Andhra Bank Car Loan in Mumbai

About Andhra Bank Car Loan Mumbai

Andhra Bank has been in the banking industry since 1923 and presently has more than 3000 branches across the country. The bank has the experience of what a borrower wants when it comes to loans. Having said that, the car loan scheme of Andhra Bank is one of the most affordable loans in Mumbai. Read this article to know more.

Andhra Bank Car Loan in Mumbai at a Glance

ParticularsDetails
Interest Rate

9.20%

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 Mumbai. 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 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.

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 Mumbai

Andhra Bank Mumbai Branch Details

Branch NameComplete AddressIFSCMICRCustomer Care
AndheriSaurabh - 116 Andheri Kurla Road, Andheri(East) - Mumbai - 400059ANDB0000028400011002
Mumbai Fort18, Homi Modi Street, Nanavati Mahalaya, Fort, Mumbai - 400023ANDB000005140001100522026088
Chembur70 J, Central Avenue Road, Chembur(East), Mumbai - 400071ANDB0000092400011004022-25280383,
Ghatkopar (West)8A, Akashdeep Building, Damodar Park, Lbs Marg, Ghatkopar(West), Mumbai - 400086ANDB0000238400011011022-25003951
MatungaBhaudaji Road, Matunga (East) , Mumbai 400019ANDB0000364400011007022-24024232
Opera House9 / 15 Mama Paramanand Marg, Opera House, 400004ANDB00004024000110092369778
Ghatkopar East36, Kumudini, 1Th Road, Rajawadi, Ghatkopar East, Mumbai - 400077ANDB0000588400011015022-25132434, 251
Juhu Ville - Parle46, Supreme Shopping Centre, Jvpd Scheme, Ville - Parle, Mumbai - 400053ANDB0000593400011014022-26238686
VashiPlot No. 74, Persipolis, Sector 17, Vashi, New BombayANDB0000627400011013278987
BorivilliKarmayog, 1St Floor, Mahadev Desai Road, Borivilli (E), Mumbai - 400066ANDB0000747400011003022 28059702
MulundYogeshwar Dham, M.G.Road, Mulund (West), Mumbai - 400080ANDB0000845400011008022-25616909/2590
MahimSaras Apartment, Flat 771, Tps Iii, Mori Road, Mahim, Mumbai - 400016ANDB0000856400011006022-24461257
Nariman Point, Mumbai33 Atlanta Bldg. Nariman Point, Mumbai - 400021ANDB0001128400011016022-22885846/4
PrabhadeviShop No.16, Appa Sahaeb Marathe Marg, Prabhadevi, Mumbai - 400025ANDB0001138400011018022 - 24381165
BandraShiva Apartments, 22 - Turner Road, Bandra West, Mumbai - 400050ANDB00011394000110170022-2644
Kandivali (East)No, 1, 2, 3 Neptue, Evershine Millenium Paradise, Kandivili (East), Mumbai- 400101 ANDB0001210400011019022-28843382
RTGS BranchBansilal Building, Fort, MumbaiANDB0001250400011502
Santa CruzShop No.6, Lovely Home, Kalina Kurla Road, Santacruz, Mumbai - 400029ANDB0001283400011021022-26653677
Nerul1St Floor, Shelter Arcade, Plot No.26, Sector - 42 Nerul, Navi Mumbai - 400706ANDB0001391400011024022-27719157

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