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Andhra Bank Home Loan Calculator

Andhra Bank Housing Loan EMI Calculator

Last Updated 16th Jul 2021

  • Andhra Bank home loan EMI per ₹ 1 Lakh is ₹ 655, which is one of the lowest EMI offered by banks. Check Best Offers
  • Housing loan EMI in Andhra Bank is calculated based on loan amount, loan tenure and interest rate.
  • It is better to calculate your EMI for Andhra Bank home loan before applying. Use an online Andhra Bank loan EMI calculator to estimate your EMI.
  • Check Andhra Bank home loan EMI for different tenures at the current Andhra Bank home loan interest rate of 6.85%
  • Loan Amount10 Year Loan15 Year loan30 Year loan
    ₹ 10 Lakh₹ 11,534₹ 8,905₹ 6,553
    ₹ 20 Lakh₹ 23,067₹ 17,809₹ 13,105
    ₹ 30 Lakh₹ 34,601₹ 26,714₹ 19,658
    ₹ 50 Lakh₹ 57,668₹ 44,523₹ 32,763

    Andhra Bank has merged into Union Bank of India on April 1, 2020. The interest rates of Union Bank of India will now be applicable on Andhra Bank Home Loan.

    Jump to EMI Calculator

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Andhra Bank Home Loan EMI Calculator Online

Andhra Bank Home Loan EMI is the fixed amount that you need to pay on a fixed date of the month till the end of repayment tenure. The amount is based on your loan amount, tenure and interest rate. You can calculate your Andhra Bank housing loan EMI in advance to plan your loan payments and expenses using a Andhra Bank home loan calculator. Andhra Bank home loan EMI calculator is an online tool that functions on a mathematical algorithm and gives accurate results without hassle.

Why should you use Andhra Bank Home Loan EMI Calculator?

  • Calculate the EMI at Different Tenures: Andhra Bank offers the lowest EMI per lakh at . To get the lowest EMI on your home loan, you can compare the EMIs with a different loan amount and tenure. However, it is advisable to check with the bank to know the interest rate you will be eligible for Andhra Bank home loan.
  • Compare Andhra Bank Home Loan EMI: With Andhra Bank home loan EMI Calculator, you can also estimate EMI on your home loan from Andhra Bank with other leading banks in India at the same loan amount and tenure at varying interest rates.
  • Get Detailed Amortisation Schedule: You can calculate the division of total EMIs into interest and principal repayment on your loan at different periods throughout the loan tenure.
  • Calculate the Outstanding Balance: Finally, you can also calculate the remaining loan tenure for the outstanding balance at any period of the loan tenure. If you want to reduce your home loan tenure, you can always consider a home loan balance transfer because other banks may allow you to pay your home loan at low rates.

Andhra Bank Home Loan EMI Calculator to estimate the EMI that fits your budget

To calculate your home loan EMI at different rates and tenure, enter different loan amounts and tenure at the eligible interest rate on Andhra Bank Home Loan EMI calculator. The below-mentioned table shows the calculation of Andhra Bank Home Loan at the various combinations of loan amount and years at the lowest rate of 6.85%. Considering this example, if you think you can afford to pay an EMI of in your budget, take an loan for 15 years or loan for 30 years, maybe the right Andhra Bank Home loan plan for you.

Andhra Bank home loan EMI is calculated for different loan amounts and tenures at 6.85% interest rate
Loan Tenure
Loan Amount (Rs.) 15 years20 years30 years
₹ 25 Lakh ₹ 22,262 ₹ 19,158 ₹ 16,381
₹ 50 Lakh ₹ 44,523 ₹ 38,316 ₹ 32,763
₹ 75 Lakh ₹ 66,785 ₹ 57,474 ₹ 49,144
₹ 1 Cr ₹ 89,046 ₹ 76,632 ₹ 65,526

Benefits of using Andhra Bank Home Loan EMI Calculator

Andhra Bank Home Loan Calculator is online and gives instant results with 100% accuracy. The best part is that you can calculate and compare multiple EMIs on different combinations of loan amount, interest rate and tenure. Thus, using Andhra Bank Home Loan EMI Calculator helps you to choose the right amount of EMI that is affordable and also decide on the right loan amount and loan tenure. Further, if you use the MyLoanCare Andhra Bank Home Loan Calculator, you have the option to receive calculated EMIs and amortization schedules for each calculation by mail which can be referred to at a later stage when you are making the final decision to take a loan.

Factors Affecting Andhra Bank Home Loan EMI

Home Loan EMI can be calculated using an online Home Loan Calculator which takes into account factors such as loan amount, rate of interest and the tenure for which you are planning to avail the loan.

Loan Amount

If you apply for a higher loan amount, you will have to pay a higher EMI Andhra Bank gives a minimum home loan of ₹ 10,00,000 upto a maximum amount of ₹ 10,00,00,000.

Interest Rate

Higher interest rate increases your Andhra Bank housing loan EMI which will increase the total cost of the loan. Andhra Bank current home loan interest rate starts at 6.85%. Do a complete market research and compare rates and calculate EMI online using Andhra Bank home loan calculator before you apply for a home loan.

Loan Tenure

This is the period in which you can repay your home loan in Andhra Bank. Your EMI will be lower if you take a 0 years loan from Andhra Bank as compared to a loan taken for 5 years. For a longer period, you get to pay a smaller EMI and vice-versa.

Andhra Bank Home Loan EMI Calculator Formula

Andhra Bank Home Loan Calculator calculates EMI based on the following formula.

P*r* (1+r)^n/([(1+r)^n]-1)

Here is an illustration of how Andhra Bank Home Loan EMI calculator formulates EMI:

In above formula,

  • P = Loan amount. Andhra Bank home loan amount can range from ₹ 10,00,000 to ₹ 10,00,00,000
  • r = Rate of interest per month. Current Andhra Bank housing loan rate 6.85%.
  • n = tenure in month. For Andhra Bank, maximum home loan tenure is 360 months

Comparison of Andhra Bank Home Loan EMI with other Banks

Bank Name Interest rate Loan Amount of ₹ 10 Lakh Loan Amount of ₹ 30 Lakh Loan Amount of ₹ 50 Lakh
Andhra Bank 6.85% ₹ 6,553 ₹ 19,658 ₹ 32,763
HDFC 6.70% ₹ 6,453 ₹ 19,358 ₹ 32,264
ICICI Bank 6.70% ₹ 6,453 ₹ 19,358 ₹ 32,264
SBI 6.65% ₹ 6,420 ₹ 19,259 ₹ 32,098
LIC Housing Finance 6.66% ₹ 6,426 ₹ 19,279 ₹ 32,131
Axis Bank 6.65% ₹ 6,420 ₹ 19,259 ₹ 32,098

Andhra Bank Home Loan Amortization Calculator

Andhra Bank Home Loan amortization schedule gives a break up of your monthly EMI into interest and principal repayment. Andhra Bank gives you a detailed amortisation schedule with the sanction letter and you can calculate the total interest outgo as well as the pace at which your loan amount will be repaid during the loan tenure.

How to read an amortization schedule

Suppose if you take a Home Loan of ₹ 30 Lakh for 15 years from Andhra Bank at an interest rate of 6.85%. EMI calculated for this loan amount is ₹ 26,714 and the total annual EMIs to be paid annually is ₹ 3,20,567. The EMI schedule of loan for 15 years is explained below in the table –

Amortization Schedule for a Home Loan of ₹ 30 Lakh over the 15 years

Year Interest paid during the year Principal repaid during the year Total amount paid during the year (Interest + Principal) Outstanding Principal
2021 ₹ 34,195 ₹ 19,233 ₹ 53,428 ₹ 29,80,767
2022 ₹ 2,00,458 ₹ 1,20,109 ₹ 3,20,567 ₹ 28,60,659
2023 ₹ 1,91,967 ₹ 1,28,599 ₹ 3,20,567 ₹ 27,32,060
2024 ₹ 1,82,877 ₹ 1,37,690 ₹ 3,20,567 ₹ 25,94,370
2025 ₹ 1,73,143 ₹ 1,47,424 ₹ 3,20,567 ₹ 24,46,946
2026 ₹ 1,62,721 ₹ 1,57,845 ₹ 3,20,567 ₹ 22,89,100
2027 ₹ 1,51,563 ₹ 1,69,004 ₹ 3,20,567 ₹ 21,20,096
2028 ₹ 1,39,616 ₹ 1,80,951 ₹ 3,20,567 ₹ 19,39,145
2029 ₹ 1,26,824 ₹ 1,93,743 ₹ 3,20,567 ₹ 17,45,402
2030 ₹ 1,13,128 ₹ 2,07,439 ₹ 3,20,567 ₹ 15,37,963
2031 ₹ 98,463 ₹ 2,22,103 ₹ 3,20,567 ₹ 13,15,860
2032 ₹ 82,762 ₹ 2,37,804 ₹ 3,20,567 ₹ 10,78,056
2033 ₹ 65,952 ₹ 2,54,615 ₹ 3,20,567 ₹ 8,23,440
2034 ₹ 47,952 ₹ 2,72,614 ₹ 3,20,567 ₹ 5,50,826
2035 ₹ 28,681 ₹ 2,91,886 ₹ 3,20,567 ₹ 2,58,940
2036 ₹ 8,199 ₹ 2,58,940 ₹ 2,67,139 ₹ 0

In the above illustration, on a Andhra Bank Home Loan of₹ 30 Lakh, taken at the lowest interest rate of 6.85, EMI paid is ₹ 26,714 and an annual total of EMIs is ₹ 3,20,567, the interest component is ₹ 2,01,818 while the principal component is ₹ 1,18,749 in year 1 of loan disbursement. You repay only 3.96% of the total principal after paying 12 EMIs during the first year.

Andhra Bank Home Loan EMI for ₹ 10 Lakh

The following table shows Andhra Bank Housing Loan EMI for ₹ 10,00,000 for different tenures at an interest rate of 6.85%

Loan Amount Interest rate Tenure (Year) EMI
₹ 10,00,000 6.85% 5 Years ₹ 19,730
₹ 10,00,000 6.85% 10 Years ₹ 11,534
₹ 10,00,000 6.85% 15 Years ₹ 8,905
₹ 10,00,000 6.85% 20 Years ₹ 7,663
₹ 10,00,000 6.85% 0 Years

Andhra Bank Home Loan EMI for ₹ 20 Lakh

The following table shows Andhra Bank Housing Loan EMI for ₹ 20,00,000 for different tenures at an interest rate of 6.85%

Loan Amount Interest rate Tenure (Year) EMI
₹ 20,00,000 6.85% 5 Years ₹ 39,461
₹ 20,00,000 6.85% 10 Years ₹ 23,067
₹ 20,00,000 6.85% 15 Years ₹ 17,809
₹ 20,00,000 6.85% 20 Years ₹ 15,326
₹ 20,00,000 6.85% 0 Years

Andhra Bank Home Loan EMI for ₹ 30 Lakh

The following table shows Andhra Bank Housing Loan EMI for ₹ 30,00,000 for different tenures at an interest rate of 6.85%

Loan Amount Interest rate Tenure (Year) EMI
₹ 30,00,000 6.85% 5 Years ₹ 59,192
₹ 30,00,000 6.85% 10 Years ₹ 34,601
₹ 30,00,000 6.85% 15 Years ₹ 26,714
₹ 30,00,000 6.85% 20 Years ₹ 22,990
₹ 30,00,000 6.85% 0 Years

Andhra Bank Home Loan EMI for ₹ 50 Lakh

The following table shows Andhra Bank Housing Loan EMI for ₹ 50,00,000 for different tenures at an interest rate of 6.85%

Loan Amount Interest rate Tenure (Year) EMI
₹ 50,00,000 6.85% 5 Years ₹ 98,653
₹ 50,00,000 6.85% 10 Years ₹ 57,668
₹ 50,00,000 6.85% 15 Years ₹ 44,523
₹ 50,00,000 6.85% 20 Years ₹ 38,316
₹ 50,00,000 6.85% 0 Years

Other Loan Calculators Offered by MyLoanCare

FAQs

Will the Andhra Bank home loan EMI remain constant or change in future?

No, your Andhra Bank Home Loan EMI can change if you have taken a floating rate loan and there is a change in the repo rate to which the home loan rate has been benchmarked. However, if it is a fixed rate loan, the Andhra Bank Home Loan EMI will remain unchanged throughout the loan tenure unless you request for a change in tenure or prepay your loan amount.

What happens in case of increase or decrease in Andhra Bank interest rate?

Andhra Bank offers floating rate home loans only. If you take a floating rate loan from Andhra Bank, your interest rate and hence EMI will decrease with a cut in the repo rate and increase with an increase in repo rate on the date of reset. This means that your Andhra Bank home loan EMI can keep fluctuating during the loan tenure depending on the changes in interest rates.

Will Andhra Bank home loan EMI change in case of prepayment?

Andhra Bank allows prepayment at nil charges in case of floating rate home loans. When you make a prepayment, the outstanding balance of the principal amount on your Andhra Bank home loan reduces. In this case, you may choose to either keep the EMI same and reduce the loan tenure (that is paying off the loan faster) or reduce the EMI and keep the loan tenure the same (that is paying a lesser amount every month). It is beneficial to keep the Andhra Bank home loan EMI constant and reduce the loan tenure as you pay less interest to the bank in this option. After prepayment, you can calculate your home loan EMI using Andhra Bank home loan calculator.

Why should I calculate Andhra Bank loan EMI before taking a loan?

It is advised to calculate Andhra Bank home loan EMI before taking a home loan. There are several benefits of calculating your Andhra Bank housing loan EMI which can be done using Andhra Bank loan calculator Andhra Bank housing loan EMI calculator as discussed below -

  • In case EMI comes out to be more than your monthly budget, then you have the chance to apply for a lower loan amount which fits your monthly budget and make Andhra Bank EMI affordable.
  • If you already know the EMI you have to pay each month, then you can plan your spends accordingly
  • Based on the EMI amount, you can opt for making a prepayment of your home loan in the future when you have a surplus amount. You can calculate the aftermaths of prepayment using home loan emi calculator Andhra Bank.

What is the EMI for home loan in Andhra Bank?

The Andhra Bank EMI will vary based on loan amount, tenure, rate of interest and can be calculated using Andhra Bank home loan calculator. Based on the lowest rate of 6.85% and maximum tenure of 30 years, the Andhra Bank home loan EMI for different loan amount will be:

Loan amount EMI
₹ 10 Lakh ₹ 6,553
₹ 12 Lakh ₹ 7,863
₹ 15 Lakh ₹ 9,829
₹ 30 Lakh ₹ 19,658
₹ 50 Lakh ₹ 32,763

You can compare Andhra Bank home loan EMI for different loan amounts and tenure and then choose the loan amount based on your repayment capacity.

How accurate is a Andhra Bank Housing Loan EMI calculator?

Online Andhra Bank housing loan calculators use technology to calculate the results and hence, if the data entered by you is correct the results should be 100% accurate.The calculator works on a mathematical algorithm based on the formula: P*r* (1+r)^n/([(1+r)^n]-1). Here, P is the loan amount, r is the rate of interest per month and n is the tenure in month. The Andhra Bank home loan emi calculator is far better than manual calculations , as chances of error are less.

How to pay your Andhra Bank Home loan EMI Online?

To pay the EMI of Andhra Bank home loan, you can log in to your net banking account as provided during the time of availing the loan and pay using your savings account or debit/credit card. You can also visit the branch and submit the cheque of your EMI.

How is Andhra Bank home loan EMI calculated?

The Andhra Bank Home loan EMI calculation formula is as follows:
E = [P x R x (1+R)^N]/[(1+R)^N-1] where
‘E’ means Equated monthly instalments
‘P’ means the principal amount
‘N’ is the number of monthly instalments
‘R’ is the interest rate per month.

What is the EMI for ₹ 10 Lakh home loan in Andhra Bank?

You can use a 10 lakh home loan emi calculator Andhra Bank, to determine different EMI for different tenures. Let`s understand with examples:-

Loan amount Interest rate Tenure EMI
₹ 10 Lakh 6.85% 10 years loan ₹ 11,534
₹ 10 Lakh 6.85% 15 years loan ₹ 8,905
₹ 10 Lakh 6.85% 20 years loan ₹ 7,663

What is the EMI for ₹ 20 Lakh home loan in Andhra Bank?

You can use a 20 lakh home loanemi calculator Andhra Bank, to determine different EMI for different tenures. Let`s understand with examples:-

Loan amount Interest rate Tenure EMI
₹ 20 Lakh 6.85% 10 years loan ₹ 23,067
₹ 20 Lakh 6.85% 15 years loan ₹ 17,809
₹ 20 Lakh 6.85% 20 years loan ₹ 15,326

What is the EMI for ₹ 30 Lakh home loan in Andhra Bank?

You can use a 30 lakh home loan emi calculator Andhra Bank, to determine different EMI for different tenures. Let`s understand with examples:-

Loan amount Interest rate Tenure EMI
₹ 30 Lakh 6.85% 10 years loan ₹ 34,601
₹ 30 Lakh 6.85% 15 years loan ₹ 26,714
₹ 30 Lakh 6.85% 20 years loan ₹ 22,990

What is the EMI for ₹ 50 Lakh home loan in Andhra Bank?

You can use a 50 lakh home loan emi calculator Andhra Bank, to determine different EMI for different tenures. Let`s understand with examples:-

Loan amount Interest rate Tenure EMI
₹ 50 Lakh 6.85% 10 years loan ₹ 57,668
₹ 50 Lakh 6.85% 15 years loan ₹ 44,523
₹ 50 Lakh 6.85% 20 years loan ₹ 38,316

What is the EMI for a 25 lakhs home loan in Andhra Bank and how is it calculated?

EMI for ₹ 25 lakhs will be as follows for three different tenure, as per 25 lakh home loan emi calculator Andhra Bank:--

Loan amount Interest rate Tenure EMI
₹ 25 Lakh 6.85% 10 years loan ₹ 28,834
₹ 25 Lakh 6.85% 15 years loan ₹ 22,262
₹ 25 Lakh 6.85% 20 years loan ₹ 19,158

What is the EMI for 12 lakhs home loan in Andhra Bank?

A borrower will pay ₹ 12,245 if he/she takes a loan for 12 years at an interest rate of 6.85%. The 12 lakh home loan emi Andhra Bank may vary across Andhra Bank home loan interest rate.

Compare Home Loan EMI of All Banks


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Andhra Bank Home Loan News - Nov 2021
  • 2021-07-16 : UBI update on change in IFSC code for merged banks - Andhra Bank and Corporation Bank
    Union Bank of India (UBI) on Friday said the IFSC codes of the erstwhile e-Andhra Bank and e-Corporation Bank branches will change with effect from July 1, 2021. Customers of the erstwhile banks will have to get new cheque books with changed IFSC and MICR codes
  • 2019-07-16 : Andhra Bank announces the launch of AI chatbot in Telangana
    Andhra Bank has announced the launch of its artificial intelligence interactive assistance chatbot, ABHi. With ABHi, customers will be able to get the information instantly related to loans including home loans, mortgage loans, digital banking, banking services, senior citizen schemes, fixed deposits, etc. on chat anytime.
  • 2019-06-26 : Andhra Bank approves raising of up to Rs. 2,000 crore in FY19-20
    In a bid to augment its working capital, Andhra Bank has planned to raise equity capital of Rs. 2,000 crore through qualified institutional placement, follow-on public offer, sale of non-core assets, or preferential allotment. The funds raised through these routes would be utilized towards further improving its performance and services related to retail loans and deposits.
  • 2019-05-16 : Andhra Bank revises MCLR rates across loan tenure
    Andhra Bank has revised its Marginal Cost of Funds Based Lending Rate (MCLR) across all tenure for the month of May. The move is supposed to make retail loans like housing loans and mortgage loans cheaper. Now for overnight and one month, the rate stands at 8.20% and 8.25% respectively. For 3 months, the rate has been revised to 8.45%. While for 1 year the rate now stands at 8.75%. The revised rates are effective from May 15, 2019.
  • 2019-04-15 : Andhra Bank revises MCLR rates across all tenure
    Andhra Bank has reduced its Marginal Cost of Funds Based Lending Rate (MCLR) by 5 basis points across all tenors for the month of April. The move is supposed to make home loans and mortgage loans cheaper. Now for overnight, the MCLR stands at 8.20% while for 3 months, the rate has been revised to 8.45% and for 1 year the rate now stands at 8.75%. The revised rates are effective from April 15, 2019.
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