Car Loan Rates EMI 2024
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
| 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 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 Name | Complete Address | IFSC | MICR | Customer Care |
|---|---|---|---|---|
| Ernakulam | P.B.No.14, Ajayvihar, Ernakulam - 682001 | ANDB0000125 | 682011001 | 0484-237592 |
| Vyttila | Matha Building, Nh 47, Bye - Pass Road Thykoodam, Vyttila, Kochi -682019 | ANDB0001350 | 682011003 | 0484-2305666 |
| Kadavanthara | Savitri Building, S C Bose Road, Jawahar Nagar, Kadavanthara, Kochi | ANDB0002271 | 682011084 | 2207877 |
| ZO Kochi | Savithri Building, Sc Bose Road, Jawahar Nagar, Kadavanthara, 682020 | ANDB0002273 | 2207377 | |
| Njarakal | Lakshmi Arcade, Lakshmi Vihar Kaipillil, Nayaram Balam, Po Kochi, 682509 | ANDB0002451 | 682011006 | 2207777 |
| Kakkanad | D No 10 766, Chakkolath, Vsnl Road, Kakkanad, Kochi, 682030 | ANDB0002662 | 2207777 |