If you need some extra money, then borrowing from your bank might be the answer. If you use a bank simply for savings and a current account, then perhaps it is time to look at other financial products that your bank can offer. If you want to borrow from your bank, here are some of the possible options and benefits.

Why borrow money?

People borrow money for all sorts of reasons, and in all different ways. If you are finding it hard to make ends meet at the moment then getting a credit card or loan may help you out over the next few months. Also, if you need to make a large purchase but you need to spread the cost, then borrowing from your bank is a good option.

Credit cards

Perhaps the most common way to borrow from your bank is to get a credit card. A credit card gives you a certain amount of money or credit that you can spend, which you have to pay back with interest. Bills are paid monthly and you can choose to pay the full amount or just the minimum payment each month. Borrowing money on a credit card is expensive, but for short-term purchases they can be great if you pay the balance back in full each month.

Loans

Loans are another common way to borrow from your bank. Your bank is likely to have a variety of loans on offer, ranging from small personal loans to much larger loans for business or home improvements. If you need to pay off high interest debts or make a large purchase and pay it back slowly, then loans might be the right option for you.

Advantages of using your bank

The main advantage of using your bank to borrow money is that they know what sort of spending patterns you have, and if you have built a rapport with them they are likely to be more generous than other lending institutions. It may also be convenient to use the same bank that you do now, as all your accounts are in one place and you can manage your money more easily.

Disadvantages

There are also a number of disadvantages to using your own bank. Although your bank may give you a good deal, it may not be the best deal you can possibly find. Although speaking to your own bank is a good idea, you should shop around and look at other lenders in order to get the best possible terms. You should also make sure that borrowing money is right for you, and that you can make any repayments that are required.

Allahabad Bank is the oldest public sector bank in India with branches all over India. Allahabad Bank India was established in the year 1865. Apart from serving to domestic customers, Allahabad Bank NRI section also provides a wide range of attractive Deposti Schemes to Non-Resident Indians.Here we compile the information about  Allahabad Bank for your Guidance

Allahabad Bank Branches

Allahabad Bank has more than 1800 branches all over the country. In Uttar Pradesh alone Allahabad Bank has approximately 600 branches and approximately 500 in West Bengal. Allahabad Bank also has 7 days banking branches. They are as under:

Sl.No Name of Branch Region
1 Kota Jaipur
2 Ambabari Jaipur
3 Alwar Jaipur
4 Nayapalli Bhubaneswar
5 Konnagar Chinsurah
6 Orai Jhansi
7 Jawaharnagar Guwahati
8 Nehru Colony , Dehradun Meerut
9 C.O. Moradabad Moradabad
10 AMU. Aligarh Br. Moradabad
11 Gonda
12 Sitapur
13 Bahraich
14 Ujriwan, (Gomotinagar) Lucknow
15 Kanpur Main Br. Kanpur
16 Gumti No.5 Kanpur
17 Burra Colony Kanpur
18 Bagh Bazar R.O.Kol(Urban)
19 J.L.Road, Muzzaffarpur Muzaffarnagar
20 P.P.Colony, Patna
21 Noida New Delhi
22 C.B., Ludhiana Chandigarh
23 Panch Kula Chandigarh
24 Sahidnagar Bhubaneswar
25 Vyapar Vihar , Bilaspur
26 Guwalior Bhopal
27 Kalyani Devi Allahabad
28 C.O. Gorakhpur
29 Shiwala Mahant Mirzapur
30 U.P. College Varanasi
31 Mukul Bose Road R.O Kolkata(Metro)
32 K.N.Road, Berhampore Berhampore
33 Burdwan Main Road. Asansol

Allahabad Bank Loans

Allahabad Bank has a wide range of loan product for everyone. Some of them are as follows:

* All Bank Saral Loan scheme
* Personal Loan for Pensioners
* Personal Loan for Doctors
* Loan against NSC/KVP
* Housing Finance
* Furnishing Loan
* AllBank Rent
* Car Finance

Allahabad Bank Services

Allahabad Bank gives an exclusive service for outstation cheques. Bank of Allahabad guarantees 7 Days outstation cheques to be credited from its 180 locations. This service is exclusively given to a customer without any extra charge. Along with this service Allahabad Bank in India also provides the following services:

* All Ayushman Bima Yojana
* All Bank-Property
* Cash Management Services
* Kisan Credit Card
* ATM
* Flexi-Fix Deposit
* Gold Deposit
* SSI Finance
* Gold Card Scheme for Exporters
* Kisan Shakti Yojana
* Bancassurance & Mutual fund
* Visa Debit cum ATM Card