Car Loan Rates EMI 2018 124 views
Table of Contents
- 1 About Andhra Bank Car Loan Guwahati
- 2 Andhra Bank Car Loan in Guwahati at a Glance
About Andhra Bank Car Loan Guwahati
In India, there are more than 20 nationalized banks and Andhra Bank is one of the oldest and largest out of them. Having more than 90 years of experience in the banking and financial service providing industry, Andhra Bank has a reached a level where it needs no introduction. However, what makes this bank different from others is its approach to its customers. Andhra Bank believes in customer-friendly services no matter how much a person is earning, he will always choose the offer that can save him the most.
Talking about the products offered by Andhra Bank, the list includes home loans, car loans, personal loans, business loans, etc. but the car loan scheme is one of its kind. What makes the car loan scheme of Andhra Bank unique is its lower rate of interest facility along with the commitment of giving a higher loan amount. Getting your dream car is an amazing feeling for the ones who can’t afford it would always look for the option that can help them make their dream come true without harming their pockets.
Andhra Bank has understood that to fulfill the dream of more and more people, it will have to reach the masses. So, in order to serve the best deal to the people, Andhra Bank has its branches in all the major parts of the country and Guwahati is one of them. The beautiful city of Assam is not only popular for IIT-Guwahati, but there are also many IT companies and hence the strength of working professionals. So, all those people who are living in Guwahati and looking for a car so that the traveling from office to work and vice-versa is convenient. Hence, if you also have eyes on a car, get a car loan from Andhra Bank and start a beautiful journey on road! In this article, you will get to know the detailed information about the car loan scheme of Andhra Bank, the eligibility criteria, documentation required, and branch contact details to start the procedure.
Andhra Bank Car Loan in Guwahati at a Glance
|Loan amount||Depending on the income flow and repayment capacity of an individual|
|Tenure||60 months (used cars)-84 months (new cars)|
|Processing Fee||As applicable by the bank|
|Pre- payment charges||1% on the balance outstanding at the time of prepayment|
Have a look at the eligibility criteria to apply for a car loan at Andhra Bank in Guwahati. 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:
- 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.
- 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
- Societies and Trusts
- The maximum loan amount is calculated 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.
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.
- Documents for KYC Compliance
- Valid Driving License
- Salary Slip
- Proforma Invoice
- IT Returns
- Assessment Order
- 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 Guwahati
Address of Andhra Bank Branches in Guwahati
|Branch Name||Complete Address||IFSC||MICR||Customer Care|
|Guwahati||In front of Police Reserve, A.T.Road, Guwahati - 781001||ANDB0000595||781011002||0361-2540842/2547909|
|Dispur||1st Floor, Harihar Enclave Christian Bastigs Road Guwahati 781005||ANDB0001635||781011003||0361-2343849|
|Beltola||Megha Plaza, Ground Floor, Bashistha Chariali, Guwahati - 781029||ANDB0001899||781011005||0361-2309982|