Andhra Bank Personal Loan
Andhra Bank Personal Loan helps customers meet their various monetary requirements like medical emergency, debt consolidation, etc. Furthermore, The Bank is committed to easy documentation as well as fast allotment helping customers to avail a lot of services making their life easier by being better at finance management.
Also, anyone looking for fast and straightforward disposal of Personal loan may apply with Andhra Bank of India by checking in all the documentation and suitable requirements.
Why opt for Andhra Bank Personal Loan
Uniquely, Andhra Bank grants you Personal loan starting at Rs.50000 upto Rs5 lacs depending on the client’s financial power, credit score, and professional background.
Furthermore, customers can benefit the Personal loan without much tension, and they can have their request permitted inside four working hours.
Andhra Bank requires very less documentation for the approval of the Loan, and the loan process is very speedy.
Also, no Guarantor or Cosigner is required to avail the Loan.
Eligibility
Salaried
Profession: The person should be working in a government, private or MNC Company.
Eligible Age: The Minimum age to apply for a Personal Loan is 18 years.
Self-Employed
Eligible Age: The Minimum age to apply for a Personal Loan is 18 years.
Profession: The Person should be professionals like Doctors, CA, CS, Architects, Lawyer, or, doing his own business.
The customer has to be a citizen of India.
The borrower must possess an updated Aadhaar ID.
The customer should hold an active bank account that has an internet banking facility.
Interest rate
Interest rates start from 10.99% and vary according to the following reasons;
Profile of Customers
Tenure of the Loan
Geography of residence
Nature of Collateral (If provided)
Prior/Existing relationship with the Bank.
Documents Required for Andhra Bank Personal Loan
Salaried
Identity Proof: Adhar Card, Passport, Voter ID card or Driving License
Address proof: Ration card, Passport, rent agreement, electricity/water bill.
Last six months Bank statement & 3 months’ salary slip
Latest form 16
PAN card
Self-Employed
Identity Proof: Adhar Card, Passport, Voter ID card or Driving License
Address proof: Ration card, Passport, rent agreement, electricity/water bill.
Equally, important are last six months Bank statements.
Likewise, Latest ITR along with computation of income along with P/L audited by certified CA for the previous two years.
Tenure
As a matter of fact, Tenure is the period for which you get the Loan; here it is for one to three years.
About Andhra Bank
Andhra Bank is a mid-size public sector bank of India, with a network of around 2885 branches, 4 extension counters, 38 satellite offices and 3798 ATM’s according to last study on 31 March 2019. During 2011–12, the bank broke into the hilly states of Tripura and Himachal Pradesh. The bank now functions in 25 states and 3 Union Territories. Andhra Bank is located in Hyderabad, Telangana, India. The Government of India owns about 90.85% of its shares as on 31 March 2019. The state owned Life Insurance Corporation of Indiaholds 7.66% of the shares. The bank has earned a total business of 3,106 billion and has earned a net profit of ₹5.40 billion for the Fiscal Year 2015-16.
FAQs (Frequently Asked Questions)
Q1. Why should I take a personal loan from Andhra Bank?
Ans. Andhra Bank Personal Loan per gram allows you to know an Andhra Bank offers consumer loans under its bouquet of personal loans
Q 2. What interest is charged Andhra Bank Personal Loan?
Ans. 10.99% is the minimum interest rate charged by the Bank.
Q 4. What is the tenure?
Ans: The tenure of Personal loan is 12-60 months.
Q 5. What amount Personal loan amount I can borrow?
Ans: Comaparatively, The applicant can get a loan amount of Rs. 50000 to 500000 at maximum for three year.
Q 6. How much does the Bank charge a processing fee?
Ans: The processing fee charged is 1% for gst.
Q 7. Is age an eligibility criterion in getting a Personal loan?
Ans: Yes, age is a factor to apply for a Personal loan. The minimum age of the applicant should be 18-55 years.
Q 8. Do prepayment charge on a Personal loan from Andhra Bank apply?
Ans: The pre-closure charges are 0.