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

 
Clean Loans
 
 Nature of the Scheme
 
Cash loan to Individuals
 
 Purpose
 
To meet any genuine credit requirement of the borrower for personal purposes.
 
Quantum of Finance
 
    • 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. 5,00,000/- . 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

      Maximum 60 months monthly instalments. (EMI)

 Rate of interest
 
 
Loan Period  For State and Central Government employees, Public sector under takings who are drawing salary through our Branches and Pensioners For private employees, non salaried class and LIC agents etc 
 Upto 36 months  MCLR (One year) + 3.00%  MCLR (One year) + 3.50%
 Above 36 months  MCLR (One year) + 3.25%  MCLR (One year) + 4.50%
 
  

 Prepayment Charges 
 
No prepayment charges.
 
 Co-obligation
 

A good third party acceptable to the Bank         

Nominee/family pensioner in case of pensioners.

In case of LIC agents – Spouse or one of the family members and 1 LIC agent.

 
 
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