presentation on allahabad bank

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

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.

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.

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

Types of savings account

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.

http://www.rupeetimes.com/saving_accounts/allahabad_bank/rs_5_banking.html

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.

http://www.rupeetimes.com/saving_accounts/allahabad_bank/allbank_premium_sb_account.html

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.

http://www.rupeetimes.com/saving_accounts/allahabad_bank/allbank_mahila_sanchay_account.html






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.

http://www.rupeetimes.com/saving_accounts/allahabad_bank/allbank_vikash_sb_account.html




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.

http://www.rupeetimes.com/saving_accounts/allahabad_bank/sishu_mangal_deposit_scheme.html




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)

LOANS

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

HOUSING LOANEligibility :

Salaried persons, Professionals & Self-Employed and Businessmen having regular income to liquidate the loans

AgeMinimum : 21 yearsMaximum : 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

Security :Equitable / Registered Mortgage of the property

Rate of Interest

Up to Rs. 30 LacAbove 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%

EDUCATION LOANEligibility :

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.

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 interestEducation 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.

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.

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:-

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

Rate of InterestThe 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.

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

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

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

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.

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

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

TYPES OF FIXED DEPOSITSFLEXI 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.

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

"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

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








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


5 years and upto 10 years Less than Rs. 5 cr 8.75

For NRO Fixed Deposit - Less than Rs. 5 cr (last revised on Dec 18, 2012










1 year to less than 2 years Less than Rs. 5 cr 9.00



5 years and upto 10 years Less than Rs. 5 cr 8.75

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.

a) For NRE Fixed Deposit - Less than Rs. 5 cr (last revised on Dec 18, 2012)


1 year to less than 2 years

Less than Rs. 5 cr 9.00

2 years to less than 3 years


3 years to less than 5 years


5 years and upto 10 years


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.

http://www.unitedworld.edu.in/

CampusAhmedabad 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.

presentation on allahabad bank

Education

savings account rs

account holder

minimum account balance

types of savings account

allahabad bank savings

normal savings bank

savings bank account

account balance isrs