Costs, rates, and financial details
When applying for Allied Personal Finance, it is important to note that the cost of credit is based on KIBOR (market benchmark rate), plus a margin that varies according to your professional profile. For salaried workers, the profit margin rate can reach 1-year KIBOR + 17%, while for self-employed individuals this limit is up to 18%.
It is important to highlight that when apply for Allied Personal Finance, there is a processing fee that is deducted directly from the loan amount at the time of disbursement. Although the bank does not work with hidden fees, it is essential to consult the current Schedule of Charges (SOC) to understand possible penalties in case of full early settlement, ensuring that your planning is flawless from beginning to end.
Eligibility criteria
To apply for Allied Personal Finance, salaried workers must be between 21 and 59 years old, have Pakistani nationality, and a minimum income of Rs. 25,000 (for those already receiving through ABL) or Rs. 35,000 (other banks). In addition, at least 2 years of professional experience is required.
For self-employed workers and entrepreneurs who wish to apply for Allied Personal Finance, the permitted age goes up to 64 years. The net monthly income must be at least Rs. 45,000 for ABL clients or Rs. 55,000 for clients of other banks, with at least 2 to 3 years of business activity.
Advice for you!
Our main recommendation is that you consider the processing time, which takes on average 15 working days. Therefore, do not leave it to the last minute if your goal has a fixed date. Keep all your documentation organized to avoid delays in the analysis and ensure greater speed in the process.
Another vital piece of advice concerns partial payments: since the bank allows up to two “balloon” payments during the contract (provided the amount is equivalent to at least 3 installments), use this facility to reduce total interest whenever you have extra funds available.
Finally, remember to create a solid financial schedule to avoid delays in payments and to ensure that your income is sufficient for all financial commitments. This is essential to prevent paying penalties or high interest throughout the loan.
Step by step to apply for Allied Personal Finance
To apply for Allied Personal Finance, it is necessary to visit the nearest branch. But first, as we mentioned earlier, complete your simulation using the online financial calculator available on the bank’s official website. To run your simulation and check the nearest branch to your home, click the button below to be redirected to the institution’s website.
