Allied Bank Personal Loan

Allied Bank Personal Loan

Allied Bank is one of the most important and oldest banks in Pakistan. It is ranked 5th in the list of the largest commercial banks in Pakistan and has more than 1400 branches. Apart from the core activities of the bank, it offers its customers financial services like auto finance, personal finance, housing finance, etc. also provides The bank is offering personal loans that are structured to help people in their time of need. Let’s consider more details to know about Allied Bank Personal Loan.

Key Features of Allied Bank Personal Loan:

Borrowing limit

Allied Bank Personal Loans range from Rs.30,000 (Thirty Thousand) to Rs.3,000,000/(Three Million). How much you are eligible to borrow is determined by several factors such as your gross current salary and the total amount of your current debts. Banks will calculate an individual’s DBR (Total Debt Ratio) to estimate how much credit you qualify under Allied Bank’s loan scheme.

Allied Bank Personal Loan

Loan Tenure of Allied Bank:

Personal loans from Allied Bank can be availed from 1 to 5 years. It will be at the discretion of the individual but the bank may consider all the difficulties and risks involved in the transaction and limit the period to any fixed period below 5 years.

Criteria for Getting a Personal Loan:

Following are the basic criteria required for a personal loan

  • Be a Pakistani citizen
  • The maximum age should be 59 years.
  • If monthly
  • Belonging to a salaried or salaried class, it is mandatory to have an account in any bank for at least six months.
  • If employed, should have an account with any bank for at least 12 months i.e. one year.
  • If a permanent employee or a minimum two-year employment contract is mandatory.
  • The criteria for salaried eligibility is the minimum salary is Rs 25,000 if you have an ABL account, if you have an account with any other bank then the criteria amount is Rs 35,000.
  • And if self-employed, your salary should be at least Rs 45,000 if you have an account with ABL, and Rs 55,000 if you have an account with any other bank. Allocate the monthly installment amount using the ABL Personal Loan Calculator.
  • For Self-Employed, their business tenure must be at least two years in the case of an existing ABL account holder and 3 years in the case of another bank.

Necessary Documents:

  • All these important documents are required to apply for ABL personal loan
  • Three months salary slip
  • Account statement of three months or six months
  • Two passport-size photographs
  • Identification card
  • Utility Bill

All These Documents Will Take Less time to Approve the Loan:

Calculate your installment

Before deciding which of the Allied Bank personal loan schemes is best for you, a top tip is to use the Allied Bank Personal Loan Calculator to check your monthly installments. This will allow you to know about the installment that you can pay back every month with ease and convenience. 

 

To use the calculator, simply visit the ABL website and click on the Personal Loan Calculator option. Enter the amount you want in Dropbox, choose your city, choose your financing period, select the markup type, and hit the “Compute” button. The Allied Bank Personal Loan Calculator will give you the effective markup rate and your monthly installment payment result.

Allied Bank Online | How to Register:

There are three ways to apply for an Allied Bank personal loan.

  • Call the ABL Helpline and express your interest in an Allied Bank Personal Loan. The bank will send someone to you to obtain your signature on all important documents. You can also give all the necessary documents to the bank representative.
  • If you have an account, you can also settle all the issues by visiting your respective branch and asking the branch staff to assist you in applying for a personal loan.
  • Allied Banks can use ABL’s website to apply for personal loans online. Just log on to the ABL website. 

Fill out the online form. You have to scan all your important documents so that you can upload them easily. Wait for the bank’s response and keep all your preparations complete.

 

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