Andhra Bank Home Loan Interest Rates

Andhra Bank home loan – Quotes on EMI, Interest Rates, MCLR Rates, Eligibility, Documents, Processing Fees & Charges at 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
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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