Apply for Andhra Bank Car Loan in Agra-Wishfin

Andhra Bank Car Loan in Agra

About Andhra Bank Car Loan Agra

Andhra Bank is one of the leading public sectors banks in India with the experience of around 100 years in the banking industry. The bank offers a wide array of product and services under the following segment: consumer banking, credit cards, corporate banking, finance and insurance, private banking, wealth management, and agricultural loans. Another important thing to note here is that the Government of India owns more than 60% of the share capital of Andhra Bank as on 31st December 2015 and the state-owned Life Insurance Corporation of India holds 7.66% of the shares. Talking about the business of the bank, the numbers as quite high with more than ₹3,000 billion and has also earned a net profit of more than ₹5 billion for the FY-16.

Andhra Bank works with the motto of giving best of its services to its customers and hence designed all its products by keeping in mind the affordability of people as well. The bank has understood what a person would want when he/she comes to a bank with his/her hard-earned money in their hands. The bank has managed to make a perfect balance giving and taking. The reason behind this is that Andhra Bank has not hidden anything from its customers and maybe that became the key factor in its success. The approach of touching the hearts of the customers with their products made Andhra Bank one of the most demanding banks of all. Having said that, some of the most demanding products of the bank are loans and investment products. In addition to this, home loans, personal loans, car loans, gold loans, educational loans, etc. are some of the most affordable loans in India that are available at an attractive rate of interest and flexible repayment options.

With the purpose of serving more and more people, Andhra Bank decided to spread its wings across the world. Yes, the bank is operational in USA and UAE as well and there also has won the hearts of the people. Focusing on the national branches, the bank has its headquarter in Hyderabad and has more than 3000 branches including Agra. Now, you can imagine the number of the customers associated with the bank, yes the number is in millions. Here in this article, you can know the details of the car loan related information like eligibility criteria, documentation and the branch addresses of Andhra Bank in Agra so have a look.

Andhra Bank Car Loan in Agra at a Glance

Interest Rate7.80% - 7.90%
Loan amountDepending on the income flow and repayment capacity of an individual
Tenure60 months (used cars)-84 months (new cars)
Processing FeeAs applicable by the bank
Pre- payment charges1% on the balance outstanding at the time of prepayment

Eligibility Criteria

Have a look at the eligibility criteria to apply for a car loan at Andhra Bank in Agra. Having said that, the eligibility criterion is subject to change from one applicant to another and here at Andhra Bank, the eligibility for a general applicant and a women applicant is different. So, have a look at the details below:

For General

  • An individual having a minimum gross income of ₹1 lakh per annum
  • Corporate customers of the Bank
  • Eligible amount is worked out based on the repayment capacity and maximum permissible EMI should not be more than 60% of net salary in case of salaried people and 70% in case of Non-salaried class
  • Used Cars: (not more than three years old): 60% of garage value or ₹25,00,000/- whichever is lower
  • The maximum loan amount for a new vehicle is 90% on road price which includes invoice price, Life tax, Registration charges, Insurance, and accessories, if any, worth ₹5,000 /- or 3 years gross salary whichever is lower.

For Women

  • Salaried women (permanently employed)/ professional and self-employed having income proof
  • Women borrower should have a valid driving license in their name
  • Salary of the applicant is to be routed through Andhra Bank
  • Letter of Undertaking from the employer for recovery
  • Post-dated Cheque at the discretion of the manager as a special case
  • P&SE Woman: Post dated cheques to be obtained
  • Income should be more than ₹1,00,000/- p.a.
  • 50% of the co applicant’s salary will be taken for computing eligibility

For Corporate clients and firms

  • Limited Companies
  • Firms
  • Societies and Trusts
  • The maximum loan amount is offered depending upon the dealings with the Bank
  • Hypothecation charge is to be registered in Registration Certificate of the vehicle in favor of the bank and is exempted from registration of charge with ROC.

Documents Required

Here is the list of documents that you must carry if you want to apply for a car loan at Andhra Bank. Please note that the list of documents is different for a general candidate and a woman applicant.

For General

  • Documents for KYC Compliance
  • Valid Driving License
  • Salary Slip
  • Proforma Invoice
  • IT Returns
  • Assessment Order

For Women

  • Valid Driving License
  • Income Proof: IT Returns/Salary Slip/Assessment Order/Proforma Invoice
  • Valuation Certificate from Reputed Garage for Second Sale
  • Proof of Income- Salary Slip/IT Returns/Assessment Order, Proforma Invoice.
  • Valuation certificate from a reputed garage for a second sale.

For more information, read Car Loan Agra

Address of Andhra Bank Branches in Agra

Branch NameAddressIFSC CodeMICRContact details
AgraA-6, Shopping Arcade, Taj Road, Sadar Bazar, Agra - 282001 Uttar PradeshANDB0000707282011002NA
Civil Lines Agra1/174, Parinay Kunj, Bagh Farzana, Civil Lines, Agra
Civil Lines - Agra , Uttar Pradesh
Taj Nagari30 17 G Hotel Anand Plaza P2 Taj Nagari Fatehbad Road Agra - 282001
Uttar Pradesh

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