Andhra Bank Car Loan – Check Car Loan Interest Rates, Eligibility, EMI Calculator, Documents, Processing Fee, Tenure, Benefits, Features.
Avail a car loan from Andhra Bank at a minimal interest rate and get huge loan amount. Fulfil your dreams and bring a smile at your loved ones’ faces.
CAR LOAN – GET INSTANT LOAN QUOTES ONLINE
Founded by Dr Bhogaraju Pattabhi Sitaramayya, Andhra Bank got registered in 1923. It is serving Indians with its exceptional services since then. It strives to deliver world-class services by leveraging on technology and human resources to attain world-class performance standards.
Andhra Bank Car Loan Interest Rate
|Interest Rate||New Car: One year MCLR + 0.70%|
|Used Car: One year MCLR + 3.45%|
|Repayment Period||New Car: 84 months|
|Used Car: 60 months|
|Loan Amount||Rs 25 lakhs to Rs 50 lakhs|
|Processing Fee||1% of the loan amount with minimum Rs 1000 and maximum of Rs 25,000 plus taxes|
Eligibility Criteria for Andhra Bank Car Loan
- The minimum gross annual income of the applicant must be Rs 1 lakh.
- The applicant should be a corporate customer of Andhra Bank.
- Used cars should not be more than three years old.
- Limited companies
- Trusts holding an account with Andhra Bank
Features and Benefits of Andhra Bank Car Loan
- Attractive interest rate
- Loan amount up to Rs 50 lakhs
- Impeccable loan tenure
- Covers almost all segments of society
Andhra Bank Car Loan EMI Calculator
EMI Calculator is the online tool important for people applying for a loan. It not only generates the exact amount of payment but also let the borrower know how much loan amount would be feasible. Enter the loan amount, interest rate and the loan tenure, based on which EMI Calculator would calculate your monthly EMI. Hence, you can freely plan your month based on the amount of monthly outgo.
Andhra Bank’s margin criteria are for new cars only:
- For a salaried class where salary deduction is available: 15%
- For other borrowers: 20%
- For used cars: 40%
- Hypothecation of the vehicle purchased
- Duly filled application form
- Passport size photographs
- Identity proof
- Address proof
- Valid driving license
- Proforma invoice
- Salary Slips
- IT returns
- Assessment order