Andhra Bank was originally founded in 1923 by a freedom fighter as well as a politician in Andhra Pradesh. This bank has currently over 2880+ branches in India with 3780+ ATMs. It is now merged with Union Bank of India.
In this post, I’ll cover the details on how to avail a personal loan from Andhra bank, its eligibility, features, contact details and many more.
Table of Contents
Loan Details
| Sl. No. | Category | Data |
|---|---|---|
| 1 | Loan amount | Up to 5 Lakhs |
| 2 | Tenure | Up to 60 months (5 years) |
| 3 | Interest rates | 8.9-13% |
| 4 | Age | Between 21-55 |
| 5 | Lowest EMIs | Rs 2,202 per Lakhs |
Steps to apply for Andhra bank personal loan
Step-1: Fill up the loan application form by entering true details
Step-2: Upload the necessary documents asked in the form
Step-3: The bank authority will verify all of them and will notify you further after a decision regarding loan approval has been made
Features of Andhra bank personal loan
- Less paperwork
- No foreclosure or pre-payment charge
- Loan tenure period is flexible (5 years)
- Attractive loan amount of 5 Lakhs
- Procedure is completed within 3 days or 72 hours
Types of Andhra bank personal loan
There are different types of personal loan at Andhra bank and they’re:
Andhra Clean loan
- To meet the credit needs for personal expense
- Offered to salaried, pensioners, and non-salaried people
- Loan amount varies as per applicant’s profile
Andhra Consumer loan
- To meet the purchase cost of home appliances or durables
- Offered to salaried, pensioners, and non-salaried people
- 5 Lakhs of loan is offered and is fixed
Andhra loan against KYC/LIC policy
- To meet any personal credit needs
- Given to them who have appropriate security adjustments
- Loan amount up to Rs 50,000 without a third-party guarantor is given
Eligibility criteria for Andhra bank personal loan
- Applicant’s should be of between 21 to 55 years of age
- Applicant must have a regular source of income
- Applicant must have a repayment capacity
Documents required for Andhra personal loan
The necessary documents required for applying at Andhra are as follows:
For Salaried
- Identity proof (Driving license/Aadhar card)
- Residential proof (Ration card/Passport)
- Income proof
- Income slips
- Credit information
- Bank statements
- ITRs
For Self-employed
- Identity proof (Driving license/Aadhar card)
- Residential proof (Ration card/Passport)
- Credit information
- Property statements
- Business continuation proof
- ITRs
Union Bank of India Personal loan for Government Employees
Union bank launched this scheme to help government employees to meet their personal expenses.
Eligibility Criteria and Policies
- Candidate Should be permanant employee working for central or state governement.
- Candidate should have maintain salary account with Union Bank for atleast 3 months.
- Entire loan amount should be repaid one year before retirement.
- Maximum repayment tenure is 5 years
- Processing fees 0.50% with minimum of Rs.500, plus service tax.
- Up to 10 Lakh personal loan will provided.
Comparison of Andhra bank personal loan with others
| Sl. No. | Bank Name | Loan amount | Interest rates | Processing charge (without GST) |
|---|---|---|---|---|
| 1 | ICICI | Up to 20 Lakhs | 11.5-19.25% | 2.25% |
| 2 | Bajaj Finserv | Up to 25 Lakhs | 12.99% | 3.99% |
| 3 | Axis | Up to 15 Lakhs | 10.25% | 2% |
| 4 | Deutsche | Up to 15 Lakhs | 9.99-11.49% | 2% |
| 5 | Canara | Up to 3 Lakhs | 11.25-13.9% | 0.5% |
Check Status
You can easily track your loan status at Andhra by clicking the following button:
Contact Details
Toll-free number: 1800-425-1515
Telephone numbers: 040-23234313, 23252000; Extension: 2422, 2577
Fax number: 23232419
Mail-id: customerser@andhrabank.co.in
Official website: Visit Now!
FAQs
1]. How soon can I get personal loan from Andhra?
You can get instant loan within 72 hours of your application.
2]. Can I pre-pay my personal loan at Andhra?
Yes, you can pre-pay your loan amount but before the defined deadlines.
3]. Are there any foreclosure charges for personal loan at Andhra bank?
No, the bank do not charge for foreclosure fees.
4]. Where to apply for personal loan at Andhra bank?
You can visit any nearer branch or you can also apply online for your personal loan.
5]. In what time, my loan amount gets disbursed into my account?
Within 3 to 7 days, your loan amount will be transferred to your bank account.
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