Andhra Bank Loan Against Property

About Andhra Bank Loan Against Property

Days have gone when only getting a loan within a short span of time was not everyone’s cup of tea. Whenever we hear the name ‘loan’, high-interest rates and processing fees scare us. However, when you are taking a loan against property from Andhra Bank, things are quite different.

Andhra Bank loan against property is one such loan that grants you a mortgage loan at less interest rate and processing fees. The interest rates applicable on loan against property offered by Andhra Bank starts from 1o.45% to 10.95% per annum depending upon the loan scheme you choose with tenure of up to 15 months.

Loan Against Property

    Personal Details

    Andhra Bank Loan Against Property Details

    ParticularsDetails
    Interest Rates

    10.80% - 11.40%
    Loan Amount
    Minimum- ₹2,00,000/-
    Maximum - ₹4,000,000,000
    Tenure
    15 months
    Processing Fee
    1% of the limit + Tax
    Minimum: ₹1,000, Maximum: ₹25,000+GST

    How to Apply  

    To get Andhra Bank loan against property, you have to submit all the documents at the nearest bank branch as per the eligibility criteria along with the filled loan application form.

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    Andhra Bank Mortgage Loan EMI Calculator

    The moment you think about taking a loan, you are curious to know what will be the monthly installments that you will have to pay to your lender. When it comes to loans, a person would see how much monthly he/she will have to keep aside out of the monthly income so that the ongoing financial expenses are not hampered. EMI calculators play a vital role in helping people in planning their monthly budget in advance.

    An EMI calculator works on the basis of the loan amount, interest rate and tenure period. The calculator lets you know all these details and makes it easier for you to plan accordingly. Here is an example for you for better understanding.

    Table for EMI per month, Total Interest Outgo, and Total Amount

    Table Showing EMI, Interest Outgo, and Total Repayment Amount

    Loan AmountInterest RateTenureMonthly InstalmentTotal Interest AmountTotal Amount

    EMI, Total Interest Outgo, Total Repayment (Interest + Principal)

    YearPrincipalInterestBalance Amount

    Eligibility Criteria

    • Salaried individuals
    • Pensioners
    • Professionals
    • Self-employed
    • Individuals engaged in Agriculture and Allied activities and others
    • NRIs having a regular job abroad in an Indian/foreign company, organization or government department
    • Partnership firms, limited companies, and LLPs
    • Trusts/Societies are not eligible
    • Age between 21 years to 65 years

    Documents Required

    • Loan application form
    • Identity proof (PAN Card/Driving License/Voter ID/Adhaar Card, etc.)
    • Address proof (Driving License/Voter ID/Adhaar Card/Ration card, etc.)
    • Income proof
    • Salary slip
    • Bank statements
    • Property details

    Andhra Bank Mortgage Loan Application Form

    The details that are mandatory to be filled in the application form are as follows:

    • Applicant’s name
    • Permanent Address
    • Date of Birth
    • Monthly/Annual Income Details
    • Business Details
    • Purpose of the loan
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    Andhra Bank Loan Against Property Interest Rates

    The interest rates applicable to the mortgage loan are:

    • For tenure up to 36 months-MCLR+1.90%
    • For tenure above 36 months up to 60 months-MCLR+1.90%+0.25%
    • For tenure above 60 months-MCLR+1.90%+0.50%

    Features & Benefits of Andhra Bank Loan Against Property

    Some of the main features & benefits of taking a mortgage loan from Andhra Bank are:

    • Higher loan amount
    • Attractive interest rates
    • Flexible tenure
    • Low processing fee
    • Overdraft facility to existing housing loan borrowers
    • Margin of 50% of realisable market value of the property for Overdraft
    • Margin of 40% of realisable market value of the property for Term Loan

    Personal Loan Interest Rates October 2018
    Bajaj Finserv10.99% - 16.00%
    Fullerton India14.00% - 33.00%
    HDFC Bank11.25% - 21.50%
    ICICI Bank10.99% - 18.40%
    IndusInd Bank10.99% - 16.00%
    Kotak Bank10.99% - 20.99%
    RBL13.00% - 18.00%
    Standard Chartered Bank11.50% - 14.50%
    Tata Capital10.99% - 18.00%
    Home Loan Interest Rates October 2018
    State Bank of India/SBI8.70% - 9.25%
    HDFC8.80% - 9.60%
    Bank of Baroda8.55% - 9.55%
    LIC Housing8.70% - 9.05%
    PNB Housing Finance9.00% - 13.00%
    ICICI Bank8.85% - 9.10%
    Axis Bank8.80% - 9.05%
    Citibank8.90% - 9.65%
    Indiabulls Housing Finance Limited8.80% - 11.05%
    Kotak Bank8.75%
    DHFL9.05% - 9.95%
    Reliance Home Finance8.75% - 10.00%
    EMI Calculator