Andhra Bank
Skip to navigation | Skip to main content

Toll Free Number : 1800 425 1515

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 


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   RLLR+4.40%   RLLR+4.40%
 For loans above 36 months to 60 months  RLLR + 5.40% + 0.25%  RLLR + 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