Andhra Bank Home Loan Interest Rate Calculator - Dec 2016

Andhra Bank Home Loan Interest Rates

Last Updated 06th Dec 2016
Interest Rate 9.65% - 9.90%
Check Special Offers
Lowest EMI Rs. 852 per lakh
Max Tenure 30 years
Processing Fee Upto 0.50%
Prepayment, Foreclosure Charges Allowed with nil charges for floating rate loans
Age Min 21 and Max 65 years for Salaried
Min 21 and Max 65 years for Self Employed
Apply Home Loan Online
 Salaried   Self Employed - Professional   Self Employed - Business 





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Andhra Bank Home Loan

Andhra Bank offers home loan to the people who want money to purchase a house, home renovation and home extension etc. The house itself acts as a security to the loan.

Home Loan Andhra Bank

Home loan interest rates offered by Andhra Bank depends upon MCLR.
  • Floating rates changes with a single change in MCLR rate in your loan tenure. You should go for floating rates if you can take the risk of hike in interest rates.
Andhra Bank offers home loan based on 1 Year MCLR rates which is currently 9.45%.
Andhra Bank home loan interest rate depends upon
  • Loan amount: Home loan rate in Andhra Bank depends upon the loan amount you apply for. Higher the loan amount, lesser will be the interest rate
  • Company where you work: Andhra Bank has a list of companies to which they lend Home loan. Interest rate will be less if your company is listed
  • Your Salary: Income helps you in identifying your rate of interest. Andhra Bank interest rate varies with your monthly income. Higher the income, less will the rate of interest

Home Loan Charges

  • 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 home loan with Nil prepayment charges
  • Processing Fee - Andhra Bank asks for a processing fee of 0.50% of loan amount with applicable service tax

Andhra Bank Home Loan EMI Calculator

    Home Loan EMI of Andhra Bank is a fixed amount that you pay each month towards the repayment of your home loan till the end of tenure
  • Home Loan EMI calculator of Andhra Bank helps you to calculate your monthly EMI at different rate of interest and also check lowest EMI per lakh on home loan.
  • You can plan your loan amount according to your monthly repayment capacity because higher the loan amount, higher will be the EMI
  • Rate of interest is an important factor which affects your EMI. Higher the interest rate, higher will be the EMI
  • Loan tenure matters equally as higher tenure reduces your EMI
What are the benefits of calculating Andhra Bank Home Loan EMI?
  • EMI calculator of Andhra Bank helps you to calculate your monthly EMI at different rate of interest
  • Andhra Bank Housing Loan EMI calculator helps you to know your capacity to repay the loan after maintaining your standard of living
  • You get a rough idea about your monthly EMI and can plan your monthly budget accordingly

Andhra Bank Home Loan Eligibility Calculator

Home Loan eligibility criteria Andhra Bank
Eligibility of House loan in Andhra Bank relies upon different factors but the most important factor is your ability to repay the loan. 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 Home loan to salaried at the age of 21 to 65 years and self employed individuals at 21 to 65 years
  • Income: In case of salaried person, Andhra Bank Loan eligibility significantly depends upon the income. Usually bank set minimum levels of income to apply for house loan. Salaried employee should be in government job or working with a reputed private company and getting regular salary in bank account with salary slip, form 16
  • Job stability and Profession: Job stability is important to improve your status and eligibility for Home loan from Andhra Bank. Minimum turnover and minimum net income criteria may apply. Business must be registered with at least one government agency such as service tax, VAT, excise, shops and establishment registrar. Other than job stability, profession is also an important factor which can affect your Andhra Bank eligibility. If you are working with a reputed company, probability of getting home loan from Andhra Bank increases as the income is considered to be more stable
  • CIBIL Score: Your past CIBIL history and repayment record of existing loans and credit cards has direct impact on your Home loan eligibility. If you have a poor repayment record, then you may not get the loan but on the other side, a regular repayment record increases your Home loan eligibility
  • Loan Amount: Andhra Bank gives you Home loan depending upon your income. Andhra Bank gives you an amount ranging from Rs. 1,000,000 to Rs. 100,000,000. To improve chances of approval, apply for a loan amount that you can comfortably service
  • Estimated eligibility online by using Eligibility Calculator.

    Andhra Bank Floating Rate Home Loans

    Andhra Bank Home Loan Floating
    Upto Rs. 2,500,000 - 9.65%
    Rs. 2,500,001 - 7,500,000 - 9.65%
    Rs. 7,500,001 - 30,000,000 - 9.90%
    Above Rs. 30,000,000 - 9.90% linked to 1 Year MCLR

    Andhra Bank Home Loan Top up, Transfer

    Transfer of Home Loan from another bank to Andhra Bank?
    Andhra Bank offers home loan balance transfer from another bank. This is subject to your meeting other eligibility criteria of Andhra Bank
    You can avail additional top-up home loan from Andhra Bank, subject to your eligibility

    Housing Loan Andhra Bank documents required

    Home Loan for Salaried employee Andhra Bank documents required

    • Filled up loan application form
    • 2 Passport Size Photo
    • Identity Proof - Passport/ Driving Licence/ Voter ID/ PAN
    • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
    • Income Documents – 6 months payslip, 2 years Form 16, 6 months bank statement showing salary credit and any EMI debit

    Home Loan for Self-Employed Andhra Bank documents required

    • Filled up loan application form
    • 2 Passport Size Photo
    • Identity Proof - Passport/ Driving License/ Voter ID/ PAN
    • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
    • Business proof such as VAT/ service tax registration, incorporation details in case of companies, business address proof, profit and loss account and balance sheets certified by CA, copy of partnership deed and proof of business existence and business profile

    Frequently Asked Questions

    Why to take home loan from Andhra Bank?
    Andhra Bank offers home loan at lower rate of interest i.e. at 9.65% with the lowest EMI of Rs. 852 per lakh. If you are paying EMI more than this then you can opt for balance transfer and relocate your home loan to Andhra Bank.
    What is the maximum loan tenure I can opt under Andhra Bank house loan?
    Andhra Bank offers you a longer tenure of 30 years to repay your home loan with a benefit of paying less EMI per month.
    Do I get tax benefit on home loan from Andhra Bank?
    As per Indian Income Tax Act of 1961, residents of India are eligible for tax benefits on principal amount and interest components of a home loan under the section 24 and section 80C of Income Tax Act.
    Can I foreclosure my home loan? What are the charges applicable?
    Yes, you can foreclose your home loan with Nil charges.
    Can I transfer my home loan from another bank to Andhra Bank?
    Yes, Andhra Bank gives you the facility to transfer your existing home loan with a hassle free process. Home loan balance transfer to Andhra Bank offers you to pay lower EMIs and save money.
    Can I club the income of my spouse with mine and apply for joint home loan?
    You can club the income of your spouse to increase your loan eligibility if the spouse is co-owner of the property or guarantor of the loan.
    What is the benchmark applicable for home loan in Andhra Bank?
    The benchmark applicable for home loan in Andhra Bank is 1 Year MCLR.
    What is the effect of part payments on Andhra Bank housing loan EMI ?
    Part payments help you in reducing the outstanding amount of loan which in turn will reduce the interest amount due. After making part payments, paying the same EMI will increase your involvement towards the principal amount which will help you in repaying the loan faster.
    How to increase my eligibility on Andhra Bank housing loan?
    If your spouse or family member is earning well, you can make your spouse or family member the co-applicant for your loan. The combination of both of your income will help you in increasing your eligibility to get loan.
    How will interest rate on Andhra Bank housing loan change in future?
    • Floating interest rate on Andhra Bank housing loan is linked to its 1 Year MCLR Rate, which is currently at 9.45%. So, when Andhra Bank offers a home loan at 9.65%, it applies a premium of 0.2% to its MCLR Rate to arrive at this home loan interest rate.
    • When RBI increases interest rates, the bank may increase its MCLR rate and the applicable interest rate for all existing and new home loans would increase. When RBI cuts interest rates and the bank reduces the MCLR rate, the benefit of lower rates will have to be passed to both old borrowers and new house loan accounts.

    Andhra Bank Home Loan in India

    Andhra Bank Home Loan Customer Care Number, Email, Application Status, Branches

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