About Andhra Bank

Andhra Bank is a medium-sized public sector bank which was founded by freedom fighter and a multifaceted genius, Dr. Bhogaraju Pattabhi Sitaramayya. Also, The Bank was registered on 20th November 1923 and commenced business on 28th November 1923.  Furthermore, It has 1938 branches, 15 extension counters, 38 satellite offices and 1098 automated teller machines (ATMs) as on 31 March 2012. The bank now operates in 25 states and three Union Territories.

About Andhra Bank Car Loan

Nowadays, no one wants to travel on public transport and it's the major reason that people are buying more and more cars.  But, there are a lot of people those who can't buy a car due to inadequate finances  So, people are turning towards car loans to get finance for the vehicle.

Thus, Andhra bank Car Loan Scheme is the best financing option that offers you money required for the desired car, at low-interest rates. Moreover, a car loan is offered on almost all kinds of cars available in the market. The only exception is commercial vehicles. That is, people are not approved a car loan on commercial vehicles. 

Andhra Bank Car Loan Interest Rate 

The Car Loan Interest Rate is quite affordable in contrast to other services like personal loans and home loans.

New Car

  1. Thus, For Cars Less than 3 Lakhs ROI starts at 10.25% per annum.
  2. Also, Cars ranging between 3-6 Lakhs interest rate begins from 9.50% annually. 
  3. Furthermore, The cars which fall under the category of  6-10 Lakhs the interest rate starts from 9.25% per annum.
  4. Moreover, the ROI for cars that cost between 10-20 Lakhs is 9.00% annually. 
  5. Finally, Interest Rate for cars more than 20 Lakhs starts at 8.70% per year. 

Used Car

The Car Loan Interest rate of the used car starts at 14.00% per annum. Also, it can go up to 16.00% per year.

Fee & Charges for Andhra Bank Car Loan

Processing fees

First of all, for a loan amount which is up to 2.5 Lakhs, the processing charges are Rupees 2825/- Then, if the loan amount is between Rupees 2.51 Lakhs and 4 Lakhs, the charges are Rs. 3850/- 

*SPECIAL OFFER from DialaBank: If the applicant applies for a Car Loan through us the processing charges is Rs.1750/-*

Loan cancellation / re-booking charges

So, In the case of cancellation, interest rate charges from disbursement date till refund of disbursement amount will be borne by the customer

Loan Reschedulement charges

In the case of rescheduling the loan, the bank charges around 1000 Rupees. 

Documents for Andhra Bank Car Loan

  1. Identity proof- First of all, the documents required for proof of identity are, Passport, PAN card, Aadhar Card, Voter card
  2. Address proof- Next, for verification of address any of the following is accepted:  Rental Agreement, Property Purchase Document, Telephone Bill, Electricity Bill, Sale Deed, Driving license, Ration card 
  3. Income proof- Salaried- Latest salary slips (at least 6 months), Self-employed- a copy of the latest 1-year Income Tax return.
  4. Finally, 3 passport size photographs.

Eligibility of Andhra Bank Car Loan 

Salaried

AGE: To begin, The minimum age of the applicant should be 21 years. And, the maximum age of applicant at loan maturity should be 65 years.

EMPLOYMENT: Next, minimum employment of an applicant should be1 year in the same company and minimum 2 years of total employment.

INCOME:  The minimum annual Income of a loan seeker should be  Rs.100000 annually. 

Self- Employed

AGE: To start, the minimum age of applicant applying for a car loan in this category is 30 years. And, the maximum age of applicant should be 60 years at loan maturity.

EMPLOYMENT: Also, The business should be running for at least 3 years continuously.

INCOME: Furthermore, Minimum Annual Income: Net profit Rs.60000 p.a for standard cars and Rs.100000 p.a. for mid-sized and premium cars.

Telephone: Telephone is a must in the office. 

Features of Andhra Bank Car Loan from Dialabank.com

  1. First of all, No Advance EMI
  2. Next, Tenure up to 84 months
  3. Also, No hidden charges
  4. Furthermore, Offers low rate of interest
  5. Moreover, Loans for one-time road tax, insurance premium, registration fee, and accessories.
  6. Besides, No pre-payment penalty
  7. Finally, Interest Calculated on Daily Reducing Balance

How to Apply?

Visit our official website www.dialabank.com and fill a form there.

You can check your Eligibilities and EMIs Online on our website.

Leading Car Loan Providers (Click to Apply)

  1. HDFC Car Loan
  2. Kotak Mahindra Car Loan
  3. Yes Bank Car Loan
  4. ICICI Bank Car Loan
  5. Axis Bank Car Loan
  6. State Bank of India Car Loan
  7. Canara Bank Car Loan
  8. IndusInd Bank Car Loan
  9. Others

 

 Car Loan EMI Calculator

 
EMI Calculator
 

*Call us on 600 11 600 (Single Number across 18 Cities) or 7707861526

FAQ's 

• What is the tenure duration for which I can get?
Ans: New car loan –  Tenure lies between minimum 2-year maximum 7 years as well as for Used car loan & Loan against the car – minimum 2year maximum 4 year.

• How much time required for Car Loan approval process?
Ans: Within a day your loan gets approved and disbursed in 2 days.

• Does Dialabank charge me for its services?
Ans: No, services come to you free of charge.

• What is The Best online platform for availing Car Loan?
Ans: Firstly Dialabank is the best platform to get a loan through. Moreover, they provide you hassle-free process as well as the lowest interest rate in the market as compared to others.

• How much processing fee for a Car Loan?
Ans Processing fee started at 0 -3%.

• In Car Loan can I avail EMI facility?
Ans Yes, he /she can avail Term Loan with EMI as repayment type for the tenures of 2 years to 7 years.