Andhra Bank
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andhra
 
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 andhra Retail » Loans
andhra

andhra Housing Loans andhra Mortgage Loans
andhra Education Loans andhra Rent Recivables
andhra Vehicle Loans andhra Reverse Mortgage Loans
andhra Personal Loans andhra Features of Loans Against NSCs, KVPs, LIC Policies
andhra Gold Loans    
 
Housing Loans
 
 andhra Where can I avail a housing loan
andhra

Loan can be availed from any branch of Andhra Bank or specialized Retail Credit Branches nearest to you
 
 andhra Who can be a co-applicant
andhra

Applications of individuals can be considered jointly with spouse and major children for sanction of housing loan
 
 andhra If applied jointly, will the income of the co-applicant be considered for loan eligibility and is the property to be registered in joint names
andhra

Yes, provided the necessary documents evidencing the same are submitted. The property need not be registered in the joint names of the applicants.
 
 andhra Can I also take a loan for repairs or renovation
andhra

Yes, you can avail of a loan for either repairs or renovation
 
 andhra How can I know my EMI
andhra

EMI stands for Equated Monthly Instalment comprising principal and interest component. You may use our EMI calculator to know your monthly instalment based on loan amount, interest and repayment period
 
 andhra Can I avail a loan for purchase /Cconstruction in one city while working in another city EMI
andhra

Yes, subject to verification of legal sanctity and fulfillment of other parameters
 
 andhra Can I get my loan liability insured
andhra

Yes, upon payment of applicable one time premium and submission of health declaration etc
 
 andhra What is the mode of interest charged
andhra

Rate of Interest is floating in nature and linked to our Base Rate subject to periodic changes. It is charged on daily reducing balances which lowers your effective rate of interest significantly
 
 andhra Do I get any tax benefits by availing a housing loan
andhra

Yes, under the relevant sections of the Income Tax Act, resident Indians are eligible for tax benefits on principal and interest component on the loan. A certificate for claiming tax benefits is issued once in a year

 
 andhra Do I need to pay any additional charges
andhra

Nominal processing fee is collected upfront at the time of sanction of the loan and administrative charges at the end of every quarter
 
 andhra Where and how can I repay
andhra

Loan installments can be paid at any of our branches. Alternatively, standing instructions can also be given for deduction of installments from your savings account.

 
 andhra Can I pay my instalments in advance
andhra

Yes, in fact it is in your interest. To the extent of amount of  repayment, interest component gets reduced

 
 andhra Can I close my loan account ahead of the due date
andhra

Yes, you can prepay the loan. However, prepayment charges as applicable will be collected.

 
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Education Loans
 
 andhra Where can I avail an education loan
andhra

Loan can be availed from any branch of Andhra Bank or specialized Retail Credit Branches nearest to you
 
 andhra How can I know my EMI
andhra

EMI stands for Equated Monthly Instalment comprising principal and interest component. You may use our EMI calculator to know your monthly instalment based on loan amount, interest and repayment period

 
 andhra Can I get my loan liability insured
andhra

Yes, upon payment of applicable one time premium and submission of health declaration
 
 andhra What are the components of the loan
andhra

The various components eligible for inclusion are tuition fee, equipment essential for the course, hostel fees, transportation, books and stationery, computer/laptop.
 
 andhra What is the mode of interest charged?
andhra

Simple Interest is charged during the initial holiday/moratorium period. The repayment holiday is for course period + one year from the date of completion of studies or six months from the date of getting employment, whichever is earlier.
 
 andhra Do I get any tax benefits by availing an education loan
andhra

Yes, under the relevant sections of the Income Tax Act, the paying parent is eligible for tax benefits in respect of the interest paid.  A certificate for claiming tax benefits is issued once in a year
 
 andhra Do I need to pay any additional charges
andhra

No processing charge/upfront fee is collected on education loans
 
 andhra Where and how can I repay
andhra

Loan instalments can be paid at any of our branches. Alternatively, standing instructions can also be given for deduction of instalments from your parents’s savings account
 
 andhra Can I pay my instalments in advance
andhra

Yes, in fact it is in your interest. To the extent of amount of  repayment, interest component gets reduced
 
 andhra Can I close my loan account ahead of my due date
andhra

Yes, you can repay the loan, without any prepayment charges.
 
 andhra I have completed my studies and am employed. Do you sanction loans for acquiring additional qualifications to improve skills
andhra

Yes, education loans are provided under our career advancement scheme provided you have ten years of residual service and submit no objection certificate and undertaking letter from your employer.
 
  andhra Can I take a loan for taking up overseas employment after completion of my
       studies
andhra

Yes, loans are sanctioned for taking up employment abroad and to meet initial expenditure for air tickets etc.
 
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Vehicle Loans
 
  andhra Where can I avail a vehicle loan
andhra

Loan can be availed from any branch of Andhra Bank or specialized Retail Credit Branches nearest to you.
 
  andhra What make of vehicle can I purchase
andhra

Finance is extended for all makes of cars and two wheelers, including second hand vehicles which are not more than three years old.
 
  andhra If applied jointly, will the income of co-applicant be considered for loan eligibility?
andhra

Yes, provided the necessary documents evidencing the same are submitted
 
  andhra How can I know my EMI ?
andhra

EMI stands for Equated Monthly Instalment comprising principal and interest component. You may use our EMI calculator to know your monthly instalment based on loan amount, interest and repayment period
 
  andhra Can I get my loan liability insured?
andhra

Yes, upon payment of  applicable one time premium and submission of health declaration
 
  andhra What is the mode of interest charged
andhra

Rate of Interest is floating in nature and linked to our Base Rate subject to periodic changes. It is charged on daily reducing balances which lowers your effective rate of interest significantly
 
  andhra Do I need to pay any additional charges?
andhra

Nominal processing fee is collected upfront at the time of sanction of the loan and administrative charges at the end of every quarter
 
  andhra Where and how can I repay?
andhra

Loan installments can be paid at any of our branches. Alternatively, standing instructions can also be given for deduction of installments from your savings account.
 
  andhra Can I pay my installments in advance?
andhra

Yes, in fact it is in your interest. To the extent of amount of  repayment, interest component gets reduced.
 
  andhra Can I close my loan account ahead of my due date?
andhra

Yes, you can repay the loan. However, prepayment charges as applicable will be collected.
 
  andhra Does your bank have any tie-up arrangements with any company and what are the benefits of the same?
andhra

Yes, we have tie up arrangements with Bajaj Auto Limited, Hero Honda Motors for two wheelers and Tata Motors and Maruti Suzuki for four wheelers. Free accessories will be offered exclusively to customers purchasing four wheelers with loans availed from our bank.
 
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Personal Loans
 
  andhra Where can I avail a personal loan
andhra

Loan can be availed from any branch of Andhra Bank or specialized Retail Credit Branches nearest to you
 
  andhra For what purpose can I avail a personal loan?
andhra

Loan can be availed from any branch of Andhra Bank or specialized Retail Credit Branches nearest to you
 
  andhra Can I avail the loan jointly with my spouse?
andhra

Yes, spouse income can also be included for eligibility purposes
 
  andhra Do I need to offer any security ?
andhra

No security is required
 
  andhra How can I know my EMI
andhra

EMI stands for Equated Monthly Instalment comprising principal and interest component. You may use our EMI calculator to know your monthly instalment based on loan amount, interest and repayment period
 
  andhraWhat is the mode of interest charged
andhra

Rate of Interest is floating in nature and linked to our Base Rate subject to periodic changes. It is charged on daily reducing balances which lowers your effective rate of interest significantly
 
  andhra Do I need to pay any additional charges
andhra

Nominal processing fee is collected upfront at the time of sanction of the loan and administrative charges at the end of every quarter
 
  andhra Where and how can I repay
andhra

Loan installments can be paid at any of our branches. Alternatively, standing instructions can also be given for deduction of installments from your savings account.
 
  andhra Can I pay my installments in advance
andhra

Yes, in fact it is in your interest. To the extent of amount of  repayment, interest component gets reduced
 
  andhra Can I close my loan account ahead of my due date
andhra

Yes, you can prepay the loan without any charges being levied for the same
 
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Gold Loans
 
  andhra Where can I avail a gold loan
andhra

Loan can be availed from any branch of Andhra Bank
 
  andhra For what purpose can I avail a gold loan
andhra

Loan can be availed for meeting contingencies
 
  andhra What will be the quantum of loan that I can avail?
andhra

The quantum of loan is fixed on the basis on the appraiser’s value which is dependent on fineness, purity and net weight of the ornaments (value/weight of the stones in the ornaments will not be taken into account)
 
  andhra What security do I need to provide
andhra

You need to deposit gold jewellery which will be valued and based on which the loan will be granted
 
  andhra What is the mode of interest charged?
andhra

Rate of Interest is floating in nature and linked to our Base Rate subject to periodic changes. It is charged on daily reducing balances which lower your effective rate of interest significantly
 
  andhra Do I need to pay any additional charges ?
andhra

Nominal appraisal charges are collected upfront at the time of sanction of the loan.
 
  andhra Where and how can I repay
andhra

Loan installments can be paid at any of our branches. Alternatively, standing instructions can also be given for deduction of installments from your savings account.
 
  andhra Can I pay my instalments in advance
andhra

Yes, in fact it is in your interest. To the extent of amount of  repayment, interest component gets reduced
 
  andhra Can I close my loan account ahead of my due date
andhra

Yes, you can prepay the loan without any charges being levied for the same
 
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Mortgage Loans
 
  andhra Purpose
andhra

To meet any contingencies and personal  credit requirement
 
  andhra Types of securities accepted
andhra

National Savings Certificates (NSC), Kisan Vikas Patra (KVP), Life insurance policies, any other security that the Bank may specify from time to time
 
  andhra Who can be a co-applicant
andhra

Applications of individuals can be considered jointly with spouse and major children for sanction of housing loan
 
  andhra I have availed a housing loan.Can I also take a mortgage loan on the same security
andhra

Yes, subject to availability of sufficient surplus security coverage and at the same branch where the title deeds are lodged
 
  andhra How can I know my EMI
andhra

EMI stands for Equated Monthly Instalment comprising principal and interest component. You may use our EMI calculator to know your monthly instalment based on loan amount, interest and repayment period
 
  andhra What is the mode of interest charged
andhra

Rate of Interest is floating in nature and linked to our Base Rate subject to periodic changes. It is charged on daily reducing balances which lowers your effective rate of interest significantly
  andhra Do I get any tax benefits by availing a mortgage loan
andhra

No tax relief is available for mortgage loans
 
  andhra Do I need to pay any additional charges
andhra

Nominal processing fee is collected upfront at the time of sanction of the loan and administrative charges at the end of every quarter
 
  andhra Where and how can I repay
andhra

Loan installments can be paid at any of our branches. Alternatively, standing instructions can also be given for deduction of installments from your savings account.
 
  andhra Can I pay my installments in advance
andhra

Yes, in fact it is in your interest. To the extent of amount of  repayment, interest component gets reduced
 
  andhra Can I close my loan account ahead of the due date
andhra

Yes, you can prepay the loan. However, prepayment charges as applicable will be collected.
 
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Rent Receivables
 
  andhra Where can I avail this loan
andhra

Loan can be availed from any branch of Andhra Bank
 
  andhra How can I know my EMI
andhra

EMI stands for Equated Monthly Installment comprising principal and interest component. You may use our EMI calculator to know your monthly installment based on loan amount, interest and repayment period
 
  andhra What is the mode of interest charged
andhra

Rate of Interest is floating in nature and linked to our Base Rate subject to periodic changes. It is charged on daily reducing balances which lowers your effective rate of interest significantly
 
  andhraI have leased out my premises for a period of 60 months. Am I eligible for a rent receivable loan
andhra

Yes, however the quantum of loan will be based on the unexpired period of lease
 
  andhra Do I need to get the lease agreement registered
andhra

Yes, the lease agreement is to be registered with the competent authority by paying the applicable stamp duty
 
  andhra Is any undertaking letter from the lessee required to be submitted
andhra

Yes, the lessee has to enter into a tripartite agreement undertaking to remit the rent amount directly to the Bank.
 
  andhra Do I need to pay any additional charges
andhra

Nominal processing fee is collected upfront at the time of sanction of the loan and administrative charges at the end of every quarter
 
  andhra Can I close my loan account ahead of the due date
andhra

Yes, you can prepay the loan. However, prepayment charges as applicable will be collected.
 
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Reverse Mortgage Loans
 
  andhra Where can I avail this loan
andhra

Loan can be availed from any branch of Andhra Bank.
 
  andhra For what purpose can I avail the loan
andhra

Loan can be availed for renovation of the existing property, medical emergencies and other genuine needs
 
  andhra I have let out my house. Can I take a reverse mortgage loan on the property
andhra

No, loans under this scheme are extended against house property which is under self occupation. 
 
  andhra What is the mode of interest charged
andhra

Rate of Interest is floating in nature and linked to our Base Rate subject to periodic changes. It is charged on daily reducing balances which lower your effective rate of interest significantly . 
 
  andhra Do I need to pay any additional charges
andhra

Nominal processing fee is collected upfront at the time of sanction of the loan and administrative charges at the end of every quarter
 
  andhra Can I close my loan account ahead of the due date
andhra

Yes, the borrower or his legal heirs shall be provided with a right to settle the loan without sale of the property
 
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Features of Loans Against NSCs, KVPs, LIC Policies
 
  andhra Purpose
andhra

To meet any contingencies and personal  credit requirement
 
  andhra Types of securities accepted
andhra

National Savings Certificates (NSC), Kisan Vikas Patra (KVP), Life insurance policies, any other security that the Bank may specify from time to time
 
  andhra Restrictions
andhra


loans or advance of any type will not be sanctioned against

  • the security of  Indira Vikas Patra (IVP)
  • NSCs and  KVPs issued by far off post offices
  • Life Insurance policies which are in the name of third parties
 
  andhra Amount of loan
andhra

Upto Rs 50000/- without third party guarantee and above Rs 50000/- against third party guarantee acceptable to the Bank
 
  andhra Margin
andhra

25 % (value of the security includes accrued interest)
 
  andhra Facility
andhra

Term Loan
 
  andhra Repayment
andhra

Repayable within a maximum period of sixty months
 
  andhra Prepayment charges
andhra

Charges applicable as per guidelines in force
 
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