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Andhra Bank Car Loan in Kochi

Andhra Bank Car Loan in Kochi

Last Updated : March 24, 2017, 2:58 p.m.

About Andhra Bank Car Loan Kochi

Andhra Bank gives you the opportunity to get an affordable car loan in Kochi. Now you can get your dream car home and pay lower EMIs at the tenure of your choice. Read this article to know the car loan detail, eligibility criteria, documents required and bank contact details of Andhra Bank branch in Kochi.

Andhra Bank Car Loan in Kochi 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 Kochi. 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 Kochi

Address of Andhra Bank Branches in Kochi

Branch NameComplete AddressIFSCMICRCustomer Care
ErnakulamP.B.No.14, Ajayvihar, Ernakulam - 682001ANDB00001256820110010484-237592
VyttilaMatha Building, Nh 47, Bye - Pass Road Thykoodam, Vyttila, Kochi -682019ANDB00013506820110030484-2305666
KadavantharaSavitri Building, S C Bose Road, Jawahar Nagar, Kadavanthara, KochiANDB00022716820110842207877
ZO KochiSavithri Building, Sc Bose Road, Jawahar Nagar, Kadavanthara, 682020ANDB00022732207377
NjarakalLakshmi Arcade, Lakshmi Vihar Kaipillil, Nayaram Balam, Po Kochi, 682509ANDB00024516820110062207777
KakkanadD No 10 766, Chakkolath, Vsnl Road, Kakkanad, Kochi, 682030ANDB00026622207777

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