Andhra Bank Gold Loan

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Andhra Bank Gold Loan Interest Rate Oct 2016

Last Updated 17th Oct 16

Andhra Bank Gold Loan Interest Rate 11.40%
Repayment Options EMI Scheme, Bullet Repayment Scheme, Overdraft Scheme
Loan Tenure
Minimum and Maximum Loan Amount Rs. 10,000 and Rs. 20,000,000
Processing Fee Nil processing fees. Appraising charges : 1% of the loan amount sanctioned. 50% concession for loans above Rs 2 lakhs
Prepayment Charges Nil
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Andhra Bank Gold Loan Interest Rate Calculator

Andhra Bank offers gold loan to the customers who have urgent need of money. Gold loan to be offered by Andhra Bank has many features like:
  • Large branch presence
  • Quick processing
  • Low interest rates

Gold Loan Andhra Bank

Andhra Bank Gold loan interest rate is the rate which you pay over the loan amount that you have borrowed from Andhra Bank. Gold loan interest rates offered by Andhra Bank are fixed as well as floating
  • Fixed rates allow you to borrow loan at a fixed price which won’t change in the whole tenure in case of change in Andhra Bank benchmark rate and should be chosen only if you believe that the rates will not hike in future
  • In contrast to this are floating rates which changes with a single change in Andhra Bank benchmark rate in your loan tenure. You should go for floating rates if you can take the risk of hike in interest rates
Andhra Bank Gold Loan Rates depends upon
  • Andhra Bank gold loan amount: Gold loan rate in Andhra Bank depends upon the loan amount you apply for. Higher the loan amount, lesser will be the interest rate

Andhra Bank Gold Loan Charges

Andhra Bank Gold Loan 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 gold loan with Nil prepayment charges
Andhra Bank Gold Loan processing fee- Andhra Bank asks for a processing fee of Nil processing fees. Appraising charges : 1% of the loan amount sanctioned. 50% concession for loans above Rs 2 lakhs with applicable service tax
Penal Interest- Andhra Bank charges a penal interest of 0.00% per month if you don’t pay the EMI on the due date decided by the bank

Andhra Bank Gold Loan EMI Calculator

Gold Loan EMI of Andhra Bank is a fixed amount that you pay each month towards the repayment of your jewel loan. Lowest EMI offered by Andhra Bank is Rs. 0 per lakh loan amount. Gold loan EMI of Andhra Bank depends upon:
  • Rate of interest: Higher the interest rate, higher will be the EMI. For a gold loan from Andhra Bank at interest rate of 11.40% per annum, EMI will be Rs. 0 per Rs. one lakh loan amount. At interest rate of 11.40% for the same loan, the EMI will be Rs. 0
  • Loan tenure: Longer the loan tenure, lesser your monthly EMI. At 11.40% per annum, the EMI would range from Rs. 0 to Rs. 0 for loan tenure ranging from to

Andhra Bank Gold Loan Eligibility Calculator

Gold loan eligibility criteria Andhra Bank

Eligibility of Gold loan in Andhra Bank depends upon multiple factors:-
  • Quantity and quality of gold pledged: Gold loan eligibility depends upon the weight and assessment of purity of the gold jewelry that is being pledged. Gold ornaments karatage should be in the range of 18 to 24 karats. Both hallmarked jewellery and non hallmarked jewellery can be used for availing gold loan.
  • Gold loan rate per gram: Andhra Bank will value the jewelry based on price of 22 carat gold adjusted for purity. Andhra Bank use thirty days average rates of 22 carat gold prices. You can also check today gold rate at Myloancare.
  • Form of gold pledged: You can get gold loan from Andhra Bank against jewelry or ornaments with a purity of 18 carats or more and specially minted gold coins with a weight of up to 50 grams. You will not be eligible for gold loan against gold bars, ETFs (exchange traded funds), specially minted coins of more than 50 grams and ladies mangal sutra.
  • Purpose for which loan is used: You can use the gold loan from Andhra Bank for personal, business and agricultural purposes. However, you should not use gold loan for speculative purposes such as purchase of gold coins, jewels, land, and investment in stocks, futures and options.
Estimated eligibility online by using Gold Loan Eligibility Calculator

Popular Andhra Bank Gold Loan Products

Andhra Bank offers you following gold loan schemes
  • Loans Against Gold Ornaments

Gold Loan Andhra Bank documents required

The documentation process of Andhra Bank is smooth. Here is a list of documents which are required to apply for home loan from Andhra Bank:
  • Identity proof: Passport, Driving License, PAN Card, Aadhar Card, Voter’s ID Card
  • Address proof: Aadhar Card, Voter’s ID Card bank statement, rent agreement, utility bills, registry copy

Frequently Asked Questions – Andhra Bank Gold Loan

What is the maximum loan tenure I can opt under Andhra Bank gold loan?

Andhra Bank offers you tenure of upto to repay your gold loan.

Can I prepay my gold loan? What are the charges applicable?

Yes, you can prepay your gold loan. Applicable prepayment charges - Nil.

What is the maximum gold loan amount available?

You can avail gold loan up to Rs. 20,000,000 from Andhra Bank

Compare Andhra Bank Gold Loan

Comparison of Andhra Bank Gold Loan with other banks

Andhra Bank Gold Loan in India

Andhra Bank Gold Loan Customer Care Number, Email, Application Status

Contact Details of Andhra Bank Gold Loan Branches
City Customer Care Number
Agra 1800-425-2905,
Ahmedabad 1800-425-2905,
Ambala 1800-425-2905,
Anand 1800-425-2905,
Aurangabad 022-26876181,
Bangalore 080-26578833,
Bhilai 1800-425-2905,
Bhilwara 1800-425-2905,
Bhiwadi 022-26876181,
Bhopal 1800-425-2905,
Bhubaneswar Cuttack 1800-425-2905,
Bikaner 1800-425-2905,
Chandigarh 1800-425-2905,
Chennai 044-24994924,
Cochin 1800-425-2905,
Coimbatore 044-24994924,
Dehradun 1800-425-2905,
Delhi 0124-2581936,
Durg 1800-425-2905,
Faridabad 0124-2581936,
Gandhinagar 1800-425-2905,
Ghaziabad 0124-2581936,
Goa 1800-425-2905,
Greater Noida 0124-2581936,
Gurgaon 0124-2581936,
Guwahati 1800-425-2905,
Gwalior 1800-425-2905,
Hyderabad 040-23210907,
Indore 1800-425-2905,
Jabalpur 1800-425-2905,
Jaipur 1800-425-2905,
Jalandhar 1800-425-2905,
Jodhpur 1800-425-2905,
Kanpur 1800-425-2905,
Karnal 1800-425-2905,
Kolhapur 022-26876181,
Kolkata 033-22472068,
Kota 1800-425-2905,
Kozhikode 1800-425-2905,
Lucknow 1800-425-2905,
Ludhiana 1800-425-2905,
Madurai 044-24994924,
Meerut 1800-425-2905,
Mehsana 1800-425-2905,
Mohali Sas Nagar 1800-425-2905,
Mumbai 022-26876181,
Mussoorie 1800-425-2905,
Nagpur 022-26876181,
Nashik 022-26876181,
Noida 0124-2581936,
Noida Extn. 0124-2581936,
Panipat 1800-425-2905,
Patna 1800-425-2905,
Pondicherry 1800-425-2905,
Pune 022-26876181,
Raipur 1800-425-2905,
Rajkot 1800-425-2905,
Ranchi 1800-425-2905,
Rohtak 1800-425-2905,
Roorkee 1800-425-2905,
Salem 044-24994924,
Shimla 1800-425-2905,
Sonepat 1800-425-2905,
Surat 1800-425-2905,
Trichy 044-24994924,
Udaipur 1800-425-2905,
Vadodara 1800-425-2905,
Varanasi 1800-425-2905,
Vijaywada 040-23210907,
Vizag 040-23210907,
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Andhra Bank Gold Loan News - Oct 2016
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.