.
 Regular Degree/ Diploma Courses like Aeronautical, Pilot Training, Shipping etc. approved by
Director General of Civil Aviation/ Shipping, if the course is pursued in India.
 Approved courses offered in India by reputed Foreign Universities.
For Study abroad :
 Graduation: For Job oriented professional/technical courses offered by reputed Universities.
 Post Graduation: MCA, MBA, MS etc.
 Courses conducted by CIMA London, CPA in USA etc.
 Regular Degree/ Diploma courses like Aeronautical, pilot training, shipping etc., the Institute duly
recognized by the Competent University/ State Body/ Local Aviation/ Shipping Authority.

16. Quantum of Loan :
Studies in India/Abroad : Maximum Rs. 20.00 lac.
Collateral
 Assignment of Future income
 Co-obligation of parents / guardians
If the loan amount is above Rs.10 Lac
 Full Tangible Collateral Security
Rate of interest
Education Loan: Interest
Rates as per Bank’s Base
Rate (BR)
(i) For IIT/ IIM/ ISB (loan upto
10.00 Lacs)
(ii) For Others
(a) Loan upto 4.00 Lacs
(b) Loan above Rs.4.00 Lacs
10.50% +2.25% = 12.75%
10.50% +3.00% = 13.50%
10.50% +3.00% = 13.50%
@ For girl students, rebate @1% will be allowed under each slab.
Rebate of 1.00% on the interest charged in the moratorium period will be provided if the
interest is serviced during the study period when repayment holiday is specified for
interest / repayment under the scheme.

17. DREAM CAR
Eligibility
Salaried Person : Minimum gross monthly income of Rs. 25,000/-
Agriculturist : Minimum 5 acres of irrigated land holding
Professional & Self-Employed / Businessmen : An IT assesee. With full collateral security, IT
assessment order / IT return may be waived.
Retired individuals : Drawing monthly pension of Rs. 15,000/= and above.
Firm/ Companies: Net profit is sufficient to meet repayment of Car Loan
Security In both cases (New / Pre-owned Vehicle) :
Primary : Hypothecation of Vehicle
Collateral :
 For Loan up to Rs. 20 Lac :
○ Spouse should be a co-borrower if his/her income is considered for eligibility. No Collateral,
No guarantee.
 For Loan above Rs. 20 Lac :
○ Guarantee of one person and Collateral security in form Mortgage of House/Flat.
○ If margin offered is more than 25%, no guarantee and collateral security is required.

18. Repayment Period :
For New Vehicle :
 Individuals: Maximum 84 Months
 For Firm/ Companies: Maximum 60 Months

For Pre-owned Vehicle : Maximum 60 months / Residual life of the vehicle,
whichever is lower
(i) In case of Salary
tie-up & Full Collateral
security,
Doctors/Medical
Practitioners -
10.50%+0.50% =
11.00%
(ii) In case of Others 10.50%+0.50% =
11.00%
Car loan Interest Rates on Allahabad Bank:-

19. FURNISHING LOAN
Housing Finance Scheme For Furnishing and/or Renovation / Repairing of
Existing / New Flats / Houses
Eligibility :
Existing Allahabad Bank Housing Loan customers, owners of flats/houses having
regular income to liquidate the loan amount. Total monthly deduction including
proposed loan instalments should not exceed 60% of the monthly income.
Repayment :
Repayment to start from the next month of disbursement.
 For Salaried Person: To be repaid within a maximum period of 7 years or
length of remaining service, whichever is less.
 For Others: Within 7 years or attainment of 70 years of age whichever is
earlier.
Security :
 Equitable / Supplemental mortgage of flat / house

20. Rate of Interest
The current base rate for furnishing loan is 10.40%
Upto 25 years NORMAL / CARD
RATE
RATE UNDER FESTIVAL
BONANZA
(Valid upto 31.03.2013)
Up to Rs 30 lacs BR BR
Above Rs.30-75 lacs BR+0.50% BR+0.35%
Above Rs.75 lacs- Rs.
3.00 Crores
BR+0.75% BR+0.60%
Above Rs. 3.00 Crores Interest rate shall be decided on case to case basis.

21. GYAN DIPIKA SCHEME
Loan Criteria :
 Need based finance subject to the repaying capacity of the parents,
 Maximum limit limit of the quantum of finance - Rs.1 lac, including all
types of expenses or any of the expenses under the scheme as mentioned
above,
 Net combined income of the parents'/guardians' should be above 40% of
gross income, after considering the EMI of the proposed loan.
Loan Limit : Maximum Rs. 1,00,000/-
Security :
 No tangible/collateral security is required,
 However, a concession of 100 basis points would be allowed for 100%
security cover of the loan amount by way of immovable property/other
liquid security,
 Personal guarantee of the parents/guardian/s

22. COMMERCIAL VEHICLE FINANCE
 Age :
 Individuals - 21-65 years
 Partnership Firms, Companies & Association of persons
– should have been in existence for at least 2 years
 Loan Amount :
 Maximum Rs. 200.00 Lacs (Term Loan + Working
Capital)
Primary security :
Hypothecation of the vehicle

23. Collateral Security & Guarantee :
For Loans up to Rs. 10.00 Lac
 NIL
For Loans above Rs. 10.00 Lac and up to Rs. 100.00 Lac
 An option to the borrower shall be provided between Coverage
under Credit Guarantee Fund Trust for Micro and Small
Enterprises or providing Equitable Mortgage of property, Pledge
of Banks deposit, etc covering full value of loan.
For Loans above Rs. 100.00 Lac and below Rs. 200.00 Lac
 The Loan amount should be covered by the Personal Guarantee
of TWO Guarantors whose net worth should cover the entire
Loan Amount.
 Suitable Collateral Security in the form of Equitable Mortgage
of Property, Pledge of Banks deposits, etc

24. INTERNATIONAL
BANKING
 OVERSEAS BRANCHES AND OFFICES
Hongkong Representative.
Shenzhen Representative Office.
 Targetted to non resident indians who can
open accounts under Repatriable and Non-
Repatriable deposit schemes.

25. What is FCNR (B) A/c ?
- It means ‘Foreign Currency Non-Resident
(Bank)’Account.
LOAN FACILITIES
Housing loans to NRI’s/ PIO’s
Education loans for studying abroad upto 20 lacs

26. FIXED DEPOSITS
 Fixed deposits are deposits payable after a
fixed period of time.
 It carries only simple interest payable
monthly /quarterly/ half yearly annually.
 The minimum period of Fixed Deposit is
15 Days and maximum period is 10 Years.
 However bank may accept deposit for
period exceeding 10 Years in terms of
order of the competent court or where
interest of minors are involved and where
there is valid reason for accepting the
deposit for a longer period

27. TYPES OF FIXED
DEPOSITS
FLEXI FIX DEPOSIT ACCOUNT:
 The scheme gives maximum return without sacrificing the
liquidity.
 Under the scheme, a depositor is required to make an initial
deposit of Rs.25,000/- or more in multiples of Rs.5,000/- as
Fixed Deposit/ Double Deposit Plan for a fixed period of one
year. Thereafter, the depositor can make any number of
deposits in multiples of Rs.5,000/- each at any time in the
account for a period of one year. Every Rs.5,000/- in the
account will be treated as a separate unit of deposit.
 The depositor will be required to maintain a minimum
principal outstanding of Rs.25,000/- i.e. 5 units of Rs.5,000/-
each at all points of time. In case of fall in principal
outstanding in the account below Rs.25000/-, the facility of
further deposit of units in the account will stand withdrawn.
 No loan will be allowed against this deposit.

28.  Diamond Jubilee Deposit Schemes: To
commemorate the diamond jubilee of
India's independence, Allahabad Bank
offers a deposit scheme with an initial
deposit of Rs.15, 000 for a fixed period
of 550 days at 9.25% interest and an
additional interest of 0.50% for senior
citizens. - See more at:
http://www.indiahousing.com/allahabad-
bank/#sthash.vH0cDBdU.dpuf

29.  "Allahabad Bank Tax Benefit Term Deposit Scheme" offering the benefit under
Sec.80C of Income Tax Act for the depositors (Income Tax assesses).
Investment : Any amount not exceeding Rupees one lakh in a year commencing on the 1st day
of April of respective years.
Types of the Deposit : Can be opened in the following types, namely : -
 Single holder Type Deposits : Individual for himself or in the capacity of the "Karta" of a
Hindu Undivided Family.
 Joint holder type deposits : Jointly in the name of two or more persons payable to either of
the holders or to the survivor. Deduction from income under section 80C of Income Tax Act shall
be available only to the first holder of the deposit.
Tenure of Deposit : Five years.
Encashment option : Premature encashment is not permissible.
Rate of interest : The rate of interest on Allahabad Bank Tax Benefit Term Deposit Scheme will
be @ 8.75% p.a. for everyone.
TDS on interest : Interest is liable to tax under section 194A or section 195 of Income Tax Act,
on the basis of annual accrual or receipt, depending upon the method of accounting followed by
the assessee.
Pledging of the Deposit : Can not be pledged to secure loan or as security to any other
asset.
Nomination : Available
Transfer from one branch to another : The deposit may be transferred from the issuing
branch to another branch but not transferable from one bank to another bank

30. Additional interest for seniors is 0.5% in each and every case.
Maturity Period Deposit Amount INTEREST RATE (%
p.a.)
7 days to 14 days Less than Rs. 5 cr 5.00
15 days to 29 days Less than Rs. 5 cr 5.50
30 days to 45 days Less than Rs. 5 cr 6.00
46 days to 60 days Less than Rs. 5 cr 7.00
61 days to 90 days Less than Rs. 5 cr 7.00
91 days to 179 days Less than Rs. 5 cr 7.30
180 days to 269 days Less than Rs. 5 cr 8.25
270 days to 364 days Less than Rs. 5 cr 8.50
1 year to less than 2 years Less than Rs. 5 cr 9.00
2 years to less than 3 years Less than Rs. 5 cr 9.00
3 years to less than 5 years Less than Rs. 5 cr 8.75
5 years and upto 10 years Less than Rs. 5 cr 8.75

31. For NRO Fixed Deposit - Less than Rs. 5 cr
(last revised on Dec 18, 2012
Maturity Period Deposit Amount INTEREST RATE (% p.a.)
7 days to 14 days Less than Rs. 5 cr 5.00
15 days to 29 days Less than Rs. 5 cr 5.50
30 days to 45 days Less than Rs. 5 cr 6.00
46 days to 60 days Less than Rs. 5 cr 7.00
61 days to 90 days Less than Rs. 5 cr 7.00
91 days to 179 days Less than Rs. 5 cr 7.30
180 days to 269 days Less than Rs. 5 cr 8.25
270 days to 364 days Less than Rs. 5 cr 8.50
1 year to less than 2 years Less than Rs. 5 cr 9.00
2 years to less than 3 years Less than Rs. 5 cr 9.00
3 years to less than 5 years Less than Rs. 5 cr 8.75
5 years and upto 10 years Less than Rs. 5 cr 8.75

32.  Non-Resident (Ordinary) Rupee Term
Deposits & Saving Bank A/c :
The Interest rates of NRO deposits is at par
with the Interest Rates for Domestic Deposits.
Differential Rate of Interest/ Additional Rate
for Senior Citizens :
No Differential Rate on interest as also
Additional Interest for Senior Citizens is
allowed for Non-Resident Deposits.

33. a) For NRE Fixed Deposit - Less than
Rs. 5 cr (last revised on Dec 18, 2012)
Maturity Period Deposit Amount INTEREST RATE (%
p.a.)
1 year to less than 2
years
Less than Rs. 5 cr 9.00
2 years to less than 3
years
Less than Rs. 5 cr 9.00
3 years to less than 5
years
Less than Rs. 5 cr 8.75
5 years and upto 10
years
Less than Rs. 5 cr 8.75

34. PENAL RATE OF INTEREST FOR PREMATURE
WITHDRAWAL OF DOMESTIC TERM
DEPOSITS
Period of
Deposit
Amount of Deposit Penal Rate of Interest
Premature
closure of term
deposits for
reinvestment in
our bank
Any amount No penal rate to be charged
15 days and
upto 1 (one)
year*
Any amount No penal rate to be charged
All others All others 1 % penal interest to be
charged
*The period of Deposit agreed upon at the time of making
the deposit.

35. http://www.unitedworld.edu.in/
Campus
Ahmedabad Campus: Karnavati Knowledge Village,
A/907,Uvarsad, S.G.Highway, Gandhinagar
Kolkata Campus: Infinity Benchmark Tower 10th Floor,
Plot - G1, Block - EP& GP, Sec - V, Salt Lake, Kolkata.
Reg. Office: 407, Zodiac Square, 4th Floor Opp.
Gurudwara, S.G. Road, Bodakdev, Ahmedabad.