Allahabad Bank History, Products & Services | Check Benefits, Credit Card & Features

About Allahabad Bank: Founded in Allahabad in 1865 and nationalized by the Indian government in 1969, the bank offered banking and financial services for 155 years before merging with Indian Bank in 2020. It was India’s oldest operating joint stock bank until its merger.

Allahabad Bank had around 3245 branches in India as of March 31, 2018. During the fiscal year 2017-18, the bank did 3.8 trillion in total transactions. In June 2018, the bank’s market capitalization was $573 million, placing it at #1,882 on the Forbes Global 2000 list.

History of Allahabad Bank

Allahabad Bank is the oldest nationalized bank, with a long history of providing financial services to its loyal customers since 1865. Their constant track record of profit growth gives you confidence that they will handle all your banking needs.

The bank established its wholly-owned subsidiary AllBank Finance for merchant banking in 1991. In June 2006, the bank launched its first representative office in Shenzen, China, and the following year, it opened its first CBS branch.

The bank now serves customers in 110 locations through a network of 6 zonal offices, 2227 branches (including one in Hong Kong), and 221 ATMs. Allahabad Bank has a strong presence in India and just built its first international branch in Hong Kong.

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The bank has also made agreements with correspondents in numerous locations abroad, ensuring that all NRI customers have a good banking experience.

Products and services offered by Allahabad Bank

Deposit Products

• All Bank Tax Benefit Term Deposit Scheme
• All Bank Premium Current Account
• All Bank Vikash SB Account
• Flexi–fix Deposit
• All Bank Mahila Sanchay Account
• Sishu Mangal Deposit Scheme
• Current Plus Deposit Scheme
• Rs.5 Banking
• All Bank Premium SB Account

Retail Credit Products · All Bank Housing Finance Scheme

• All Bank Car Finance Scheme
• All Bank Saral Loan Scheme
• All Bank Abhusan Scheme
• Overdraft Facility in Savings Bank Account
• All Bank Furnishing Loan
• All Bank Property Loan
• Personal Loan Scheme for Pensioners
• All Bank Gold Loan Scheme
• All Bank Mobike Scheme
• Personal Loan Scheme for Doctors/ Medical Practitioners
• Loan against NSC/ KVP
• All Bank Trade Scheme
• AllBank Gyan Dipika Scheme
• Allabnk Reverse Mortgage Scheme
• All Bank Educational Loan Scheme

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Services Offered by Allahabad Bank

• Visa Debit Cum ATM Card 
• Government Business 
• All Ayushman Bima Yojana 
• Regional MSME Care Centres
• Real Time Gross Settlement (RTGS) 
• Gold Card Scheme for Exporters 
• Depository Services 
• Cash Management Services 
• National Electronic Funds Transfer (NEFT) 
• Charter for MSMEs