Andhra Bank
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Toll Free Number: 1800 425 1515

Call 040-23122297 for Internet & Mobile Banking/ATM -24x7 Helpdesk or mail to us on adchelpdesk@andhrabank.co.in

Anytimers
 
Loans for 2 Wheelers
 
 Nature of the Scheme
  • 2 wheeler loans to Individual
 
 Eligibility
  • In case of salaried class minimum take home pay of 40% after deducting the installment for proposed loan

  • Loan can be sanctioned to Son/Daughter basing on the income eligibility of parent, including parent as co-applicant.

 Rate of interest
For loans up to 36 months : MCLR + 1.80 %  
For loans above 36 months : MCLR + 1.80 % + 0.25 %
 Quantum of Finance

New Vehicle:

  • 85% of on road price (includes invoice price, Life tax, Registration charges, Insurance and accessories) for salaried class/ SME/Corporate borrowers of the Bank. For other borrowers 80% .
  • Maximum Loan Amount is Rs.5.00 lakhs.
 
 Repayment
  • Repayable in maximum of 60 EMIs or in Quarterly/Half yearly/Yearly instalments for a maximum period of 60 months depending on the income flow and occupational status of the applicant.
 
 Co-obligation
Third party acceptable to the Bank .
 
 Security

Hypothecation of vehicle purchased .

 
Documents
  • Valid driving license
  • Proforma Invoice.
  • Salary Slip
  • It Returns
  • Assessment order.
  • Documents for KYC compliance.
 
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