Andhra Bank Home Loan Interest Rate at 8.35% to 10.75%
| INTEREST RATE | 8.35% to 10.75% |
| LOAN TENURE | 30 Years |
| PROCESSING FEE | 0.50% of the loan amount, maximum of Rs.15000 including service tax |
| GUARANTOR REQUIRED | No |
| PRE CLOSURE CHARGES | Nil |
Calculate Andhra Bank Home Loan EMI Calculate EMI Now
About Andhra Bank
Andhra Bank is a public sector bank in india. Andhra Bank was founded on Nov. 20, 1923. It provides all the financial services to its customers like saving deposit, fixed deposit, recurring deposit, home loans, personal loan, car loan, education loan, gold loan, PPF account, lockers, netbanking, mobile banking, RTGS, NEFT, IMPS, E-Wallet, Atal Pension Yojana, Pradhan Mantri Jandhan Yojana, Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana and many more.
Find details about Andhra Bank which includes Andhra Bank Official Website, Andhra Bank ATMs accross the India, Andhra Bank Branches accross the India, Andhra Bank Contact Numbers, Andhra Bank official EmailID, Andhra Bank Headquarter and Andhra Bank Headquarter Address. Find Andhra Bank Home loan purpose, Eligibility, Margin, Repayment of Home Loan ,Security, Document Required for Home Loan from below.
Why Andhra Bank Home Loan?
- Andhra Bank provides a range of Home Loan Schemes designed for different needs of customers
- Interest Rate is very competitive and affordable
- Minimal Documentation
- It provides Flexible Repayment Options to the borrowers
- Easy and fast approval & disbursal of home loans
- Has dedicated team of well-experienced employees which also offer personalised service
- 24/7 customer care service of Andhra Bank offers timely assistance to the customers
Andhra Bank Home Loan Purpose
- Purchase/ construction of house/ flat
- Purchase of plot and construction of house thereon
- Repairs/ improvements/ extension of the existing residential property
- Take-over of housing loan availed from another bank / FI
Andhra Bank Home Loan Eligibility
- The applicant must be an Indian citizen or a fully documented NRI. He, essentially, must be a Person of Indian Origin (PIO).
- The applicant's age must be in the range of 18 years and 70 years at the time of loan maturity.
- The applicant must be salaried or self-employed with a regular income.
- The applicant must earn more than the minimum required income.
Andhra Bank Home Loan Document Required
- Duly filled and signed application form with photograph
- Identity Proof- Aadhar Card, PAN Card, Passport, Driving License, Voter id card, ID-card issued by Government
- Address Proof - Aadhar Card, Passport, Driving License, Voter id card, Electricity/ Telephone/ Post-Paid Mobile bill, Bank statement
- Age Proof - Passport, Birth Certificate, PAN card, Driving License, Voter id card, Employee ID card (only for PSU/ Government employees), School/ College leaving certificate
- Form 16
- Latest 6 months salary slips for salaried persons
- Bank Statement of last 6 months
- Income Tax Returns (ITR) of last 3 years
- Last 3 years CA Certified or Audited Balance Sheet and Profit & Loss Account
- Processing fee Cheque
- Copies of the title documents of the property and the approved plan
- For Construction/ Renovation case, cost estimate from the Architect
Tax Benefits of availing Andhra Bank Home Loan
There are two types of tax benefits associated with home loan for Resident Indians:
Repayment of the Principal Amount: One can get a Tax rebate under section 80C of the Income Tax Act on whole amount repaid by him in a financial year, maximum upto Rs. 1,50,000/- each financial year (Increased from 1 Lakh to Rs. 1.5 Lakh in Budget 2014).
Repayment of the Interest on Home Loan: Tax Benefit on Home Loan for payment of Interest is allowed as a deduction under Section 24(1) of the Income Tax Act. One is eligible for a Tax Rebate of maximum of Rs. 2 lakh per financial year for home loan interest paid by him/her during that financial year.
Andhra Bank Home Loan Amount
Customised on the basis of the value of the property and the repayment capacity of the borrower.For repairs of an existing property - Maximum upto Rs. 30 lakh
Margin
20% to 35% of the loan amountAndhra Bank Home Loan Repayment
Maximum 30 years or upto the age of 70 years , whichever is earlier. Maximum 10 years for repairs.Security
Equitable mortgage (E.M.) of the residential propertyIf the house/ flat proposed to be purchased is yet to be constructed or is under construction, interim security may be required (till the period of its completion)
In Case of Prepayment of Andhra Bank Home Loan, will EMI change?
One can pre-pay Andhra Bank Home Loan without any prepayment charges as it allows prepayment at nil charges in case of floating rate home loans. If the borrower makes a prepayment, the outstanding balance of principal amount of his home loan reduces. Then in that case he has following 2 options:
- He can continue with the existing and reduce the loan tenure
- He can reduce the EMI and keep the loan tenure the same
Out of above 2 options, first option is more beneficial for the borrower as he pay less interest to the bank as the pay off home loan will be faster.
How to reduce your Home Loan EMI?
- Negotiate with your banker on lower interest rate
- Apply for longer tenure
- Give maximum amount as down payment
- Pre-pay loan amount
- Switch to another bank/ FI offering lower interest rate
Contact details of Andhra Bank, Andhra Bank SMS balance check number SMS banking, Andhra Bank mobile banking, Andhra Bank toll free number,Andhra Bank toll free number 24*7, Andhra Bank miss call number.
- MISSED CALL NUMBERS - 9223008586
- CUSTOMER CARE NUMBERS - 1800222244, 18002082244, 080-61817110
- CONTACT NUMBERS - 1800222244, 18002082244, 080-61817110
Andhra Bank Contact Details
- BANK OFFICIAL WEBSITE - https:// www.unionbankofindia.co.in
- CONTACT NUMBERS - 1800222244, 18002082244, 080-61817110
- EMAIL ID - [email protected]
- MISSED CALL NO. - 9223008586
- CUSTOMER CARE NO. - 1800222244, 18002082244, 080-61817110
- TOTAL BRANCHES - 2507
- TOTAL ATMS - 2232
- HEADQUARTER - Hyderabad
- BANK ADDRESS - Head Office,Dr. Pattabhi Bhavan,5-9-11, Secretariat Road,Saifabad, Hyderabad-500 004.
Andhra Bank Home Loan FAQs Home Loan Document Required
