Andhra Bank Loan Against Property Interest Rate Calculator - Dec 2016

Andhra Bank Loan Against Property Interest Rates

Last Updated 09th Dec 2016
7th Dec 2016 - RBI keeps interest rates unchanged. Repo rate stays at 6.25%. CRR at 4%. 100% CRR on fresh deposits withdrawn
Interest Rate 12.40% - 12.85%
Check Special Offers
Lowest EMI Rs. 1,458 per lakh
Max Tenure 10 years
Prepayment, Foreclosure Charges Allowed with nil charges for floating rate loans to individuals
Age Min 21 and Max 65 years for Salaried
Min 21 and Max 65 years for Self Employed
Apply Loan Against Property Online
 Salaried   Self Employed - Professional   Self Employed - Business 





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Andhra Bank Loan Against Property

Andhra Bank offers Loan Against Property to the customers if they need to expand their business or want money for personal use. The loan is given upto 50% of the market’s value for tenure of 18 years.

Loan Against Property Andhra Bank

Loan Against Property interest rates offered by Andhra Bank depends upon MCLR
  • Floating rates changes with a single change in Andhra Bank 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 Property Loan based on 1 Year MCLR which is currently 9.45%
Andhra Bank mortgage loan interest rate depends upon
  • Loan amount: Andhra Bank mortgage loan rate 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 Loan Against Property. 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

Loan Against Property 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 loan against property with Nil prepayment charges

Andhra Bank Loan Against Property EMI Calculator

Loan Against Property EMI of Andhra Bank is a fixed amount that you pay each month towards the repayment of your Loan till the end of tenure
  • Andhra Bank Property Loan EMI calculator helps you to calculate your monthly EMI at different rate of interest and also check lowest EMI per lakh on Loan Against Property
  • 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 Loan Against Property EMI?
  • Andhra Bank Property Loan EMI calculator helps you to calculate your monthly EMI at different rate of interest
  • Andhra Bank EMI calculator for Loan Against Property 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 Loan Against Property Eligibility Calculator

Loan Against Property eligibility criteria Andhra Bank
Eligibility of Loan Against Property 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: Andhra Bank offers loan against property for a maximum tenure of 18 years if the borrower’s age does not exceed above 65 years for salaried and 65 years if you are self employed. Apply for loan at smaller age, higher will be the chances of loan approval
  • Value of the property: Andhra Bank decides your loan amount based on the market value of the property which you place as your collateral for the loan. Andhra Bank lends less than the market value of the property. As per RBI guidelines, the borrower also has to show some contribution. Ratio of loan amount to value of home is called Loan to Value (LTV) ratio. Andhra Bank gives maximum LTV of 50% for property loans depending upon market value of the property
  • Repayment capacity of the borrower: Your eligibility to take loan against property depends upon the maximum EMI that you can pay. Andhra Bank checks your past CIBIL history, repayment record of credit cards and existing loans that can impact your loan against property eligibility. If you have any other loan running whose EMI you are paying currently, then you are supposed to close your loan to get higher loan against property eligibility. Andhra Bank does not specify any particular CIBIL score for being eligible for a property loan. However, it is observed that a score of 700 and above is desirable
    To reduce your burden of higher EMIs, Andhra Bank gives you a maximum tenure of 18 years for a maximum loan amount of Rs.20,000,000 with a minimum spread of % over 1 Year MCLR. Opt for a loan tenure that suits you and higher the loan tenure, higher will be loan amount eligibility
  • Income: Loan against property are mostly taken by the people who are self employed in order to expand their business. However, in order to increase the loan amount you may club the income of family members like your spouse, parents, children and siblings
Estimated eligibility online by using Eligibility Calculator.

Andhra Bank Floating Rate Loan Against Property

Andhra Bank Loan Against Property Floating
Upto Rs. 2,500,000 - 12.40%
Rs. 2,500,001 - 5,000,000 - 12.40%
Rs. 5,000,001 - 10,000,000 - 12.40%
Above Rs. 10,000,000 - 12.40% linked to 1 Year MCLR

Andhra Bank Loan Against Property Top up, Transfer

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

Loan Against Property Andhra Bank documents required

Loan Against Property 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

Loan Against Property 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

Property documents for Loan Against Property from Andhra Bank

  • Registered Sale Deed/ Conveyance/ Lease Deed
  • Past Sale Deeds Chain (each transaction in respect of this property since first allotment
  • Latest House Tax Return/ Receipt
  • Approved Building Plan from Municipal Corporation
Past trends of MCLR of Andhra Bank
Date MCLR
15th Oct 16 9.70%
04th Oct 16: 0.25% repo cut by RBI
05th Apr 16: 0.25% repo cut by RBI
29th Sep 15: 0.5% repo cut by RBI
29th Sep 15 9.75% decreased by 0.25%
11th Jun 15 10.00% increased by 1.75%
02nd Jun 15: 0.25% repo cut by RBI
04th Mar 15: 0.25% repo cut by RBI
15th Jan 15: 0.25% repo cut by RBI
28th Jan 14: 0.25% repo hike by RBI
18th Dec 13: 0% repo none by RBI
29th Oct 13: 0.25% repo hike by RBI
20th Sep 13: 0.25% repo hike by RBI
19th Aug 13 10.25%
22nd Jul 13 10.00% decreased by 0.25%
03rd May 13: 0.25% repo cut by RBI
19th Mar 13: 0.25% repo cut by RBI
01st Mar 13 10.25% increased by 0.25%
29th Jan 13: 0.25% repo cut by RBI
01st May 12 10.50% increased by 0.25%
17th Apr 12: 0.5% repo cut by RBI
25th Oct 11: 0.25% repo hike by RBI
16th Sep 11: 0.25% repo hike by RBI
01st Aug 11 10.75% increased by 0.25%
26th Jul 11: 0.5% repo hike by RBI
11th Jul 11 10.25% decreased by 0.5%
16th Jun 11: 0.25% repo hike by RBI
09th May 11 10.00% decreased by 0.25%
03rd May 11: 0.5% repo hike by RBI
17th Mar 11: 0.25% repo hike by RBI
05th Feb 11 9.50% decreased by 0.5%
25th Jan 11: 0.25% repo hike by RBI
13th Dec 10 9.00% decreased by 0.5%
02nd Nov 10: 0.25% repo hike by RBI
05th Oct 10 8.50% decreased by 0.5%
16th Sep 10: 0.25% repo hike by RBI
27th Jul 10: 0.25% repo hike by RBI
02nd Jul 10: 0.25% repo hike by RBI
01st Jul 10 8.25% decreased by 0.25%

Andhra Bank MCLR Vs. RBI Repo Rate Trend

Frequently Asked Questions

What are the five things to check before applying for loan against property in Andhra Bank ?

  • Property on which you intend to take loan is not a vacant land, has an approved map plan and is in municipal area. You must attach the entire chain of title documents of the property and its approved building plan with the loan application.
  • Your existing EMI’s on all loans and credit cards (from Andhra Bank and other banks) are no more than 60 - 70% of your net monthly income
  • You have not defaulted on loans or credit card dues to Andhra Bank and other banks and all EMI's have been paid. Note that Andhra Bank can see record or status of your EMI defaults to all banks and NBFC’s in India and not just to Andhra Bank in your CIBIL report. Estimate your CIBIL score for free by using CIBIL score estimate calculator
  • If you are salaried, ensure that you attach your recent salary slips, bank statements and last 3 years' Form 16 with the loan applicantion
  • If you are self employed in your own business or practice, your business must have been in existence for at least three years and last three income tax returns with audited financials must be available

Will Andhra Bank mortgage loan interest rate remain fixed or will it change in future?

  • Floating interest rate on Andhra Bank property loan is linked to its 1 Year MCLR, which is currently 9.45%. So, when Andhra Bank offers a loan against property at 12.40%, it applies a 2.95% premium to its MCLR to arrive at this rate
  • When market interest rates go up, the bank increases its base rate and the applicable rate for all existing loans goes up. When interest rates trend downwards, the bank has to reduce the base rate as it is not allowed to lend below the base rate. Thus, any benefit of lower rates will have to be passed to both old borrowers and new borrowers
  • Base rate benchmarked loans provide a better and more transparent interest rate transmission for the borrower compare to PLR benchmarked loans
  • Current MCLR of Andhra Bank, its past trend and comparison with RBI repo rate are given here for your reference

Are prepayment or foreclosure charges applicable on Andhra Bank loan against property?

    You can prepay loan against property (LAP) without any penalty or charges in case:
  • Your loan is at a floating rate of interest and not at a fixed rate. Almost all loans against property are at floating rates and it is unlikely that yours is at a fixed rate of interest
  • The loan is in the name of one or more individual borrowers and none of the applicants and co-applicants is a business entity like a company or a firm or partnership or AOP

For loans from Housing Finance Companies, refer to NHB circulars NHB(ND)-DRS-Policy-Circular-63-14-15 dated Aug 14, 2014 and NHB-ND-DRS-Policy-Circular-No-66-2014-15 dated Sep 03, 2014 for more details.

Please contact myloancare at 0124 426 4004 or care@myloancare.in in case you need any assistance or clarification on this subject.

Andhra Bank Loan Against Property in India

Andhra Bank Loan Against Property 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 Loan Against Property 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.
*My Finance Care Advisors Pvt. Ltd., or https://www.myloancare.in 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 info@myloancare.in to provide corrections or updates. We may act as and/ or be associated with channel partners of banks and other sellers of financial products.