Allahabad Bank is a nationalized bank of India providing Banking and Financial services for so many years. When it comes to its age, it is the oldest joint stock bank of India. Recently in 2014, it celebrated the 150th year of its structural establishment. Bank of Allahabad has its headquarters at Kolkata.
It has 3245 branches all over the country. S.S.Mallikarjuna Rao is the Managing Director and the CEO of the bank. The bank provides several different services. It has a total asset of US$34 billion. It ranks 1882 in the Forbes Global 2000 list. In 2006, Bank of Allahabad established its first office outside of India. It had its representative offices in Shenzen and the mainland of China. In 2007, Allahabad bank established its first overseas bank branch in Hong Kong. In the same year, the bank crossed the 10 million mark in its business services.
History of Allahabad bank
The bank got its shape in 1865 in the city of Allahabad by a group of European people. The head office of the bank because of ethical business considerations and financial reasons got shifted to Calcutta. In 1969 there was a significant change where Bank of Allahabad became nationalized with 13 other banks. A tremendous change came in 1989 when United Industrial Bank Ltd got merged with Bank of Allahabad. The bank had made itself a part of P&O banking corporation’s group, and in 2007 it finally opened its first overseas bank branch at Hong Kong For the first time in so many years the Bank business services crossed a mark of Rs 1,00,000 cores lack. The bank has put into practice the CBS in all its branches. Overall these, the bank has grown into one of the best commercial bank serving the people of the country, providing them with the best benefits. Over 2500 branches were recorded of Bank of Allahabad all over the country, which is a very remarkable achievement. In the 2013 fiscal year, the Bank of Allahabad attended an outstanding performance of its career. It had reached a milestone business figure that is Rs 3, 00,000 crore which is a huge amount and had entered a new world of commercial success that is it came in “Orbit of Large Banks." In 2014, Bank of Allahabad celebrated its 150 years of establishing a foundation.
Services offered by the bank
Personal Banking Services
-Diverse kinds of accounts based on the customer's requirement
Corporate Banking Services
-Attractive loans catering to your needs
-Cash management and gold card schemes
-Trade finance schemes
Allahabad Bank is the oldest nationalized bank tries its level best to create the ideal institution-customer relation. It has produced many attractive schemes for its customers. Some of the eye-catching projects related to a savings account are-
-Shakti accounts (to encourage women participation in banking services)
-Saral accounts (accounts with no minimum account balance required)
Allbank Senior (for the senior citizens of the country)
Allahabad bank is committed to its role in participation in empowering the country to greater heights which is evident from its active involvement in various Govt. schemes like Atal Pension Yojana, Pradhan Mantri Jan Dhan Yojana, Sukanya Samriddhi Yojana, etc. It also believes in the financial inclusion process for which it has employed around 4400 Bank Mitras in rural areas of the country. The facility of RuPay Card operations has encouraged digital push through the usage of domestic RuPay card at Bank Mitra Locations.
The bank also caters the traders and business class customers by giving account offers like current account, current plus accounts, etc. It provides loans to business class peoples coming under the guidelines of RBI, a loan maximum up to 50 million rupees. It also includes banking options to the Nonresidents of India (NRI) who once had an Indian passport.
Services for agricultural works
-Akshay Krishi (credit support for various crops)
-Finance for tractors
Allahabad Bank is one of the few banks of the country which has very swiftly adapted itself to the digital world by replacing its old technologies with the newer ones to provide excellent service to its consumers. The mobile banking and the net banking services has received positive reviews from its customers due to its proper management and smooth functioning.
Allahabad bank has a history of providing its customers the best services, and this is evident from the fact that the bank's logo says that "a tradition of trust." This signifies that the bank has a responsibility for it to provide the best service to its customers, and it is fully willing to fulfill it.
|Phone Number||1800 57 22 000 / 2242 0863/ 2242 0915 2242 0869/ 2210 3777 2242 0900 / 2242 0883|
|Head Office||2, N.S. Road, Kolkata - 700 001|
|Loan Type||Interest Rate||Minimum Age (in yrs.)||Minimum Income (in Rs.)|
|Car Loan||10.7% per annum||The loan should be repaid at least three months before the date of retirement from service||Minimum gross monthly income Rs.25000/-|
|Business Loan||Starting from 11.15%||25 to 65 years||Regular Income|
|Loan Against Property||Starting from 14.15% floating||21 to 65 years||Regular Income|
|Personal Loan||13.15% to 14.10%||21 to 58 years||Regular Income|
|Home Loan||8.70% onwards||Min 21 and Max 60 years||Regular Income Source|
|Two Wheeler Loan||11.80%||21 to 60 years||minimum Rs. 1.8 Lakh|