Andhra Bank Car Loan Rate, Eligibility Calculator, Apply Online

Andhra Bank Car Loan Offer Feb 2017

Last Updated 23rd Feb 2017
Features and Eligibility Andhra Bank New Car Loan Scheme Andhra Bank Used Car Loan Scheme
Interest Rates 9.20% Fixed Check Special Offer 9.20% Fixed
Maximum Loan Amount Eligibility 85.00% of on-road price 60.00% of market value
Maximum Loan Tenure (years) 7 years 5 years
Lowest EMI per Rs. One Lakh Loan Amount (Rs.) Rs. 1,619 Rs. 2,086
Processing Fee 0.00% 0.00% Min Rs. 0
Prepayment Charges 1% 1%
Interest Calculation Monthly reducing balance Monthly reducing balance
Age (years) Between 21 years and 65 years Between 21 years and 65 years
Apply Car Loan Online @9.25%*
 Salaried   Self Employed - Professional   Self Employed - Business 

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Eligibility Condition for Andhra Bank Car Loan

Andhra Bank New Car Loan Scheme Andhra Bank Used Car Loan Scheme
Minimum Net Annual Income (Rs. lakh)
--Salaried 1.0 1.0
--Self employed professionals 1.0 1.0
--Self employed businessmen 1.0 1.0
  • Car loan EMI calculation varies from bank to bank depending upon the method of calculation.
  • The standard convention should be to use the EMI in arrears method on reducing balance basis – whereby you pay interest on the car loan amount outstanding on a reducing basis at or after the end of the month.
  • Simply key in the loan amount, rate of interest and car loan tenure here and check the EMI amount using the car loan EMI calculator here. In case the EMI amount displayed is different from the one advised to you by the agent, you must check the calculation basis with your car loan agent.

  • New Car Loan Schemes of All Banks

  • Used Car Loan Schemes of All Banks

Frequently Asked Questions on Andhra Bank Car Loan

How much interest is charged by Andhra Bank on car loan?

Andhra Bank offers an interest of 9.20% on car loan.

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

If you apply for a car loan from Andhra Bank, your lowest EMI per lakh will be Rs. 1,619.

What is the maximum tenure of Andhra Bank car loan?

You can repay your car loan from Andhra Bank in a flexible period of maximum 7 years.

How much car loan I can borrow from Andhra Bank?

Andhra Bank offers you 85.00% of of on-road price of car as loan.

How much processing fee is charged by Andhra Bank on car loan?

Andhra Bank charge a processing fee of 0.00% with applicable service tax.

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

Yes, age is an important eligibility factor to get Andhra Bank car loan as you should be at least 21 years old at loan approval time and 65 years old at loan maturity time.

Are there any prepayment charges on Andhra Bank car loan?

You can take car loan from Andhra Bank with 1% prepayment charges.

Can I add my spouse's income while applying for car loan from Andhra Bank?

You can combine your income with the income of your spouse to increase your loan eligibility and to get higher loan amount.
Andhra Bank Car Loan Calculator News - Feb 2017
02nd Aug 16 Andhra Bank opens 24x7 facility
Andhra Bank plans to provide 24x7 banking facility in all its branches in phases. After the opening of Navshakti branch at its main branch, people do not have to wait in long queues to transact at fixed business hours as in conventional branches. Navshakti branches are a boon to customers as they can transact easily even at night after their regular office hours. In the next 2 to 3 months, bank is planning to open six more such branches in the zone.
15th Jul 16 Andhra Bank reduces MCLR by 0.05 percent
Andhra Bank will reduce its Marginal Cost Lending Rate (MCLR) by 0.05 percent or 5 basis points across maturities. This will reduce its one-year MCLR to 9.55 percent, from the current rate of 9.60 percent . Overnight MCLR will be reduced to 9.3 percent , while 6 month MCLR will be lowered to 9.4 percent. The new MCLR will be effective from July 15, 2016.
*My Finance Care Advisors Pvt. Ltd., or is a bank neutral multi bank platform that helps borrowers and bank customers compare loans and deposits of all banks in India at one place. Information carried at this website is based on perusal of public sources and should not be construed as an offer or solicitation or invitation to borrow or lend. The Company does not assure as to the correctness of information carried at the website. Lenders/ banks/ other parties may contact us at to provide corrections or updates. We may act as and/ or be associated with channel partners of banks and other sellers of financial products.