Andhra Bank Home Loan Pune - Rates March 2024, IFSC, Eligibility, EMI

Andhra Bank Home Loan in Pune

About Andhra Bank Home Loan Pune

Pune is one of the most beautiful and budget-friendly places to live in Maharashtra. The city holds so calm and full of facilities at the same time. From the IT hub to the beautiful residential society, you can experience everything in Pune. Having said that, an affordable home loan helps people buy their home without worrying about the money. Thus, in serving people a budget home loan, Andhra Bank has won the hearts of many. If you are also looking for the same, have a look at the interest rates on home loans by the bank in Pune.

Andhra Bank Home Loan in Pune at a Glance

Interest Rate8.60% - 11.20%
Loan amountMinimum margin 10% for limits up to ₹30 lakhs, 20% for limits over ₹30 lakhs to ₹75 lakhs and 25% for limits more than ₹75lakhs.
TenureUp to 30 years
Processing Fee0.50% of the loan amount plus applicable tax
Prepayment FeeNIL in case of floating rate of interest

Eligibility Criteria

The eligibility criteria to apply for a home loan at Andhra Bank is:

  • The age of the applicant must be between 21-65 years
  • The maximum age on the due date should not be more than 75 years
  • Individuals either singly or jointly with family members are eligible to apply
  • Home loan can be taken for construction or purchase of house/flat
  • You must have a good source of income

For purchase of plot:

  • The plot is to be situated in residential areas within Municipal/Corporation limits in Metro, Urban, and Semi Urban areas
  • Finance shall also be considered for purchase of sites offered for sale by state-owned agencies like Housing Boards, etc. in Metro, Urban and Semi Urban areas
  • The construction has to be commenced within 12 months from the date of the first disbursement of the loan for the purchase of property and the construction thereon should be completed within 30 months from the date of disbursement of the first installment of loan for the purchase of plot.
  • Assessment of eligible amount of loan is based on the repayment capacity for both the components of loan i.e., for plot and construction together

For repairs and renovation:

  • Up to 5 years of the age of the property can get maximum loan up to ₹10 lakhs
  • Above 5 years and up to 25 years old property can get up to ₹15 lakhs

Documents Required

Have a look at the list of documents that an applicant must have to apply for a home loan or a housing loan at Andhra Bank:

  • Loan application form
  • ID Proof & Address Proof of applicant, co-applicants, and co-obligators
  • Income proof of applicant, co-applicants, and co-obligators
    • Employees: Last pay certificate, Form 16 issued by the employer, Undertaking letters from the employer
    • Agriculturalist: Income certificate by competent Revenue Authority in respect of income from agricultural and allied activities, Documentary proof of holding the property
    • Businessmen/Professional/Self-employed: Last 3 years income proof supported by financial statements signed by Chartered Accountants/IT Returns/Assessment Orders
  • Property statement of applicant, co-applicants, and co-obligators
  • Letter for recovery of the loan installments debited from the account
  • A letter from the applicant in the format as asked by Andhra Bank and an irrevocable letter of undertaking from the employer
  • Post Dated cheques of at least 12 months
  • Last 6 months bank account statement
  • A letter from the applicant with the declaration of not having similar loan with any other branch of Andhra Bank or any other bank
  • Verification report from outsourcing agencies/Branch official
  • Credit information report from CIBIL
  • Declaration for giving information to CIBIL
  • Credit Investigation/Due Diligence/Pre-sanction verification report
  • Certification of Inspection of Security
  • Letter of authority to pay the installments to the builder basing on the progress of the work
  • Copy/Original deeds of the sight
  • Original deed of conveyance of land, conveying the individual/proportionate share of the land along with agreement for construction
  • Copy of the document evidencing the title of the Vendor to the property sold tracing the title for the last 13 years
  • Copy of NIL Encumbrance Certificate on the Immovable property proposed to be purchased or to be constructed covering immediate preceding 13 years to the date of application for housing loan
  • Plan of the house/flat or apartment duly approved by the competent authority
    Location sketch of proposed house/flat
  • No objection certificate from the Urban Land Ceiling Authority for mortgaging the immovable property to bank in case of the location of the said party proposed to be purchased or constructed attracts the Urban Land Ceiling Act
  • A declaration from the applicant indicating his financial resources for meeting the margin money/differential in the total cost of the plot/site/house/flat or apartment
  • Legal opinion and any other document stipulated by Legal Advisor/Sanctioning Authority
  • Legal Audit wherever applicable
  • Undertaking letter to adjust residual amount of money

Additional Documents in case of construction of House

  • Detailed estimate of the proposed construction by the approved engineer of Andhra Bank

Additional Documents incase of outright purchase of buildup House/Flat

  • Allotment of the House/Flat issued by the Housing Board
  • Agreement of sale between vendor and purchaser with the name and address of the Vendor and purchaser
  • Copies of prior documents of title of the property in possession of the vendor along with tax receipts
  • Copy of the approved plan and a letter from the vendor about the age of the house/flat
  • Detailed estimate of the cost of the house in case of direct purchase of built up house by the approved engineer of the bank specifying the age and condition of the house/flat
  • Managers certificate for valuation of the property
    Certificate from the approved engineer about the present value, condition, and cost of the house/flat
  • Development agreement between the owner of the site and the builder
  • Original payment receipts provided by the vendor/builder
  • Receipt of delivery issued by Registrar of assurance to deliver the original title deeds

You can also read Home Loan Pune

Andhra Bank Pune Branches

Branch NameComplete AddressIFSCMICRCustomer Care
Pune601, Sanchar Street Camp, Pune - 411001 MaharashtraANDB0000906411011002020-26131004, 26133950
PimpriPlot No.206, Near Umed Bhavan, Pimpri Station Road, Pimpri, Pune - 411018ANDB0001117411011003020-56114954/27425456
Shavajinagar1187/23, Srishna Kunj, Ghole Road, Shivajinagar, Pune - 411005ANDB0001152411011004020-25513124
VishrantwadiJai Ganesh Viswa, Vishrantwadi, Pune - 411015ANDB0001320411011005020-65102246
VimannagarShop No.11 - 15, Royal Tower, Air Force Road, Viman Nagar, Pune - 411014ANDB0001579411011006020-26630122
WagholiGat No.1420, Sahyadri Ware Housing Complex, Near Wagheswar Temple, Wagholi, Pune - 412207ANDB0001746411011007020-27052735
HadapsarG Floor, Shop No.2, 7, 8, Fortune Estate, Near Akashwani, Hadapsar, Pune-411028ANDB00021594110110088898689319
ZO PuneOffice No 103 104 1St Floor Stellar Enclave Aundh Pune 411007ANDB0002280020 25887730
BaramatiPlot No2, H No 87, Mahavir Hospital, Near Vasantrao Pawar, Natyagruh, Baramati, 413102ANDB00023164130111012228008
NigdiPlot No 65, Sector No 26, Nigdi Pradhikaran, Pune, 411044ANDB00025194110110119822419618
Ambegaon BranchGround Floor, Sno 56 2, Nest To Ambegaon Dhayari Road, Near Gaumukh, Ambegaon, Pune, 411046ANDB00025204110110109028198979
Talegoan DabhadeS No 4806, Prarang, Near Jijamata Chowk, Talegoan Dabhade, Pune, 410506ANDB000253041101100914225252
BavdhanS No 13 2, Plot No 3 And 4, Shopnp 6, Sukhwani Prestige, Bavdhan, Pune, 411021ANDB00025884110110128400001178
ChakanShop No 1 6 7 8 And 2, Business Square, Gat No 1638 And 1639, Chakan, Pune , 410501ANDB000261041101101325887750
AundhShop No S 1B, S 1C, Rohan Nilay, Sangavi Road, Aundh, Pune, 411007ANDB00026204110110147754027007
GhorpadiYashshree, Ground Floor, S No 69, Hissa No 2 2 2, B T Kawade Road, Ghorpudi, PuneANDB00026514110110159921536611
WakadShop No 2, G O Square, S No 249, 250, 251, Wakad, Pune, 411057ANDB00027239545595475
Sinhgad RoadShowroom No 1, 2, Sbi Supervising Officials Society, Sno B3B And B3E, Near Sane Guruji Samrak, Pune, 411030ANDB00029414110110178180003999
Pimple SaudagarSai Raj Regency, Ground Floor, A Wing, S No 64 1, Near Cng Petrol And Sai School, Pimple Saudagar, Pune, 411027ANDB00029844110110189049035931
KharadiShow Room No 1, Arissa Avenue, Near Union Bank, Kharadi, Pune, Maharashtra, 411014ANDB00029854110110199545283892
Karve NagarSuvidha House, Sno 25 1 B, Cts No 148, No 2, Kshipra Coop Housing Society, Vithal Road, Hingane Back, Pune, Maharashtra, 411052ANDB00029954110110207028920010

  • Home Loan Interest Rates March 2024
    Axis Bank8.75% - 9.15%
    Bank of Baroda8.50% - 10.60%
    Citibank8.75% - 9.15%
    HDFC8.50% - 9.40%
    ICICI Bank9.00% - 9.85%
    Indiabulls Housing Finance Limited8.65%
    Kotak Bank8.70%
    LIC Housing8.50% - 10.50%
    Piramal Capital & Housing Finance10.50%
    PNB Housing Finance8.50% - 10.95%
    Reliance Home Finance8.75% - 14.00%
    State Bank of India/SBI9.10% - 9.65%
    Tata Capital8.95% - 12.00%