Andhra Bank is a medium-sized public sector bank founded on November 20, 1923. It is Headquartered in Hyderabad. This banks deal with various financial products like consumer banking, loans, insurance, private banking and many more. In the category of loan, the bank provides Personal Loan, Gold Loan, Car Loan, Two Wheeler Loan, Business Loan, Home Loan andEducation Loan. In the case of financial problems people usually prefer to take a Personal Loan. Also, the bank does not put any end-use restriction on the use of the loan amount.

Personal Loan

A personal loan is a kind of loan where you borrow money from the bank at some rate of interest for some period of time. A personal loan can be used to fulfill your personal needs. It can be related to anything, the bank is not going to ask you the reason to get the loan.

Andhra Bank Personal Loan

Not everyone can get a personal loan. there are some criteria on the basis of them the bank provide a personal loan to the applicants. Let us discuss them.

There are two categories of the applicants.

  1. Salaried
  2. Self-employed

There are different criteria for both categories. Let us see both of them one by one.

Salaried Applicant

  1. First of all the age of the applicant should be more than 21 years.
  2. After that he/she should be earning Rs. 18000 per month at least.
  3. After that, the applicant should have the work experience of 3 years at least.
  4. After that he/she should be getting the salary in his/her bank account.
  5. The credit history of the applicant should be good.

Self-employed Applicant

  1. If the applicant is self-employed than his/her age should be 25 years at least.
  2. He/she should be filing ITR for last three years at least.
  3. His/her CIBIL score should be good.
  4. The ITR should be of Rs. 2.5 Lakhs per annum at least. And ITR of 3 years is required.

Andhra Bank Personal Loan Uses

  1.  A wedding can be a reason to get a personal loan. In Indian culture, the wedding is the most important and memorable day. So you get help by getting a personal loan.
  2. Though most of the banks don’t provide you with a car loan to buy a second-hand car, so people prefer to get a personal loan to get help.
  3. After that paying, the pending credit cards bills and medical expenses can be a reason to get the personal loan.
  4. In India agriculture is the alimony for most of the people so they can get help to do some improvements by getting the personal loan.
  5. Everybody wants to their home a dream home, for this reason too people get the personal loan.
  6. Sometimes financial problems come in the way of getting higher education or sending your child for higher education, you can overcome this problem by getting a personal loan.

Andhra Bank Personal Loan Documentation

To avail a Personal Loan, you will need to provide the following documents

Document

Salary of individuals

Professionals

Businessmen

2 photograph

Yes

Yes

Yes

Details of Identity

Yes

Yes

Yes

Details of Residence

Yes

Yes

Yes

Signature verification from the bank

Yes

Yes

Yes

Certificate of Degree & Certificate of practice

No

Yes

No

Details of Income

Form 16 and Latest pay slip (Form 16 required only when applying under holiday finance)

Balance Sheet and IT returns P/L statement of account for the last 2 years

IT Returns and Balance Sheet & P/L statement of Account for the last 2 years

Statements of bank account

On last 3 months

On last 6 months

In the last 6 months

 

 

Andhra Bank Personal Loan Benefits

  1. A personal loan can be taken for different needs. If you need finance, you can borrow from financial institutions. There are different rules and criteria to get a personal loan. One must check its eligibility for getting loan amount. Personal loans are multipurpose finance options. There are various benefits of taking a personal loan online. You can avail a good deal by comparing offers and finalizing the best one as per your needs. Here are some benefits of personal loan:
  2. A Loan without any collateral or security: A Personal Loan is not a secured loan. Banks don’t ask for any security or collateral. So, there is no need of pledging collateral or security. It is purely given as per the customers' income.
  3. Simple Documentation: Personal Loans are simple and easy. You can get it with minimum documentation with a quick process. Banks need some basic documents of a borrower like identity proof, address proof, income proof, etc.
  4. Loan Amount: The amount can be ranging from Rs. 50,000 to Rs. 20 lakh.
  5. Quick Loan Approval: It is easily sanctioned within 48-72 hours without any hassle. After getting the documents, banks will do the verification of the given details and the loan will get disbursed within 24 hours of verification.
  6. Multipurpose finance: Personal loan can be used for various purposes i.e. in paying old bills, home improvements, wedding shopping, financing trips and many more.
  7. No Third party involvement: The loan is directly given to the borrower without the involvement of the third party. It is a relationship between the borrower and the lender.
  8. Hassle free: Getting a personal loan is now a hassle-free process. Online loan portals have made it more convenient and easy. You can get the loan amount in your account without stepping out of your place.

Quantum of Finance (Maximum amount of loan that can be sanctioned)

10-month gross salary in case of salaried class or cost of the article whichever is less.

4 months pension in case of pensioners.

40% of the annual income in case of other persons.

Andhra Bank Personal Loan Repayment:

Repayable in monthly installments. Maximum period not to exceed 60 months and it is 6 months minimum.

Co-obligation:

Husband/ father or any third party (with sufficient worth and of regular income) acceptable to the bank. Where the applicant is unwilling or unable to furnish suitable co-obligation, liquid collateral security is insisted upon.

How to Apply?

  1. You can apply for Andhra Bank personal loan online on the website of Dialabank.
  2. First of all visit www.dialabank.com on google.
  3. After that fill the online application form for Andhra Bank personal loan.
  4. Fill your basic information with your name, contact number, and valid e-mail account.
  5. You will get a call back in no time.
  6. After that, you will be guided by the relationship managers completely.

Why Dialabank?

  1. This is the most reliable and oldest platform to apply for a personal loan.
  2. Dialabank is India’s first financial helpline company.
  3. You will get proper, complete and worthy information from the experts.
  4. You are not charged a single rupee for the information, even there are no charges to applying for the loan too.
  5. Furthermore, there is no need to go here and there you will get all the information about the rate of interest, your eligibility, your EMI’s and the interest rate on a single place.
  6. If your loan gets approved by the Dialabank you will get a document pickup facility from your doorstep too there is no need to hassle and to go to the bank to submit the documents.
  7. You can also compare the rates of interest with other banks and also check your offers.
  8. Besides this, the rates of interest are quite low.
  9. Your loan will get approved and disbursed very easily and quickly if you are eligible.
  10. Furthermore, you can call on 60011600 for more information.

Who isn’t eligible?

  1.  A salaried person earning less than Rs. 18000.
  2. A self-employed person who is not paying the ITR or pays less than Rs. 2.5 Lakhs.
  3. An applicant whose age is less than 21 years.
  4. A person with CIBIL scores less than 700.

Special Note: We do not provide Personal Loan to bad credit holder, but you can fulfill your money requirement with Gold Loan easily.

 

 

REMINDER SERVICES EMI CALCULATOR

PERSONAL LOAN INTEREST RATES

Reminder Services EMI Calculator Personal Loan Interest Rates

 

Disclaimer: The information provided on www.dialabank.com is collected from public sources and is believed to be accurate and genuine. This site should be used as an information provider for different product offerings of Insurance companies and the visitor should make an independent verification with the Insurance companies to verify the claims made in the policy before making any purchase. The decision to Apply and/or Purchase a policy is at the sole and complete discretion of the website visitor and Dialabank.com cannot guarantee or can be held liable for loss or damage caused by claims made by insurance companies through their agents, partners, products or services, directly or indirectly.