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

Consumer Loans

 Nature of the Scheme

  • Loans for purchase of consumer durables and other house hold appliances.
  • 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.


  • 75% cost of the article whichever is less

Repayable in monthly installments. Maximum period 60 months.


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


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

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