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Andhra Bank Personal Loan Calculator

Andhra Bank Personal Loan EMI Calculator, Jul 2021

Last Updated 16th Jul 2021

  • Personal loan EMI in Andhra Bank depends upon loan amount, loan tenure, interest rate, monthly salary and company that you work for.
  • Andhra Bank Personal Loan EMI Calculator is an online tool to estimate monthly EMI and its division into principal and Interest during the entire loan tenure.
  • Lowest monthly EMI is ₹ 2,071 per lakh on Andhra Bank Bank personal loan as calculated using the lowest interest rate of 8.90% for the longest tenure of 60 months.
  • For example, the table below gives the EMIs on Andhra Bank Personal Loan at different loan amounts and loan tenure, if taken at the lowest rate.
Loan Amount1 Year Loan3 Year loan5 Year loan
₹ 1 Lakh₹ 8,741₹ 3,175₹ 2,071
₹ 5 Lakh₹ 43,703₹ 15,877₹ 10,355
₹ 10 Lakh₹ 87,405₹ 31,753₹ 20,710

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 Personal Loan.

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Personal Loan EMI Calculator Andhra Bank

Andhra Bank Personal Loan EMI is a fixed amount of money paid by you to Andhra Bank based on your loan amount, tenure and interest rate. Every month, it is due on a fixed day of the month till the loan is fully paid back. You can calculate your Andhra Bank personal loan EMI in advance, to plan your loan payments and further expenses, using the Personal Loan EMI Calculator Andhra Bank. The calculator functions on a mathematical algorithm and gives accurate results in no time.

Why should you use Andhra Bank Personal Loan EMI Calculator?

  • Calculate the EMI within your budget: Helps you compare the EMIs with a different loan amount and tenure. Always talk to the bank to know the interest rate you will be eligible for Andhra Bank personal loan which can range between 8.90% to 13.00%.
  • Compare Andhra Bank personal Loan EMI: Helps you compare the estimated EMI on a personal loan from Andhra Bank with that of leading banks in India using the same loan amount of upto ₹ 5 Lakh for a maximum tenure of 60 months, but at different interest rates.
  • Calculate interest on Andhra Bank personal loan: You can calculate the split of total EMIs into interest and principal repayment on your loan from Andhra Bank over the loan tenure.
  • Detailed amortisation schedule: This allows you to see the pace at which your principal amount will be repaid during the loan tenure month on month. This is helpful if you decide to prepay your loan at Andhra Bank or balance transfer to another bank.

Andhra Bank Personal Loan EMI Calculator to Estimate the EMI that Fits your Budget

Input different loan amounts and tenure at the eligible interest rate on Andhra Bank Personal Loan EMI calculator to calculate various EMIs at different rates and tenure. The table captures the calculation of Andhra Bank Personal Loan EMI Calculation at the various combinations of loan amount and years when taking at the lowest rate of 8.90%. So if you think that you can afford to pay an EMI of ₹ 10,000 in your budget, taking a ₹ 3 Lakh loan for 3 years or ₹ 5 Lakh loan for 5 years, maybe the right Andhra Bank personal loan plan for you.Personal Loan EMI is calculated for Andhra Bank for different loan amounts and tenures at the rate of 8.90%.

Loan Amount (Rs.)2 Years3 Years5 Years
1 Lakh ₹ 4,564 ₹ 3,175 ₹ 2,071
3 Lakh ₹ 13,692 ₹ 9,526 ₹ 6,213
5 Lakh ₹ 22,819 ₹ 15,877 ₹ 10,355
10 Lakh ₹ 45,639 ₹ 31,753 ₹ 20,710

Factors Affecting Andhra Bank Personal Loan EMI

  • Loan amount – You will pay a higher EMI for the higher loan amount. Andhra Bank gives a minimum loan of ₹ 50,000 and a maximum loan amount of ₹ 5 Lakh.
  • Interest rate - Higher interest rate increases your loan EMI as well as the total cost of the loan. Andhra Bank personal loan interest rate for salary account holders can be lower than their quote rates, which can reduce the overall cost of loan and EMI. Lowest interest rate offered by Andhra Bank is 8.90%. However, it is advisable to do complete market research and compare rates online before you apply for a loan.
  • Loan tenure – This is the period over which you can repay your loan in Andhra Bank. So, your EMI will be lower if you take a 60months loan from Andhra Bank as compared to a loan taken for 12months. The logic being that if you get a longer period to repay, you can repay in a smaller instalment.

Comparison of Andhra Bank Personal Loan EMI with other Banks

Bank Name Interest Rate Loan Amount of ₹ 1 Lakh Loan Amount of ₹ 5 Lakh Loan Amount of ₹ 10 Lakh
Andhra Bank8.90% ₹ 8,741 ₹ 43,703 ₹ 87,405
Union Bank of India 8.90% ₹ 8,741 ₹ 43,703 ₹ 87,405
Corporation Bank 8.90% ₹ 8,741 ₹ 43,703 ₹ 87,405
PNB 8.95% ₹ 8,743 ₹ 43,714 ₹ 87,428
Allahabad Bank 9.05% ₹ 8,747 ₹ 43,737 ₹ 87,475

Andhra Bank Personal Loan Amortization Calculator

Andhra Bank Personal 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 Personal Loan of ₹ 3 Lakh for 5 years from Andhra Bank at an interest rate of 8.90%. EMI calculated for this loan amount is ₹ 6,213 and the total annual EMIs to be paid annually is ₹ 74,555. The EMI schedule of loan for 5 years is explained below in the table –

Amortization Schedule for a Personal Loan of ₹ 3 Lakh over the 5 years

Year Interest paid during the year Principal repaid during the year Total amount paid during the year (Interest + Principal) Outstanding Principal
2021 ₹ 12,902 ₹ 24,376 ₹ 37,278 ₹ 2,75,624
2022 ₹ 22,439 ₹ 52,117 ₹ 74,555 ₹ 2,23,507
2023 ₹ 17,606 ₹ 56,949 ₹ 74,555 ₹ 1,66,558
2024 ₹ 12,326 ₹ 62,230 ₹ 74,555 ₹ 1,04,329
2025 ₹ 6,556 ₹ 68,000 ₹ 74,555 ₹ 36,329
2026 ₹ 949 ₹ 36,329 ₹ 37,278 -₹ 0

In the above illustration, on a Andhra Bank Personal Loan of₹ 3 Lakh, taken at the lowest interest rate of 8.90, EMI paid is ₹ 6,213 and an annual total of EMIs is ₹ 74,555, the interest component is ₹ 24,699 while the principal component is ₹ 49,857 in year 1 of loan disbursement. You repay only 16.62% of the total principal after paying 12 EMIs during the first year.

Andhra Bank Personal Loan Interest Calculator Formula

Andhra Bank calculates personal loan EMI based on the following formula

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

Here is an illustration of how Andhra Bank Personal Loan EMI is calculated:

In the above formula,

P = Loan amount.Andhra Bank personal loan amount can range from ₹ 50,000 to ₹ 5 Lakh.

r = Rate of interest per month. The current Andhra Bank Personal Loan rate is 8.90%.
n = Tenure in month. This can range up to 60months in case of Andhra Bank.

How to use Andhra Bank Personal Loan EMI Calculator

  • Andhra Bank personal loan calculator are online tool which give out EMI calculations using a combination of loan amount, interest rate and loan tenure.
  • Andhra Bank EMI calculator considers “reducing balance basis” and assumes that payment of EMI is made in arrears meaning interest is charged for the month preceding the EMI payment date and not in advance.

Andhra Bank Personal Loan EMI for ₹ 1 Lakh

The following table shows Andhra Bank Personal Loan EMI for ₹ 1,00,000 for different tenures at an interest rate of 8.90%

Loan AmountInterest RateTenure(Year)EMI
₹ 1,00,0008.90% 1₹ 8,741
₹ 1,00,0008.90% 2₹ 4,564
₹ 1,00,0008.90% 3₹ 3,175
₹ 1,00,0008.90% 4₹ 2,484
₹ 1,00,0008.90% 5₹ 2,071

Andhra Bank Personal Loan EMI for ₹ 3 Lakh

The following table shows Andhra Bank Personal Loan EMI for ₹ 3,00,000 for different tenures at an interest rate of 8.90%.

Loan AmountInterest RateTenure(Year)EMI
₹ 3,00,0008.90% 1₹ 26,222
₹ 3,00,0008.90% 2₹ 13,692
₹ 3,00,0008.90% 3₹ 9,526
₹ 3,00,0008.90% 4₹ 7,451
₹ 3,00,0008.90% 5₹ 6,213

Andhra Bank Personal Loan EMI for ₹ 5 Lakh

The following table shows Andhra Bank Personal Loan EMI for ₹ 5,00,000 for different tenures at an interest rate of 8.90%.

Loan AmountInterest RateTenure(Year)EMI
₹ 5,00,0008.90% 1₹ 43,703
₹ 5,00,0008.90% 2₹ 22,819
₹ 5,00,0008.90% 3₹ 15,877
₹ 5,00,0008.90% 4₹ 12,419
₹ 5,00,0008.90% 5₹ 10,355

Andhra Bank Personal Loan EMI for ₹ 10 Lakh

The following table shows Andhra Bank Personal Loan EMI for ₹ 10,00,000 for different tenures at an interest rate of 8.90%.

Loan AmountInterest RateTenure(Year)EMI
₹ 10,00,0008.90% 1₹ 87,405
₹ 10,00,0008.90% 2₹ 45,639
₹ 10,00,0008.90% 3₹ 31,753
₹ 10,00,0008.90% 4₹ 24,838
₹ 10,00,0008.90% 5₹ 20,710

How to Pay Andhra Bank Personal Loan EMI?

There are various online & offline methods to pay your Andhra Bank Personal Loan EMI. To repay your Andhra Bank EMI online, you can log in to your net banking account or else you can also use the mobile banking of Andhra Bank. Andhra Bank also allows you to pay EMI through ECI or standing instructions or a cheque facility by visiting the nearest Andhra Bank branch.

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FAQs

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

It is advised to calculate personal loan EMI in advance before taking a personal loan. There are several benefits of calculating your Andhra Bank personal loan EMI 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 that fits your monthly budget and makes EMI easily affordable
  • If you already know the EMI you have to pay each month, then you can plan your expenses accordingly
  • Based on the EMI amount, you can opt for making prepayment of your personal loan in future when you have a surplus amount

What is the lowest EMI per lakh offered by Andhra Bank on a personal loan?

Andhra Bank offers a personal loan at a 8.90% interest rate for a maximum of 60 months, and hence lowest EMI per lakh loan amount is ₹ 2,071. However, Andhra Bank may offer a lower interest rate and EMI for their salary account holders or existing bank customers can vary.

How can I pre-close Andhra Bank personal loan?

You can pre-close your Andhra Bank personal loan by visiting the branch with the required set of documents. Submit the form of preclosure, pay the amount and take the acknowledgement of the balance amount that you have paid.

What are the prepayment charges on Andhra Bank ?

Andhra Bank offers you an option of prepayment after 0 months at Nil prepayment charges.You have to pay these charges if you decide to pay the loan amount before the due date.

Is there any processing charge on a personal loan from Andhra Bank?

Yes, Andhra Bank charges a certain amount of processing fee to process your loan application. Currently, Andhra Bank charges a processing fee of Case to Case on a Personal Loan.

Will I get a personal loan from Andhra Bank if I have a bad credit score?

No, for taking a loan from Andhra Bank, you must have a good credit score of 700 and above. Usually, most banks avoid giving loans if you have a low credit score.Also, availing a personal loan at low cibil score might fetch you a high Andhra Bank personal loan rate.

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

At the current rate of 8.90%, EMI on Andhra Bank personal loan for loan amount ₹ 20 Lakh varies based on the loan tenure. For instance, for 2 year, 3 year and 6 years, EMI is ₹ 2,47,546, ₹ 2,59,387 and ₹ 2,96,558 respectively.

Can I have a co-applicant while applying for a Personal loan with Andhra Bank ?

Yes, you can opt for a co-applicant to take a personal loan from Andhra Bank that will increase your loan eligiblity as the income of the co-applicant is also taken into account.

Can we pay more than EMI in Andhra Bank personal loan?

If you have funds, then you can pay more than the regular EMI on your Andhra Bank Personal Loan. This will reduce your interest burden along with the outstanding principal. You can also pay one additional EMI every year to reduce loan tenure and in turn interest amount.

How can I pay my Andhra Bank loan EMI?

You can pay the Andhra Bank personal Loan EMI by using the ECS facility or standing instruction. You can also visit the branch and submit the EMI cheque or can opt for automated deductions from your salary account.

Compare Personal Loan EMI of All Banks

Andhra Bank Personal Loan Customer Care Number, Email, Application Status, Branches
City Customer Care Number
Agra 1800-425-2905
Ahmedabad 1800-425-2905
Ambala 1800-425-2905
Anand 1800-425-2905
Aurangabad Bihar 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
Sonipat 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 Personal Loan News - Jul 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
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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