Andhra Bank Home Loan Interest Rates
Andhra Bank home loan – Quotes on EMI, Interest Rates, MCLR Rates, Eligibility, Documents, Processing Fees & Charges at emicalculator-india.com. Borrowers can use this tool for free. Home Loan from Andhra Bank. Apply for Housing/Home Loans Online & avail Nil Prepayment Charges, Low Interest, Quick Processing & Flexible Repayment.
Andhra Bank is a medium-sized public sector bank of India, with a network of 2803 branches, 4 extension counters, 38 satellite offices and 3636 automated teller machines as of 31 Mar 2016.
Andhra Bank offers home loans in floating & fixed type of interest rates. Get Housing Loan, AB Housing loans- NRI Scheme available through Andhra Bank. Interest Rates for Home loan starts from 8.80%. Andhra Bank offers 8.80% rate of interest on loan amount of upto 25 lakhs for upto 5 years tenure period. Minimum margin 10% for limits up to Rs.30 lacs, 20% for limits over Rs.30.00 lacs to Rs.75.00 lacs and 25% for limits more than Rs.75.00 lacs.
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Andhra Bank Home Loan Interest Rates
| Interest Rates | RLLR +.10 to RLLR+.20 |
| RLLR | N.A |
| Processing Fee | 0.50 % of loan amount subject to maximum of Rs.10000/- + applicable tax. |
| Pre Payment Charges | Nil |
| Repayment | 30 Years |
| Guarantor | Mortgage of House / Flat |
| Age | 21 – 65 |
| Loan Amount | 25 Lakh |
| Margin | 10% – 25% |
| Bank | Andhra Bank |
| Toll Free Number | 1800 425 1515 |
For repairs and renovation:
1. Up to 5 years of age of the property – Max loan Rs.10.00 lacs
2. Above 5 years and up to 25 years – Max loan Rs.15.00 lacs
Documents required in case of construction
Copy of approved plan.
A detailed estimate of construction.
Original title deeds of the site.
Development Agreement between the owner of the site and builder.
Allotment letter of the house/flat issued by Housing Board.
NIL Encumbrance Certificate.
Any other document stipulated by Legal Advisor / Sanctioning authority.
Example – Here is the monthly emi for Rs. 9 lakh home loan at interest rate of 8.85% p.a.
| Loan Amount | Tenure In Years | Monthly EMI | Total Amount | Total Interest |
| 9,00,000 | 5 | ₹18,617.07 | ₹11,17,024.09 | ₹2,17,024.09 |
| 9,00,000 | 10 | ₹11,327.89 | ₹13,59,346.39 | ₹4,59,346.39 |
| 9,00,000 | 15 | ₹9,048.27 | ₹16,28,687.77 | ₹7,28,687.77 |
| 9,00,000 | 20 | ₹8,010.91 | ₹19,22,619.44 | ₹10,22,619.44 |
| 9,00,000 | 25 | ₹7,460.54 | ₹22,38,161.16 | ₹13,38,161.16 |
| 9,00,000 | 30 | ₹7,144.68 | ₹25,72,084.76 | ₹16,72,084.76 |
Prepayment Charges for floating rate of interest:
No prepayment charges for loans with floating rate of interest
Administrative charges:
For loans up to Rs.10.00 lacs – Rs.100 per quarter.
For loans above 10 .00 lacs to 15.00 lacs Rs.150 per quarter
For loans above Rs.15.00 lacs Rs.250 per quarter.
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