- Easy loan with repayment in equal monthly installments
- Flexibility to choose repayment period from 1 to 4 years
- Loan amount from Rs. 30,000/- to Rs. 3,000,000/-
- Simple and easy documentation
- No hidden cost
- Low markup rate
- Finance Enhancement
- Prepayment Facility (partial & full)
The facility is currently being offered in Lahore, Karachi, Islamabad / Rawalpindi, Faisalabad, Multan, Sialkot, Gujranwala and Hyderabad only.
You are eligible for Allied Personal Finance if:
- You are a resident Pakistani national
- You are salaried or self-employed individual
In case of Salaried Individual
- You are minimum 21 years old and maximum 59 years old
- Minimum six (06) months relationship with ABL or another bank
- Minimum net monthly salary of Rs.25,000/- in case of salary account with ABL and Rs.35,000/- in case of salary account with another bank
- Working as permanent or direct contract staff with minimum length of employment of 2 years
In case of Self-Employed Business Person / Self-Employed Professional
- You are minimum 21 years old and maximum 64 years old
- Minimum twelve (12) months relationship with ABL or twenty-four (24) months with another bank
- Minimum net monthly income of Rs.45,000/- in case of account with ABL or Rs.55,000/- in case of account with another bank
- Minimum 2 years of business in case of account with ABL or 3 years in case of account with another bank
Q. What is the markup rate applied on Allied Personal Finance?
Allied Bank is offering Allied Personal Finance at a competitive markup rate of upto 1 Year KIBOR + 17% for salaried individuals and upto 1 Year KIBOR + 18% for self-employed individuals or as per prevailing Schedule of Charges.
Q. Does ABL charge Processing Fee or any other charges?
Yes, Processing Fee is applied and deducted from the approved loan amount at the time of disbursement. For any fee or charges, please refer to prevailing Schedule of Charges (SOC) of the Bank.
Q. What are the loan repayment options?
The loan can be repaid in 12, 24, 36 or 48 equal monthly instalments, depending on your choice of tenure i.e., the options are available for full repayment in 1 to 4 years.
Q. How much loan can I avail?
The loan amount could range from Rs.30,000/- to Rs.3,000,000/- depending upon the applicant’s credit worthiness, cushion in DBR (Debt Burden Ratio) and overall profile.
Q. Can I make partial pre-payments against the financing facility?
Yes, a customer may make partial pre-payments also known as balloon payments. Partial pre-payment can be made after completion of 6 months of financing which should at least three or more instalments amount; further, maximum two (02) balloon payments are allowed during tenor of the loan.
Q. Can I get my loan settled before maturity?
Yes, you may exercise the right to fully pay off the loan any time before maturity of loan.
Q. Is there any pre-payment penalty?
Prepayment penalty shall be applicable as per prevailing SOC.
Q. How can I Apply for the loan?
You can visit your nearest ABL branch and fill out the application form to apply for Allied Personal Finance.
Q. What is the application processing time for Allied Personal Finance?
An average processing time for disbursement of loan is 15 working days provided all required documents are submitted with the application form to the satisfaction of the Bank.
Q. From where can I get further information or track the status of my application?
You may contact us on ABL Helpline 111-225-225 for any further information.