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Andhra Bank Business Loan Interest Rate Oct 2019

Last Updated 23rd Sep 2019

Andhra Bank Business Loan Interest Rates India

Andhra Bank offers Business Loan starting at interest rate of 15.75%. The rates vary by loan amount, occupation and type of loan availed. Check Best Offers

Andhra Bank Business Loan Features
Andhra Bank Business Loan Rate
Loan for Self Employed Features
Processing Fee Case to Case
Tenure From 12 months to 60 months
Lowest EMI per lakh ₹ 2,419
Loan Amount Min ₹ 50,000 and Max ₹ 5 Lakh
Part Prepayment, Charges Nil prepayment charges
Early Foreclosure, Charges Nil prepayment charges
Apply for Business Loan @ 13.50%* Get upto ₹ 2,500* Cashback
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Andhra Bank Business Loan

Andhra Bank offers loan to self employed and businessmen for financing the expansion or working capital requirements of their business. There are some benefits of taking loan from Andhra Bank:

  • You can prepay part of your loan anytime after paying 1 % prepayment charges
  • You can foreclose your entire Business loan anytime after paying 0 EMI's at foreclosure charges - Nil prepayment charges
  • Andhra Bank has over 3,072 branches in India where you can avail service

Andhra Bank Business Loan Interest Rate Calculator

There are multiple factors on which basis bank calculates your interest rate. Some of these factors are -

  • Loan amount: Business loan rate in Andhra Bank depends upon the loan amount you apply for. Higher the loan amount, lesser will be the interest rate. Bank gives loan of minimum ₹ 50,000 to upto ₹ 5 Lakh. Interest rate for high loan amount can be lower resulting in lower EMIs.
  • CIBIL Score: Andhra Bank offers loan at higher interest rate if your CIBIL score is low or vice versa. However, to get loan from Andhra Bank, your CIBIL score should be atleast 700. Higher the CIBIL Score, higher the chances of getting a loan at lowest business loan interest.
  • Revenue: Andhra Bank will offer you loan at lower interest rate if you have higher monthly revenue. Bank gives loan to the borrowers whose annual turnover is at least ₹ 0.
  • Time in Business: Andhra Bank offers loan at lower rates if you have significant business experience. Minimum business existence to get loan from Andhra Bank is 0 months.

Andhra Bank Eligibility Criteria

Bank have a detailed criteria to determine the eligibility of a borrower for business loans. Some of the key criteria are:

Eligibility Criteria Description
Age: 21 to 55 years
Minimum Turnover ₹ 0
Business Existence (in months) 0 months
ITR (months) 0 months
Loan Amount ₹ 50,000 to ₹ 5 Lakh
Loan Tenure 60 months
Owned House or Place of Work Not Required
CIBIL Score 750 and above

Andhra Bank Business Loan Eligibility Calculator

Eligibility of Business loan in Andhra Bank relies on two important factor:

1.Your ability to repay the loan and
2.Your past track record in repayment of loans.

The main factors on which the eligibility of an applicant depends are

  • Age: Age plays an important role to know your eligibility and repayment capacity. Andhra Bank offers loan to those who are at least 21 years old at the time of loan approval and maximum 55 years at the time of loan maturity.
  • Loan Amount: Based on the loan amount eligibility, bank gives you loan ranging from ₹ 50,000 to ₹ 5 Lakh. To improve chances of approval, apply for a loan amount that you can comfortably service.
  • Profitability and Revenue: Loan eligibility significantly depends upon profitability on your turnover, revenue and profitability. Andhra Bank requires profit for minimum 2 years and minimum business turnover of ₹ 0.
  • Business Stability: Future business prospects and its stability is important to improve your eligibility for business loan. Andhra Bank requires minimum business track record of 0 months. The bank will also look for minimum growth in sales for the last three year. A decline in sales for a certain period or below a certain limit might impact your eligibility to get loan.
  • ITR and Banking: Bank gives loan only after checking your income tax return and bank statements. Your ITR details for minimum 0 months and bank statement for minimum 0 months will be required by Andhra Bank.
  • CIBIL Score: When checking loan eligibility, Andhra Bank will look at the complete CIBIL report. Andhra Bank will check your repayment history for all current and past loans and credit cards. Bank advise you to maintain a score of 750 and above to get loan approval.

Andhra Bank Business Loan EMI Calculator

Andhra Bank Business Loan EMI is a fixed amount that you pay each month towards the repayment of your loan till the end of tenure. Lowest EMI offered by Andhra Bank is ₹ 2,419 per lakh loan amount. EMI of Andhra Bank depends on factors like:

  • Interest Rate: Higher the interest rate, higher will be the EMI. For a 60 months loan from Andhra Bank at an interest rate of 15.75% per annum, EMI will be ₹ 2,419 per Rs. one lakh loan amount. At an interest rate of 16.00% for the same loan, the EMI will be ₹ 2,432 .
  • Loan tenure: Longer the loan tenure, lesser your smonthly EMI. At interest rate of 15.75% per annum, the EMI on Andhra Bank business loan would range from ₹ 9,061 to ₹ 2,419 for loan tenure ranging from 12 to 60 months.
  • Amount Borrowed: Andhra Bank Loan EMI will be high if you apply for a high loan amount. For amount borrowed ₹ 50,000 , the EMI at 15.75% for 60 months would be ₹ 1,209 . Similarly for amount borrowed ₹ 5 Lakh, the EMI at 15.75% for 60 months would be ₹ 12,093 .
What are the benefits of calculating business loan EMI?
  • Business loan EMI calculator of Andhra Bank helps you to calculate your monthly EMI at different rate of interest
  • Andhra Bank EMI calculator helps you to know your capacity to repay the loan after meeting your regular monthly expenses
  • You get a rough idea about your monthly EMI and can plan your monthly budget accordingly
Business Loan Products

Andhra Bank offers customized products for specific customer segments designed to meet their loan requirements. Some of the popular products with their basic features are as follows:

Other Charges

In addition to interest rates, business loan also carry some other charges which include:

  • Foreclosure Charges- These charges are to be paid in case you want to repay your entire loan amount before the end of tenure period. Andhra Bank allows prepayment of loan after paying 0 EMI’s with prepayment charges - Nil prepayment charges
  • Processing Fee- Andhra Bank asks for a processing fee of Case to Case with applicable service tax
Documents required
  • Address proof of individual: Aadhaar Card, Voter’s ID Card, Bank statement, registry copy, rent agreement , utility bills
  • Identity proof of individual: Passport, Driving License, PAN Card, Aadhaar Card, Voter’s ID Card
  • Business existence proof: PAN, sales tax/ excise/ VAT/ service tax registration, copy of partnership deed, trade license, certificate of practice, registration certificate issued by RBI, SEBI
  • Copy of Income Tax PAN for 24 months
  • Bank statement of last 6 months

Compare Andhra Bank Business Loan with other banks

FAQs on Business Loan Andhra Bank

Why to take business loan from Andhra Bank ?

Bank offers loan at 15.75% rate with the lowest EMI of ₹ 2,419 per lakh. If you are paying EMI more than this then you can opt for balance transfer and relocate your loan to Andhra Bank.

What is the interest charged on Andhra Bank business loan?

Interest rates on Business loan in Andhra Bank are very attractive starting from 15.75% to 16.00%. Bank offer various offer for self employed professionals to get loan at very low rate of interest.

What is the lowest EMI per lakh on business loan from Andhra Bank ?

If you apply for loan from Andhra Bank, your lowest EMI per lakh will be ₹ 2,419 .

What is the minimum and maximum tenure of business loan in Andhra Bank?

These loans are shorter tenure loans. You can repay your loan in a flexible period of minimum 12 months to maximum 60 months.

How much business loan amount I can borrow from Andhra Bank?

Andhra Bank offers you loan if you need a minimum amount of ₹ 50,000 to a maximum amount of ₹ 5 Lakh.

What is the processing fee charged by Andhra Bank on business loan?

Andhra Bank charges a processing fee of Case to Case with applicable tax.

Is age an eligibility factor to get loan for business from Andhra Bank ?

Yes, age is an important eligibility factor to get loan as you should be at least 21 years old at loan approval time and 55 years old at loan maturity time.

What are the prepayment charges on business loan from Andhra Bank?

Bank charges a fee in case you want to repay your entire loan amount before the end of tenure period. The fee charged by Andhra Bank is Nil prepayment charges .

Andhra BankBusiness Loan Customer Care Number, Email, Application Status, Branches
City Customer Care Number
Andhra Bank 1800-425-2905
Andhra Bank 1800-425-2905
Andhra Bank 1800-425-2905
Andhra Bank 1800-425-2905
Andhra Bank 022-26876181
Andhra Bank 080-26578833
Andhra Bank 1800-425-2905
Andhra Bank 1800-425-2905
Andhra Bank 022-26876181
Andhra Bank 1800-425-2905
Andhra Bank 1800-425-2905
Andhra Bank 1800-425-2905
Andhra Bank 1800-425-2905
Andhra Bank 044-24994924
Andhra Bank 1800-425-2905
Andhra Bank 044-24994924
Andhra Bank 1800-425-2905
Andhra Bank 0124-2581936
Andhra Bank 1800-425-2905
Andhra Bank 0124-2581936
Andhra Bank 1800-425-2905
Andhra Bank 0124-2581936
Andhra Bank 1800-425-2905
Andhra Bank 0124-2581936
Andhra Bank 0124-2581936
Andhra Bank 1800-425-2905
Andhra Bank 1800-425-2905
Andhra Bank 040-23210907
Andhra Bank 1800-425-2905
Andhra Bank 1800-425-2905
Andhra Bank 1800-425-2905
Andhra Bank 1800-425-2905
Andhra Bank 1800-425-2905
Andhra Bank 1800-425-2905
Andhra Bank 1800-425-2905
Andhra Bank 022-26876181
Andhra Bank 033-22472068
Andhra Bank 1800-425-2905
Andhra Bank 1800-425-2905
Andhra Bank 1800-425-2905
Andhra Bank 1800-425-2905
Andhra Bank 044-24994924
Andhra Bank 1800-425-2905
Andhra Bank 1800-425-2905
Andhra Bank 1800-425-2905
Andhra Bank 022-26876181
Andhra Bank 1800-425-2905
Andhra Bank 022-26876181
Andhra Bank 022-26876181
Andhra Bank 0124-2581936
Andhra Bank 0124-2581936
Andhra Bank 1800-425-2905
Andhra Bank 1800-425-2905
Andhra Bank 1800-425-2905
Andhra Bank 022-26876181
Andhra Bank 1800-425-2905
Andhra Bank 1800-425-2905
Andhra Bank 1800-425-2905
Andhra Bank 1800-425-2905
Andhra Bank 1800-425-2905
Andhra Bank 044-24994924
Andhra Bank 1800-425-2905
Andhra Bank 1800-425-2905
Andhra Bank 1800-425-2905
Andhra Bank 044-24994924
Andhra Bank 1800-425-2905
Andhra Bank 1800-425-2905
Andhra Bank 1800-425-2905
Andhra Bank 040-23210907
Andhra Bank 040-23210907

*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More