Andhra Bank Personal Loan Rate and Features
10.49% – 18.00%
Lowest EMI per Lakh
12 to 60 months
2.50% (Min Rs 1000)
Allowed after 12 Months (2 – 4 %)
Part Payment Charges
Allowed after 12 Months (2 – 4 %)
Max Loan Amt
₹ 75 lakh
Min Loan Amt
To sustain your lifestyle while covering up certain expenses in a city thriving with business can demand special financial assistance at times. Don’t worry, we have got you covered. Looking for an Andhra Bank Personal Loan? We help you grab the best deals when it comes to availing of personal loans in Andhra Bank in a hassle-free manner. Our network helps you choose the loan especially personalised to meet your requirements because that’s what a personal loan essentially means!
Less Documentation: Andhra Bank personal loan can profit with a requirement for the least number of docs. For the most part, identity proof, address proof and income proof are adequate to apply for a personal loan.
Decent variety: Andhra Bank offers personal loans to fulfil money related requirements of various individuals, extending from salaried people to independently employed candidates, experts, LIC operators and retired people.
Adaptable Loan Tenure: You can reimburse the loan sum according to your benefit in as long as 60 months.
Floating Interest Rate: Andhra Bank personal loan rate of interest is connected to the repo rate and the premium is determined via the reduced balance technique. This successfully brings down the absolute interest payout, which makes the Andhra personal loan offer increasingly worthwhile for borrowers.
Andhra Bank Personal Loan Interest Rate is 10.50%
Banks have various plans for pulling in their clients to settle on loans. The principal measure is the rate of interest each bank charges while giving a loan to candidates who apply for it. The best thing banks can offer is an interest rate on the loan sum which is better than other banks with the goal that they don’t lose their clients.
Coming up next are the personal loan interest rates as offered by Andhra Bank:
|Sort of Personal Loan||Rate of Interest (p.a.)|
|Clean Loan||11.20% onwards|
|Consumers’ Durable Loan||11.70% onwards|
|Personal Loans that are Secured (against KVP, NSC, LIC Policy)||13.15% onwards|
Documents Required for Andhra Bank Personal Loan
Andhra Bank Personal Loan Eligibility Criteria
Personal Loan Eligibility Criteria
- CIBIL Score: It reflects your credit history. The score is derived using a CIBIL report, which is also known as (CIR) Credit Information Report. All your payments are tracked through CIR.
- Salary: The bank decides your loan amount approval based on your monthly income. This is just to make sure that the applicant is capable to pay the loan amount after loan disbursal.
- Location: It is yet another primary concern while opting for a loan. Your loan will be sanctioned only from the bank branch that is nearby your current location.
- Age: The age of the person applying for a loan must be 21-60 years.
- Company’s Profile: The market value of your company in which you work (for salaried applicants) or your own (for self-employed applicants) matters a lot while the process of loan approval is going on.
- Processing Fee: There is always some amount that is charged by the banks that is called the loan processing fees.
Personal Loan Andhra Bank Fees and Other Charges
Andhra Bank Personal Loan for Salaried Applicants:
- Last three months salary slips
- Six months old bank statements are considered
- PAN Card is a must
- Aadhaar Card is required as an identity proof
- Residence Proof (Owned/Rented/Company provided)
- Two passport-sized photographs
*NOTE: In the case of rented apartments, the rent agreement is to be attached.
Andhra Bank Personal Loan for Self-Employed Applicants:
- All financials are considered (company documents as well as ITR files)
- PAN Card
- Aadhaar Card
- Residence Proof
- Two passport-sized photographs
Why Dialabank for Andhra Bank Personal Loan?
Dialabank helps you to choose the best option of banks by providing you with the updated market comparison of different banks so that you can make the right choice. Go to our website dialabank and fill a simple form with your details. Our customer relationship managers will soon get in touch with you.
Benefits of Andhra Bank Personal Loan
- Easy Disbursal: There is an easy disbursal involved in the process of a Personal Loan. You can now get the loan disbursed in just one-two day and sometimes within one day only.
- No need for any guarantor: The best thing about this type of loan is that you don’t have to show or keep any confidential papers.
- Personal Documents: When you go for this loan, make sure that all your documents are genuine as your documents speak for yourself.
- Simple Application Process: Your few documents, along with your passport-sized pictures, are required for filing your application form for a Personal Loan.
Apply for a personal loan with Dialabank
What is CIBIL Score?
CIBIL Score is the history of the payments that you have done to the bank. Depending on your bank statements and payments, the bank decides how your CIBIL Score level is. The CIR (Credit Information Report) is the history of your credit score which checks your account’s history for different loans that you have taken (if any) and the credit card history (if you have). It is essential to maintain your CIBIL Score while taking a loan because your loan sanctioning depends a lot on your credit history.
What is an EMI?
EMI is the Equated Monthly Installments that you pay to the bank for your loan amount. The borrower (an applicant) pays a fixed amount to the moneylender (the bank) at the end date or start date of every month.
The EMI is calculated based on your work profile (net salary) and the amount of loan you have to take from the bank. The scheme of EMI has been introduced by the banks so that the person can repay the loan amount by giving a fixed due every month, and there is less burden on the applicant.
Various Products of Andhra Bank Personal Loan
Andhra Bank Personal Loan for Salaried Employees
Andhra Bank Personal Loan for Self Employed Individuals
Andhra Bank Doctor Loan
Andhra BankMarriage Loan
Andhra Bank Personal Loan for Government Employees
Andhra Bank Personal Loan for Pensioners
Andhra Bank Personal Loan Balance Transfer
Andhra Bank Personal Loan Top Up
FAQs About Andhra Bank Personal Loan
✅ What is Andhra Bank Personal Loan?
Personal loans with minimal documentation become hassle-free as no mortgage or security is required. Andhra Bank provides personal loans to its pre-approved customers in just 10 seconds and within 4 hours for the new customers.
The interest rate starts from 10.50% per annum and the loan amount can be used by the borrower for any personal financial need ranging from higher studies or a vacation to using the amount for day to day expenses.
✅ How does Andhra Bank Personal Loan work?
The first step would be to check your eligibility for the Andhra Bank personal loan which can be done online. If you are a pre-approved Andhra Bank customer you can avail of the loan within seconds and for others, the loan disbursal on average takes 4 hours.
You can borrow a loan amount of up to ₹50 lakhs with the lowest interest rates depending on your eligibility criteria and credit history. Repayment of the loan can be done on an EMI basis or as agreed upon in the loan agreement.
✅ What is the Personal Loan rate of interest in Andhra Bank?
The personal loan rate of interest in Andhra Bank varies from 10.50% per annum to 22% per annum with a repayment tenure of your liking ranging between 1 to 5 years. You can check the latest personal loan rates of interest online at Dialabank’s digital platform and compare it to avail of the best offers suiting your needs.
✅ What is the procedure for a Personal Loan in Andhra Bank?
The procedure to avail of a personal loan with Andhra Bank is hassle-free. You can apply for an Andhra Bank personal loan by visiting the nearest branch with your documents, through an Andhra Bank ATM, or using Andhra Bank’s Loan Assist App. You can also contact and apply with Dialabank for easy processing and personalized assistance. The basic steps include:
- Calculation of loan amount required as per your need
- Checking your loan eligibility online or by visiting the branch
- Approaching the bank via your preferred method (online or offline)
- Submitting the required documents with the banker,
- Disbursal of loan amount once your application and documents have been verified and approved.
✅ How can I get Andhra Bank Personal Loan?
Getting a personal loan from Andhra Bank is fairly simple as minimal documentation ensures a quick disbursement time. You just need to check your eligibility and contact the bank either online or by visiting the nearest branch. After submission and verification of the required documents, the loan amount will be credited to your bank account within 4 hours.
✅ How to apply for a Personal Loan in Andhra Bank?
A personal loan is a security-free loaning option to meet all your financial needs. You can apply for a personal loan with Andhra Bank with minimal documentation and get quick loan amount disbursal by visiting the nearest branch with your documents or filling an application online at Andhra Bank’s official website. You can also apply with Dialabank to avail of personalized assistance and get the best deals and offers.
✅ Why apply for Andhra Bank personal loan?
Andhra Bank is one of the leading providers of personal loans in India, it offers the best loan options that come with a unique array of features and benefits. They provide personal loans at low interest rates with minimum documentation for an easy and hassle-free process. The average disbursal time for a new customer is 4 hours. Repayment of the loan can be done through EMIs or via online payment options as preferred. Repayment tenure ranges between 1 to 5 years.
✅ How much EMI on Andhra Bank Personal Loan?
EMI (Equated Monthly Installment) is the amount payable to the bank every month as repayment of your personal loan. The EMI on Andhra Bank personal loan depends on the loan amount, interest rate, and the tenure of the loan. It can easily be calculated using the EMI calculator on Dialabank’s website.
✅ How much CIBIL score is required for Andhra Bank personal loan?
Your CIBIL score is a major factor involved in deciding your eligibility for a personal loan. Andhra Bank requires you to have a CIBIL score in excess of 750 with 700 being the absolute lower limit. You can increase your CIBIL score by making timely payments of your EMIs and credit cards.
✅ Minimum credit score needed for Andhra Bank personal loan?
A credit score is a 3 digit number between the range of 300-900 which reflects the creditworthiness of the borrower. It is based on your past credit files and your performance in the repayment of your loans. Andhra Bank requires you to have a minimum credit score of 750 to become eligible for a personal loan.
✅ How to calculate Andhra Bank personal loan EMI?
EMI on personal loan can be calculated using the formula, E = P x R x [(1+R)^N] / [(1+R)^N-1] where,
P= Principal or your loan amount,
R= Rate of interest, and
N= Loan Tenure.
You can easily calculate your EMI online at Dialabank’s website for free and compare offers from different banks and finance companies.
✅ What can I use Andhra Bank personal loan for?
You can use your Andhra Bank personal loan for a number of reasons ranging from small bill payments and daily expenses to a medical emergency and bigger expenses such as debt consolidation, wedding, and etc. Fulfil all your monetary needs with a personal loan by applying online at Dialabank’s digital platform.
✅ Can I prepay Andhra Bank personal loan?
When a borrower pays off their loan entirely or in part before the agreed due date, it is termed as prepayment or preclosure. Andhra Bank gives you the option to prepay your personal loan provided that you have at least paid 12 month’s EMIs. You will be charged with a preclosure fee of up to 5% of your outstanding loan amount depending on the number of EMIs left to pay.
✅ How to prepay Andhra Bank personal loan?
Steps to prepay your Andhra Bank personal loan:
- Collect the required documents (PAN, Id proof, and any other loan documents)
- Visit the bank to inquire about your loan amount balance and any pre-closure charges or penalties.
- You will be prompted to fill a form requesting the prepayment of the loan.
- Pay the prepayment amount (cash up to Rs.49000, Cheque, or DD) and take its acknowledgement.
- Your loan will be closed as soon as the bank receives the fund.
✅ How to repay Andhra Bank personal loan?
You have the option of repaying your Andhra Bank personal loan either by a standing instruction on your bank account to pay the EMI, online payment through different modes or through post-dated cheques given to the loan branch.
✅ How to repay Andhra Bank personal loan online?
You can pay your personal loan EMI online in just 5 steps:
- Visit the payments page on Andhra Bank’s website.
- Click on ‘PAY ONLINE’ and enter your ‘Loan No.’ and ‘Date of Birth’.
- Select your net banker from the drop-down menu and click on PAY.
- You will be securely redirected to the bank payment interface of your chosen net banking option.
- Complete the payment and you will receive an online transaction confirmation. You can also pay your Andhra Bank personal loan on Paytm.
✅ What documents are needed for Andhra Bank personal loan?
Andhra Bank provides easy hassle-free personal loans with minimal documents. You will need your Aadhar card/Voter ID, PAN card, Bank statement of the last 3 months, and the latest salary slips/ITR file. For more information and personalized assistance, you can contact Dialabank’s financial helpline number.
✅ How to check Andhra Bank personal loan status?
You have a number of options to check the status of your Andhra Bank personal loan:
- Log In to the Andhra Bank Netbanking Portal, Click on loans from the top ribbon and click on Enquire to check the status of your loan.
- Search for ‘personal loan status’ on Google, open the first link which will take you to the Loan Status Tracker webpage of Andhra Bank and fill the required information to check the status of your loan.
- You can also visit your loan branch and ask the banker for the same.
✅ How to get Andhra Bank personal loan top up?
Top up is the additional loan amount that can be taken from the existing bank of your running loan or at the time of balance transfer from your new bank. Andhra Bank lets you avail of this facility if you have paid at least 9 EMIs without any cheque bounces. You can get a top-up of a minimum of ₹50,000 and a maximum of your already sanctioned loan amount. You can check the online portal of Andhra Bank for more offers or contact Dialabank for any financial help.