Andhra Bank is one of the premier commercial banks of India. It was founded by the freedom fighter Dr. Bhogaraju Pattabhi Sitaramayya. Andhra Bank personal loan offers can be classified under two categories namely consumer loans and clean loans.  According to the Andhra Bank personal loan review, main purpose of Andhra Bank personal loan scheme is to provide instant cash to person having an assured regular source of income. It caters to all the personal purposes of individual. We here at moneysuperbazaar provide you detailed and up to date information regarding the Andhra Bank personal loan features, current Andhra Bank personal loan interest rate, Andhra Bank personal loan eligibility criteria, simple procedure to apply for loan, repayment options, pre closure process etc.

What Is The Andhra Bank Personal Loan Eligibility Norm?

Not many conditions are prescribed for Andhra Bank personal loan eligibility. The Andhra Bank personal loan review also shows that people seeking loan earlier got instant loan. Look over details of Andhra Bank personal loan eligibility norms below-

Salaried Person, Pensioner And Others-

Income criteria is as follows-

For salaried individuals, pensioners drawing pension in the branch and for others a minimum annual income of Rs. 30,000 is required. However Andhra Bank personal loan interest rate is same for all.

Documents Required Applying For Loan And Procedure To Apply :

Documents required as part of Andhra Bank personal loan eligibility include proof of income like salary slip, ITR in case of salaried individuals. For non salaried individual latest income tax return along with the other valid documents are a pre requisite. These documents should be deposited in branch of Andhra bank for sanctioning on loan amount.

Maximum Amount Of Loan That Can Be Availed Under Andhra Bank Personal Loan :

The quantum of Andhra Bank personal loan sanctioned should be 10 months gross salary in case of salaried individuals or cost of the article whichever is less, 4 months pension in case of pensioners while in case of others 40% of the annual income as stated by the Andhra Bank personal loan review. 

What Is The Andhra Bank Personal Loan Interest Rate?

The Andhra Bank personal loan rate is 15.50% for the loan amount up to 3 years and 15.75% for 3-5 years period as mentioned by the Andhra Bank personal loan review. The Andhra Bank personal loan rate is very low. Andhra Bank personal loan rate is among the lowest in the entire industry. There are only a handful of banks that offer rates as low as Andhra Bank personal loan interest rate in the personal loan segment.

Repayment Of Loan-

Repayment of Andhra Bank personal loan should not exceed 5 years and is repaid in equated EMI’s by cheque/draft or cash.

Prepayment Charges And Procedure :

The pre payment charges amount to 2% on the amount prepaid as stated by the Andhra Bank personal loan review. These charges are in addition to the Andhra Bank personal loan rate of interest amount and principle.

Product Page Url Of The Official Site And Contact Details Of The Bank: 

The official website of the Andhra Bank is www.andhrabank.in and more info on loans can be obtained on http://andhrabank.in/english/consumerdurables.aspx Contact details of the branches in major cities as follows: