Find details on Andhra Bank personal loan interest rates. Get instant quotes on Eligibility, Documents List, EMI & processing fees through Deal4loans.
Rate of Interest for Personal Loan Andhra Bank
Clean Loans / Cash Personal loan = 11.30% – 12.80%
Consumer Loan = 12.70% – 13.95%
You Can get a personal loan from Andhra Bank for these purposes:
To provide consumer credit to individuals having an assured source of regular income to acquire consumer durables such as purchase of brand new consumer durables like Refrigerators, TVs, wooden and steel furniture, washing machines, Mixer and grinders, Cooking ranges and other house hold equipments
To meet any genuine credit requirement of the borrower for personal purpose.
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Quantum of Finance
- For Salaried Persons
Fresh Finance: 8 times gross salary subject to maximum of Rs. 1,00,000 /- (Salary should be routed through Andhra Bank)
Repeat Finance: 10 times gross monthly salary subject to maximum of Rs. 1,50,000/- (take home pay – 40%)
Take Home pay : After all deductions including the repayment instalment for the proposed loan shall not be less than 40% of gross salary.
For Non Salaried Persons : 2 times average annual proven income (Annual income as average of last three years income shown in IT returns/ assessment orders).
For Pensioners: 8 times of monthly pension. Cap for pensioners is Rs. 1,00,000/- . Maximum age 75 years.
For LIC Agents :
For those who are income tax assesses: Two times of average renewal commission for the previous three years, subject to a maximum of Rs. 2,00,000/-
For those who are not income tax assesses: 50% of average renewal commission basing on a statement of income for the previous three years, subject to a maximum of Rs. 2,00,000/-
- Maximum age : 55 years
Repayment – Upto 5 years or 60 months EMI
Security – Nil
Toll Free Number: 1800 425 1515
Andhra Pradesh – Srikakulam, East Godavari, West Godavari & Guntur
Odisha – Ganjam & Gajapati
Telangana – Warangal Rural, Siddipet, Jagtial, Sircilla Rajanna, Peddapally, Mancherial, Wanaparty, NagarKarnool, Jogulamba Gadwal
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