Andhra Bank
Facebook Twitter
Skip to navigation | Skip to main content

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
 
Consumer Loans
 

 Nature of the Scheme

  • Loans for purchase of consumer durables and other house hold appliances.
 
 Eligibility
  • Any individual having repayment capacity,
  • Salaried persons
  • Pensioners drawing pension in the branch
  • Others.
 Rate of interest 

 

For loans up to 36 months : MCLR (1 year) + 4.40 %
 
For loans above 36 months : MCLR (1 year) + 5.40 + 0.25 %
 
 Quantum of Finance

Maximum amount of loan that can be sanctioned :

  • 10 month gross salary in case of salaried class .
  • 40% of gross annual income  in case of non-salaried class .
  •  4 months pension in case of pensioners.

                    Or

  • 75% cost of the article whichever is less
 
 Repayment

Repayable in monthly installments. Maximum period 60 months.

 
Co-obligation

Husband/ father or any third party (with sufficient worth and of regular income) acceptable to the bank.

 
 Security

Hypothecation of the article purchased with Bank finance

 
 Collateral security
  • Assignment of Life insurance policy with equivalent surrender value
  • Pledge of shares, NSCs, Units etc. of adequate value
 
 Documents

Proof of Income – 
Salary Slip/ IT Returns/ Assessment Order, Property Statement
For Non salaried person – Latest Income Tax Assessment Order, Property statement
Any other Valid document
Latest  quotation for article proposed to be purchased.

 
Checklist for Personal Loan
 
 
 
 
chiclogo