Andhra Bank Personal Loan Interest Rates

Salaried Self-Employed
Interest Rate For loans up to 36 months: MCLR (1 year) + 4.40 % = 13.85% p.a. For loans above 36 months: MCLR (1 year) + 5.40 + 0.25 % = 15.1% p.a. For loans up to 36 months: MCLR (1 year) + 4.40 % = 13.85% p.a. For loans above 36 months: MCLR (1 year) + 5.40 + 0.25 % = 15.1% p.a.
Loan Amount For salaried applicant: Each instalment not less than 40% of gross salary. For Pensioners: 8 times of monthly pension not amounting to more than Rs.5 lakh. For income tax assesses: 2 times the average renewal commission for the previous 3 years, to a maximum of Rs.2 lakh. For those who are not income tax assesses: 50% of average renewal commission based on statement of income for the previous 3 years, to a maximum of Rs.2 lakh. Twice the average annual income of the last 3 years shown in IT returns.
Loan Tenure Maximum of 60 months, with a moratorium period of 1 year. Maximum of 60 months, with a moratorium period of 1 year.
Lowest EMI - -
Processing Fee Yes, nominal Yes, nominal
Prepayment/Foreclosure Charges No charge No charge
Foreclosure Charges No charge No charge