Who can apply for Allied Personal Finance?
Salaried Pakistani nationals aged 21 to 59 with permanent or direct-contract employment of at least two years, a minimum of six months of banking relationship with ABL or another bank, and a net monthly salary of Rs. 25,000 if the salary account is at Allied Bank or Rs. 35,000 if it is at another bank.
Self-employed professionals and business owners aged 21 to 64 also qualify, with a banking relationship of twelve months at ABL or twenty-four months at another bank, a net monthly income of Rs. 45,000 (ABL account) or Rs. 55,000 (other bank), and a business tenure of two years (ABL) or three years (other banks). In both cases the amount depends on your creditworthiness, your debt burden ratio and your overall profile, and the loan is currently offered in eight cities.
Requirements to get Allied Personal Finance
✔️ Pakistani national with a valid CNIC, within the age brackets above
✔️ Salaried: salary slips and the bank statement showing at least six months of salary credits, plus employment proof of two years or more
✔️ Self-employed: bank statements covering 12 or 24 months, business registration or professional proof and income evidence
✔️ Application form filled in and signed at an ABL branch in one of the eight cities served
✔️ Clean eCIB record and a debt burden compatible with the requested instalment
A piece of advice for you!
Ask for the exact spread over KIBOR that applies to your segment and whether the rate is fixed for the tenure or reset periodically. The published range is wide (+10% to +18%), and the difference between the two ends on a Rs. 1 million loan is tens of thousands of rupees a year.
Plan to use the balloon payments. After six months you can pay off three or more instalments at once, up to twice during the loan; a bonus or a strong quarter used this way cuts the markup for every remaining month.
Finally, request the Schedule of Charges in writing, since the processing fee and the prepayment penalty are defined there rather than on the product page, and keep the document with your loan contract.
What are the charges of Allied Personal Finance?
As published by Allied Bank: pricing between 1-year KIBOR + 10% (minimum) and 1-year KIBOR + 18% (maximum), offered within that range according to segment and other factors, with the FAQs quoting up to 1-year KIBOR + 17% for salaried and + 18% for self-employed customers; a processing fee deducted from the approved amount at disbursement, per the Schedule of Charges; partial prepayments (balloon payments) after six months, minimum three instalments and maximum two during the loan; early or full settlement allowed at any time with a prepayment charge per the Schedule of Charges. Ask the branch for the current Schedule of Charges for the exact amounts.
How to apply for Allied Personal Finance?
Visit your nearest ABL branch in Karachi, Lahore, Islamabad or Rawalpindi, Faisalabad, Multan, Sialkot, Gujranwala or Hyderabad, fill in the application form and hand over your CNIC and income documents. The bank checks the eCIB and your statements and, on average, completes processing in fifteen working days after all documents are received. You can follow the status through the ABL helpline at 042-111-225-225. Once approved, the amount is credited to your account and the instalments start on the agreed dates.
Have your CNIC and six months of bank statements? Press the button to go to the official page and find your branch.
Kredua is not a bank, a lender or a financial institution and does not issue cards or loans. We review products offered in Pakistan so that you can decide with better information; every application is made directly with the bank, which alone assesses and approves it.
