Andhra Bank Car Loan in Jammu
Last Updated : May 26, 2017, 11:35 a.m.
About Andhra Bank Car Loan Jammu
Andhra Bank is one of the best car loan providers in Jammu-the heaven of earth. With the combination of lower interest rates and a higher loan amount, this car loan scheme of Andhra Bank helps you in buying your dream car. Read this article to know the branch contact details, eligibility criteria and documentation required to apply at Andhra Bank.
Andhra Bank Car Loan in Jammu at a Glance
| Particulars | Details |
|---|---|
| Interest Rate | 7.80% - 7.90% |
| 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 |
Eligibility Criteria
Have a look at the eligibility criteria to apply for a car loan at Andhra Bank in Jammu. Having said that, the eligibility criterion is subject to change from one applicant to another and here at Andhra Bank, the eligibility for an applicant is as given below:
- Any 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 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
Documents Required
Here is the list of documents that you must carry if you want to apply for a car loan at Andhra Bank.
- Documents for KYC Compliance
- Valid Driving License
- Passport size photos
- Loan application form
- Salary Slip
- Proforma Invoice
- IT Returns
- Assessment Order
- Valuation certificate from a reputed garage for a second sale (for women)
For more information, read Car Loan Jammu
Address of Andhra Bank Branches in Jammu
| Branch Name | Complete Address | IFSC | MICR | Customer Care |
|---|---|---|---|---|
| Jammu | 3 - 4, K.C. Plaza, Commercial Complex, Residency Road, Jammu - 180001 | ANDB0001220 | 180011002 | 0191-2566767 |
| Bari Brahmana | H.No.130, Ward No.6, National High Way, Bari Brahmana, Jammu Dt | ANDB0002054 | 8492879995 | |
| Kathua | Moon Light Complex, Main Bazar, Kathua Dist, Jammu Kashmir, 184101 | ANDB0002568 | 2681055 | |
| Gurunanak Nagar | Gurunanak Nagar, H No 43 2 4, Near Khaisa Chowk, Jammu Kashmir, 180004 | ANDB0002673 | 180011004 | 9086032375 |